Arizona State Retirement System Raises Stock Holdings in Flywire Co. (NASDAQ:FLYW)

Arizona State Retirement System grew its stake in shares of Flywire Co. (NASDAQ:FLYW) by 20.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,888 shares of the company’s stock after acquiring an additional 5,086 shares during the quarter. Arizona State Retirement System’s holdings in Flywire were worth $692,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in FLYW. UBS Group AG purchased a new stake in Flywire in the third quarter worth approximately $36,000. Tower Research Capital LLC TRC boosted its stake in shares of Flywire by 457.8% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,601 shares of the company’s stock worth $47,000 after buying an additional 1,314 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Flywire by 76.3% in the third quarter. Advisors Asset Management Inc. now owns 1,742 shares of the company’s stock worth $56,000 after acquiring an additional 754 shares during the period. Ensign Peak Advisors Inc purchased a new stake in Flywire during the third quarter valued at $55,000. Finally, RiverPark Advisors LLC bought a new position in Flywire in the third quarter valued at about $83,000. 95.90% of the stock is currently owned by institutional investors.

Flywire Stock Performance

FLYW opened at $20.92 on Friday. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of -232.42, a PEG ratio of 8.05 and a beta of 1.02. The company has a fifty day moving average of $24.19 and a 200 day moving average of $24.06. Flywire Co. has a fifty-two week low of $18.65 and a fifty-two week high of $35.80.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. The firm had revenue of $100.55 million during the quarter, compared to analyst estimates of $88.52 million. Flywire had a negative return on equity of 1.35% and a negative net margin of 2.13%. The business’s quarterly revenue was up 37.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.01) earnings per share. On average, equities research analysts forecast that Flywire Co. will post 0.05 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Flywire from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft began coverage on shares of Flywire in a research note on Tuesday, February 6th. They set a “buy” rating and a $27.00 price target on the stock. Royal Bank of Canada upped their price objective on Flywire from $36.00 to $41.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. UBS Group lifted their target price on Flywire from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Finally, William Blair restated an “outperform” rating on shares of Flywire in a research report on Wednesday, February 28th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $34.27.

Insiders Place Their Bets

In related news, Director Phillip John Riese sold 50,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $26.41, for a total value of $1,320,500.00. Following the completion of the transaction, the director now directly owns 232,037 shares of the company’s stock, valued at $6,128,097.17. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Phillip John Riese sold 50,000 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $26.41, for a total value of $1,320,500.00. Following the completion of the transaction, the director now owns 232,037 shares of the company’s stock, valued at approximately $6,128,097.17. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Massaro sold 13,043 shares of Flywire stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $24.07, for a total value of $313,945.01. Following the completion of the transaction, the chief executive officer now owns 1,655,673 shares of the company’s stock, valued at approximately $39,852,049.11. The disclosure for this sale can be found here. Insiders have sold a total of 141,800 shares of company stock valued at $3,743,582 in the last quarter. 5.00% of the stock is currently owned by insiders.

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.