Arizona State Retirement System Has $499,000 Stock Holdings in Flywire Co. (NASDAQ:FLYW)

Arizona State Retirement System grew its holdings in Flywire Co. (NASDAQ:FLYW) by 3.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 30,475 shares of the company’s stock after buying an additional 908 shares during the quarter. Arizona State Retirement System’s holdings in Flywire were worth $499,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nebula Research & Development LLC acquired a new stake in shares of Flywire in the fourth quarter valued at $1,082,000. Bullseye Asset Management LLC increased its stake in shares of Flywire by 123.4% in the fourth quarter. Bullseye Asset Management LLC now owns 98,325 shares of the company’s stock valued at $2,276,000 after buying an additional 54,306 shares in the last quarter. Eagle Asset Management Inc. acquired a new stake in Flywire in the fourth quarter worth about $9,505,000. Primecap Management Co. CA increased its position in Flywire by 671.2% in the fourth quarter. Primecap Management Co. CA now owns 147,300 shares of the company’s stock worth $3,410,000 after purchasing an additional 128,200 shares during the period. Finally, Vanguard Group Inc. increased its position in Flywire by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 10,761,286 shares of the company’s stock worth $249,124,000 after purchasing an additional 243,523 shares during the period. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Flywire Stock Performance

NASDAQ FLYW opened at $17.99 on Tuesday. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of -163.55, a PEG ratio of 5.83 and a beta of 0.98. The stock’s 50 day moving average price is $17.79 and its two-hundred day moving average price is $19.36. Flywire Co. has a 52 week low of $15.19 and a 52 week high of $32.84.

Flywire (NASDAQ:FLYW) last released its earnings results on Tuesday, August 6th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The firm had revenue of $103.68 million during the quarter, compared to the consensus estimate of $100.30 million. Flywire had a negative net margin of 1.85% and a negative return on equity of 1.03%. The company’s revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.15) EPS. On average, equities research analysts forecast that Flywire Co. will post 0.06 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FLYW. Citigroup lowered their price objective on Flywire from $27.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Wedbush reiterated a “neutral” rating and issued a $18.00 price objective on shares of Flywire in a research report on Thursday, May 23rd. BTIG Research lowered their price objective on Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Royal Bank of Canada lowered their price objective on Flywire from $34.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lifted their price objective on Flywire from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $25.92.

Insiders Place Their Bets

In other Flywire news, CTO David R. King sold 3,504 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $17.31, for a total transaction of $60,654.24. Following the transaction, the chief technology officer now owns 616,680 shares of the company’s stock, valued at approximately $10,674,730.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, General Counsel Peter Butterfield sold 1,769 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction of $31,912.76. Following the transaction, the general counsel now directly owns 273,517 shares of the company’s stock, valued at approximately $4,934,246.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO David R. King sold 3,504 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $17.31, for a total value of $60,654.24. Following the transaction, the chief technology officer now directly owns 616,680 shares in the company, valued at $10,674,730.80. The disclosure for this sale can be found here. Insiders have sold 26,966 shares of company stock valued at $480,143 in the last 90 days. 3.90% of the stock is currently owned by insiders.

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.