Federated Hermes Inc. Sells 56,612 Shares of Flywire Co. (NASDAQ:FLYW)

Federated Hermes Inc. decreased its stake in Flywire Co. (NASDAQ:FLYW - Free Report) by 96.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,882 shares of the company's stock after selling 56,612 shares during the period. Federated Hermes Inc.'s holdings in Flywire were worth $44,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FLYW. William Blair Investment Management LLC acquired a new stake in shares of Flywire during the third quarter valued at $100,341,000. Vanguard Group Inc. boosted its holdings in shares of Flywire by 13.8% during the third quarter. Vanguard Group Inc. now owns 10,517,763 shares of the company's stock worth $335,411,000 after purchasing an additional 1,278,646 shares during the last quarter. FMR LLC increased its stake in Flywire by 56.7% in the third quarter. FMR LLC now owns 2,804,218 shares of the company's stock valued at $89,427,000 after purchasing an additional 1,014,757 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in shares of Flywire by 112.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,330,360 shares of the company's stock valued at $42,425,000 after acquiring an additional 704,938 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Flywire by 23.5% in the third quarter. Invesco Ltd. now owns 3,106,540 shares of the company's stock valued at $99,068,000 after purchasing an additional 591,904 shares during the period. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CTO David R. King sold 9,366 shares of the business's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $27.30, for a total transaction of $255,691.80. Following the transaction, the chief technology officer now owns 621,568 shares of the company's stock, valued at $16,968,806.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CTO David R. King sold 9,366 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $27.30, for a total transaction of $255,691.80. Following the completion of the sale, the chief technology officer now owns 621,568 shares of the company's stock, valued at $16,968,806.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Massaro sold 13,043 shares of the business's stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $24.07, for a total transaction of $313,945.01. Following the completion of the sale, the chief executive officer now directly owns 1,655,673 shares in the company, valued at $39,852,049.11. The disclosure for this sale can be found here. Insiders have sold a total of 141,800 shares of company stock valued at $3,743,582 in the last three months. Company insiders own 5.00% of the company's stock.

Flywire Trading Up 2.6 %

Flywire stock traded up $0.53 during mid-day trading on Tuesday, hitting $20.54. 3,746,543 shares of the company's stock were exchanged, compared to its average volume of 1,520,844. The stock has a 50 day moving average of $23.67 and a two-hundred day moving average of $23.23. Flywire Co. has a 1-year low of $18.65 and a 1-year high of $35.80. The stock has a market cap of $2.52 billion, a P/E ratio of -229.64, a P/E/G ratio of 11.18 and a beta of 1.09.

Flywire (NASDAQ:FLYW - Get Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.01 earnings per share for the quarter, topping analysts' consensus estimates of ($0.08) by $0.09. The business had revenue of $100.55 million during the quarter, compared to analysts' expectations of $88.52 million. Flywire had a negative net margin of 2.13% and a negative return on equity of 1.35%. Flywire's revenue for the quarter was up 37.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.01) earnings per share. As a group, research analysts predict that Flywire Co. will post 0.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FLYW. Truist Financial raised their price objective on Flywire from $30.00 to $39.00 and gave the stock a "buy" rating in a report on Wednesday, February 28th. Royal Bank of Canada raised their price target on shares of Flywire from $36.00 to $41.00 and gave the company an "outperform" rating in a report on Wednesday, February 28th. Wells Fargo & Company cut their target price on Flywire from $35.00 to $30.00 and set an "overweight" rating on the stock in a research report on Monday. JPMorgan Chase & Co. increased their price objective on shares of Flywire from $29.00 to $32.00 and gave the company a "neutral" rating in a research note on Wednesday, February 28th. Finally, Citigroup reduced their price target on shares of Flywire from $37.00 to $36.00 and set a "buy" rating on the stock in a research report on Thursday, April 4th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Flywire has an average rating of "Moderate Buy" and an average target price of $34.07.

Flywire 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.