Flywire Co. (NASDAQ:FLYW) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund grew its holdings in shares of Flywire Co. (NASDAQ:FLYW) by 99.7% during the fourth quarter, Holdings Channel reports. The firm owned 220,625 shares of the company’s stock after purchasing an additional 110,124 shares during the quarter. New York State Common Retirement Fund’s holdings in Flywire were worth $4,549,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Advisors Asset Management Inc. increased its stake in Flywire by 15.4% during the third quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock worth $66,000 after purchasing an additional 539 shares during the period. Bullseye Asset Management LLC increased its stake in Flywire by 0.7% during the third quarter. Bullseye Asset Management LLC now owns 146,846 shares of the company’s stock worth $2,407,000 after purchasing an additional 1,000 shares during the period. Captrust Financial Advisors increased its stake in Flywire by 12.3% during the third quarter. Captrust Financial Advisors now owns 13,377 shares of the company’s stock worth $219,000 after purchasing an additional 1,463 shares during the period. Harbor Capital Advisors Inc. increased its stake in Flywire by 0.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 224,775 shares of the company’s stock worth $4,635,000 after purchasing an additional 1,531 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Flywire by 7.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,351 shares of the company’s stock worth $448,000 after purchasing an additional 1,845 shares during the period. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on FLYW shares. UBS Group lowered shares of Flywire from a “buy” rating to a “neutral” rating and cut their price target for the stock from $25.00 to $15.00 in a research note on Wednesday. Morgan Stanley cut their target price on shares of Flywire from $21.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Citigroup cut their target price on shares of Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Seaport Res Ptn lowered shares of Flywire from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, Royal Bank of Canada cut their target price on shares of Flywire from $25.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $19.23.

Flywire Stock Up 4.5 %

Shares of Flywire stock opened at $11.40 on Friday. The firm has a market capitalization of $1.42 billion, a P/E ratio of 76.00, a P/E/G ratio of 1.41 and a beta of 1.08. Flywire Co. has a 52 week low of $8.62 and a 52 week high of $29.53. The firm’s 50 day moving average is $19.03 and its two-hundred day moving average is $18.83.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The company had revenue of $112.80 million during the quarter, compared to analysts’ expectations of $118.85 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. As a group, research analysts expect that Flywire Co. will post 0.14 earnings per share for the current fiscal year.

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.