Victory Capital Management Inc. Boosts Stake in Flywire Co. (NASDAQ:FLYW)

Victory Capital Management Inc. increased its holdings in shares of Flywire Co. (NASDAQ:FLYW) by 73.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 806,257 shares of the company’s stock after acquiring an additional 342,245 shares during the period. Victory Capital Management Inc. owned approximately 0.65% of Flywire worth $16,625,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of FLYW. Keybank National Association OH grew its holdings in Flywire by 59.0% in the fourth quarter. Keybank National Association OH now owns 20,880 shares of the company’s stock valued at $431,000 after purchasing an additional 7,746 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Flywire by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 945,612 shares of the company’s stock valued at $19,499,000 after acquiring an additional 13,698 shares during the period. Versor Investments LP purchased a new stake in Flywire in the 4th quarter worth $1,118,000. Y Intercept Hong Kong Ltd raised its position in Flywire by 345.3% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 96,029 shares of the company’s stock worth $1,980,000 after acquiring an additional 74,465 shares during the period. Finally, Olympiad Research LP lifted its holdings in Flywire by 35.5% during the fourth quarter. Olympiad Research LP now owns 17,014 shares of the company’s stock valued at $351,000 after purchasing an additional 4,460 shares in the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Flywire Stock Performance

FLYW stock opened at $10.08 on Thursday. The firm has a market cap of $1.25 billion, a PE ratio of 67.20, a PEG ratio of 1.41 and a beta of 1.17. Flywire Co. has a one year low of $8.62 and a one year high of $26.60. The firm’s 50 day moving average price is $17.43 and its 200-day moving average price is $18.44.

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 business had revenue of $112.80 million during the quarter, compared to analyst estimates of $118.85 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. Equities research analysts predict that Flywire Co. will post 0.14 EPS for the current fiscal year.

Insider Activity

In other Flywire news, General Counsel Peter Butterfield sold 5,523 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $10.08, for a total value of $55,671.84. Following the sale, the general counsel now owns 247,561 shares of the company’s stock, valued at $2,495,414.88. The trade was a 2.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gretchen Howard purchased 8,889 shares of the stock in a transaction dated Thursday, February 27th. The shares were purchased at an average price of $10.94 per share, with a total value of $97,245.66. Following the completion of the transaction, the director now owns 30,770 shares of the company’s stock, valued at approximately $336,623.80. This trade represents a 40.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Raymond James cut shares of Flywire from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $29.00 to $17.00 in a research note on Wednesday, February 26th. Seaport Res Ptn lowered Flywire from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. The Goldman Sachs Group downgraded Flywire from a “buy” rating to a “neutral” rating and decreased their target price for the company from $26.00 to $15.00 in a research report on Wednesday, February 26th. Stephens cut Flywire from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $26.00 to $15.00 in a research report on Wednesday, February 26th. Finally, UBS Group downgraded Flywire from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $25.00 to $15.00 in a research note on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $19.23.

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.