UBS Group AG boosted its stake in shares of Flywire Corporation (NASDAQ:FLYW – Free Report) by 44.8% during the fourth quarter, Holdings Channel reports. The fund owned 1,290,213 shares of the company’s stock after acquiring an additional 399,037 shares during the period. UBS Group AG’s holdings in Flywire were worth $18,269,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Covestor Ltd increased its stake in shares of Flywire by 217.9% in the 3rd quarter. Covestor Ltd now owns 3,233 shares of the company’s stock valued at $43,000 after buying an additional 2,216 shares during the period. Daiwa Securities Group Inc. increased its stake in Flywire by 78.4% in the second quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock valued at $66,000 after purchasing an additional 2,497 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in Flywire during the 3rd quarter worth $67,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Flywire during the second quarter worth about $119,000. Finally, Russell Investments Group Ltd. raised its holdings in Flywire by 220.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 10,216 shares of the company’s stock worth $138,000 after buying an additional 7,031 shares during the period. Institutional investors and hedge funds own 95.90% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have issued reports on FLYW. Morgan Stanley lifted their price target on Flywire from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Raymond James Financial reiterated an “outperform” rating and issued a $21.00 price target on shares of Flywire in a research note on Wednesday, May 6th. Weiss Ratings raised Flywire from a “sell (d)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $17.00 price target on shares of Flywire in a research report on Wednesday, May 6th. Finally, BTIG Research raised their target price on shares of Flywire from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Eight equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Flywire presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.17.
Flywire Trading Up 1.2%
Shares of FLYW stock opened at $16.66 on Wednesday. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 72.43, a PEG ratio of 1.23 and a beta of 1.30. The business’s 50-day moving average price is $13.09 and its 200-day moving average price is $13.26. Flywire Corporation has a 12 month low of $9.97 and a 12 month high of $18.05.
Flywire (NASDAQ:FLYW – Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating 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 company had revenue of $184.00 million during the quarter, compared to the consensus estimate of $170.24 million. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. The firm’s revenue was up 40.9% compared to the same quarter last year. On average, sell-side analysts predict that Flywire Corporation will post 0.39 earnings per share for the current fiscal year.
Insider Transactions at Flywire
In related news, CEO Michael Massaro sold 50,000 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $16.39, for a total value of $819,500.00. Following the completion of the sale, the chief executive officer directly owned 2,766,035 shares in the company, valued at $45,335,313.65. This represents a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Phillip John Riese sold 37,921 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $16.87, for a total value of $639,727.27. Following the transaction, the director directly owned 234,493 shares of the company’s stock, valued at approximately $3,955,896.91. This represents a 13.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 114,511 shares of company stock worth $1,859,470. 4.40% of the stock is currently owned by insiders.
Flywire Company Profile
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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