Victory Capital Management Inc. Has $29.70 Million Position in Flywire Co. (NASDAQ:FLYW)

Victory Capital Management Inc. grew its holdings in shares of Flywire Co. (NASDAQ:FLYW - Free Report) by 14.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,283,035 shares of the company's stock after purchasing an additional 162,427 shares during the quarter. Victory Capital Management Inc. owned approximately 1.06% of Flywire worth $29,702,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in FLYW. RiverPark Advisors LLC purchased a new stake in Flywire in the 3rd quarter valued at about $83,000. Envestnet Portfolio Solutions Inc. purchased a new position in Flywire during the third quarter worth approximately $224,000. Handelsinvest Investeringsforvaltning acquired a new position in shares of Flywire in the 4th quarter valued at $176,000. OneAscent Financial Services LLC purchased a new stake in shares of Flywire during the 4th quarter valued at $212,000. Finally, Olympiad Research LP purchased a new position in shares of Flywire in the 3rd quarter worth $317,000. Hedge funds and other institutional investors own 95.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on FLYW shares. BTIG Research decreased their price objective on shares of Flywire from $34.00 to $27.00 and set a "buy" rating for the company in a research note on Wednesday. JPMorgan Chase & Co. upped their target price on Flywire from $29.00 to $32.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 28th. Citigroup reduced their price target on Flywire from $36.00 to $33.00 and set a "buy" rating on the stock in a research report on Wednesday. The Goldman Sachs Group lifted their price objective on shares of Flywire from $29.00 to $34.00 and gave the company a "buy" rating in a research note on Wednesday, February 28th. Finally, Morgan Stanley lowered shares of Flywire from an "overweight" rating to an "equal weight" rating and raised their price target for the company from $27.00 to $30.00 in a report on Friday, March 1st. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Flywire presently has a consensus rating of "Moderate Buy" and an average target price of $32.20.

Flywire Trading Down 16.1 %

Flywire stock traded down $3.30 during mid-day trading on Wednesday, reaching $17.24. The company's stock had a trading volume of 11,780,750 shares, compared to its average volume of 1,637,159. The business has a 50 day moving average price of $23.59 and a 200-day moving average price of $23.17. Flywire Co. has a twelve month low of $15.77 and a twelve month high of $35.80. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of -188.53, a PEG ratio of 11.18 and a beta of 1.09.

Flywire (NASDAQ:FLYW - Get Free Report) last issued its earnings results on Tuesday, May 7th. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.01). The company had revenue of $114.10 million during the quarter, compared to analyst estimates of $107.81 million. Flywire had a negative net margin of 2.13% and a negative return on equity of 1.35%. The business's revenue was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. On average, equities analysts expect that Flywire Co. will post 0.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Rob Orgel sold 17,150 shares of the company's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $27.30, for a total transaction of $468,195.00. Following the completion of the transaction, the chief operating officer now owns 468,285 shares in the company, valued at $12,784,180.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Michael Massaro sold 28,822 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $27.30, for a total value of $786,840.60. Following the completion of the transaction, the chief executive officer now directly owns 1,743,032 shares of the company's stock, valued at approximately $47,584,773.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Rob Orgel sold 17,150 shares of Flywire stock in a transaction on Monday, March 4th. The shares were sold at an average price of $27.30, for a total value of $468,195.00. Following the sale, the chief operating officer now directly owns 468,285 shares in the company, valued at approximately $12,784,180.50. The disclosure for this sale can be found here. Insiders have sold 141,800 shares of company stock valued at $3,743,582 over the last three months. Company insiders own 5.00% of the company's stock.

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.