Flywire Corporation (NASDAQ:FLYW) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its holdings in Flywire Corporation (NASDAQ:FLYW - Free Report) by 22.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 170,081 shares of the company's stock after selling 50,544 shares during the quarter. New York State Common Retirement Fund owned approximately 0.14% of Flywire worth $1,616,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FLYW. Penserra Capital Management LLC bought a new position in shares of Flywire during the 1st quarter valued at approximately $1,574,000. Janney Montgomery Scott LLC raised its holdings in Flywire by 571.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 77,708 shares of the company's stock valued at $738,000 after buying an additional 66,133 shares during the period. ABS Direct Equity Fund LLC purchased a new stake in Flywire during the 1st quarter valued at $950,000. SG Americas Securities LLC raised its holdings in Flywire by 6.2% during the 1st quarter. SG Americas Securities LLC now owns 42,154 shares of the company's stock valued at $400,000 after buying an additional 2,445 shares during the period. Finally, Rhumbline Advisers raised its holdings in Flywire by 2.3% during the 1st quarter. Rhumbline Advisers now owns 169,553 shares of the company's stock valued at $1,611,000 after buying an additional 3,732 shares during the period. 95.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on FLYW. The Goldman Sachs Group increased their target price on Flywire from $10.00 to $12.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Deutsche Bank Aktiengesellschaft started coverage on Flywire in a research note on Thursday, July 17th. They set a "hold" rating and a $12.00 price target on the stock. B. Riley cut their target price on Flywire from $17.00 to $15.00 and set a "buy" rating on the stock in a research note on Monday, June 23rd. Wolfe Research restated a "peer perform" rating on shares of Flywire in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company dropped their price target on Flywire from $16.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $14.77.

Insider Transactions at Flywire

In other Flywire news, Director Edwin J. Santos sold 5,466 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $10.04, for a total value of $54,878.64. Following the sale, the director owned 21,990 shares of the company's stock, valued at $220,779.60. This trade represents a 19.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 4.40% of the company's stock.

Flywire Trading Down 1.0%

Shares of NASDAQ FLYW traded down $0.12 during mid-day trading on Friday, reaching $11.69. 1,358,944 shares of the company's stock were exchanged, compared to its average volume of 2,139,621. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 292.25, a PEG ratio of 2.03 and a beta of 1.28. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.02 and a current ratio of 2.02. Flywire Corporation has a 52-week low of $8.20 and a 52-week high of $23.40. The company's 50-day moving average is $11.14 and its 200-day moving average is $12.57.

Flywire (NASDAQ:FLYW - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.02. Flywire had a return on equity of 1.57% and a net margin of 0.97%. The business had revenue of $128.70 million during the quarter, compared to analysts' expectations of $124.18 million. During the same period in the prior year, the business posted ($0.05) EPS. The company's revenue was up 17.0% compared to the same quarter last year. Analysts expect that Flywire Corporation will post 0.14 EPS for the current fiscal year.

About Flywire

Flywire Corporation, together with its subsidiaries, operates as a payments enablement and software company in the United States and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay. The company's platform facilitates payment flows across multiple currencies, payment types, and payment options, as well as provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.