Vanguard Group Inc. Sells 215,688 Shares of Flywire Corporation $FLYW

Key Points

• Vanguard trimmed its Flywire stake in the fourth quarter, selling 215,688 shares and ending with 10,863,380 shares, or about 8.89% of the company. Despite the sale, Flywire remains widely held by institutions, with 95.9% ownership.
• Flywire reported stronger-than-expected quarterly results, posting EPS of $0.10 versus the $0.03 consensus estimate and revenue of $184 million, up 40.9% from a year earlier. The company also guided analyst expectations of $0.39 EPS for the current year.
• Insiders and analysts showed mixed but generally positive signals: a director and the general counsel sold shares, while Wall Street mostly remains constructive with eight Buy ratings, six Hold ratings, and a consensus target price of $18.17. Flywire stock was down 4.5% to $16.46 in Tuesday trading.

Vanguard Group Inc. reduced its stake in shares of Flywire Corporation (NASDAQ:FLYW - Free Report) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,863,380 shares of the company's stock after selling 215,688 shares during the quarter. Vanguard Group Inc. owned approximately 8.89% of Flywire worth $153,825,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FLYW. AQR Capital Management LLC bought a new stake in shares of Flywire during the 1st quarter valued at about $271,000. Millennium Management LLC raised its stake in Flywire by 15.1% in the first quarter. Millennium Management LLC now owns 1,330,971 shares of the company's stock worth $12,644,000 after buying an additional 175,007 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Flywire by 14.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,241,226 shares of the company's stock worth $11,792,000 after buying an additional 159,239 shares during the period. American Century Companies Inc. boosted its position in Flywire by 7.3% during the 2nd quarter. American Century Companies Inc. now owns 107,856 shares of the company's stock valued at $1,262,000 after acquiring an additional 7,357 shares in the last quarter. Finally, Prudential Financial Inc. bought a new stake in Flywire during the 2nd quarter valued at approximately $184,000. 95.90% of the stock is currently owned by institutional investors.

Flywire Trading Down 4.5%

Flywire stock opened at $16.46 on Tuesday. Flywire Corporation has a 12 month low of $9.97 and a 12 month high of $18.05. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 71.57, a price-to-earnings-growth ratio of 1.29 and a beta of 1.30. The business's fifty day simple moving average is $13.00 and its two-hundred day simple moving average is $13.23.

Flywire (NASDAQ:FLYW - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.07. Flywire had a return on equity of 3.78% and a net margin of 4.45%.The firm had revenue of $184.00 million during the quarter, compared to analyst estimates of $170.24 million. During the same quarter in the previous year, the firm earned ($0.03) EPS. Flywire's quarterly revenue was up 40.9% compared to the same quarter last year. On average, equities research analysts predict that Flywire Corporation will post 0.39 EPS for the current year.

Insiders Place Their Bets

In other Flywire news, Director Phillip John Riese sold 37,921 shares of Flywire stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $16.87, for a total value of $639,727.27. Following the completion of the transaction, the director directly owned 234,493 shares of the company's stock, valued at approximately $3,955,896.91. The trade was a 13.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Peter Butterfield sold 9,009 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $13.05, for a total transaction of $117,567.45. Following the sale, the general counsel owned 532,962 shares in the company, valued at approximately $6,955,154.10. The trade was a 1.66% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 114,511 shares of company stock valued at $1,859,470. 4.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. UBS Group increased their target price on Flywire from $14.00 to $18.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. Raymond James Financial reaffirmed an "outperform" rating and issued a $21.00 price target on shares of Flywire in a research note on Wednesday, May 6th. BTIG Research increased their price objective on Flywire from $17.00 to $20.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Citigroup raised their price objective on Flywire from $13.00 to $16.00 and gave the company a "neutral" rating in a research report on Thursday, May 7th. Finally, Stephens upgraded shares of Flywire from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $17.00 to $19.00 in a report on Friday, January 16th. Eight research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $18.17.

About Flywire

Flywire Corp NASDAQ: FLYW is a global payments enablement and software company that specializes in facilitating complex cross-border transactions. Its cloud-based platform streamlines receivables and payer workflows across key verticals including education, healthcare, travel and hospitality, and commercial services. Flywire's technology integrates with institutional systems to automate payment posting, reconciliation and reporting, aiming to improve the payer experience and accelerate cash flow for its clients.

Founded in 2009 by entrepreneur Iker Marcaide as peerTransfer, the company rebranded as Flywire in 2015.

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