Victory Capital Management Inc. Sells 792,193 Shares of Flywire Corporation (NASDAQ:FLYW)

Key Points

• Victory Capital Management Inc. significantly reduced its holdings in Flywire Corporation, selling 792,193 shares and holding just 14,064 shares afterwards, worth $134,000, as per its 13F filing.
• Flywire's stock currently trades at $10.37 with a market capitalization of $1.26 billion, and it reported quarterly earnings that exceeded analyst expectations with a revenue of $128.7 million.
• Analyst ratings are mixed, with a consensus rating of "Hold" and target prices ranging from $9.00 to $17.00, indicating varying outlooks on Flywire's stock performance.

Victory Capital Management Inc. cut its holdings in shares of Flywire Corporation (NASDAQ:FLYW - Free Report) by 98.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,064 shares of the company's stock after selling 792,193 shares during the period. Victory Capital Management Inc.'s holdings in Flywire were worth $134,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in Flywire during the 4th quarter worth approximately $77,000. Dakota Wealth Management grew its position in Flywire by 8.7% during the 1st quarter. Dakota Wealth Management now owns 13,334 shares of the company's stock worth $127,000 after acquiring an additional 1,066 shares during the last quarter. Cetera Investment Advisers bought a new stake in Flywire during the 4th quarter worth approximately $225,000. State of Wyoming grew its position in Flywire by 80.1% during the 4th quarter. State of Wyoming now owns 10,939 shares of the company's stock worth $226,000 after acquiring an additional 4,865 shares during the last quarter. Finally, Vident Advisory LLC bought a new stake in Flywire during the 4th quarter worth approximately $235,000. 95.90% of the stock is currently owned by institutional investors.

Flywire Stock Performance

FLYW stock opened at $10.37 on Monday. The business's fifty day moving average is $11.12 and its 200-day moving average is $12.21. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.26 billion, a P/E ratio of 259.25, a price-to-earnings-growth ratio of 2.30 and a beta of 1.27. Flywire Corporation has a twelve month low of $8.20 and a twelve month high of $23.40.

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

Analyst Ratings Changes

A number of brokerages have commented on FLYW. The Goldman Sachs Group increased their price objective on Flywire from $10.00 to $12.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft began coverage on Flywire in a research report on Thursday, July 17th. They issued a "hold" rating and a $12.00 price objective on the stock. Royal Bank Of Canada decreased their price objective on Flywire from $20.00 to $17.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $9.00 price objective (down from $16.00) on shares of Flywire in a research report on Monday, April 14th. Finally, B. Riley decreased their price objective on Flywire from $17.00 to $15.00 and set a "buy" rating on the stock in a research report on Monday, June 23rd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $14.77.

Insiders Place Their Bets

In other Flywire news, Director Edwin J. Santos sold 5,466 shares of Flywire stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $10.04, for a total transaction of $54,878.64. Following the transaction, the director directly owned 21,990 shares in the company, valued at approximately $220,779.60. The trade was a 19.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.40% of the company's stock.

Flywire Company Profile

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.

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