State Board of Administration of Florida Retirement System Purchases 590 Shares of Flywire Co. (NASDAQ:FLYW)

State Board of Administration of Florida Retirement System increased its position in Flywire Co. (NASDAQ:FLYW – Get Rating) by 5.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,500 shares of the company’s stock after purchasing an additional 590 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Flywire were worth $306,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of FLYW. MCF Advisors LLC bought a new stake in shares of Flywire in the 3rd quarter valued at about $30,000. Assetmark Inc. raised its holdings in Flywire by 170.2% in the 3rd quarter. Assetmark Inc. now owns 1,332 shares of the company’s stock valued at $31,000 after acquiring an additional 839 shares during the period. UBS Group AG bought a new position in Flywire in the 3rd quarter valued at about $36,000. Fifth Third Bancorp bought a new position in Flywire in the 4th quarter valued at about $38,000. Finally, CWM LLC raised its holdings in Flywire by 69.2% in the 4th quarter. CWM LLC now owns 1,577 shares of the company’s stock valued at $39,000 after acquiring an additional 645 shares during the period. 79.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on FLYW shares. Wells Fargo & Company increased their price target on shares of Flywire from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, March 1st. Bank of America increased their price target on shares of Flywire from $32.00 to $36.00 in a report on Wednesday, May 10th. Morgan Stanley assumed coverage on shares of Flywire in a report on Monday, January 23rd. They issued an “equal weight” rating and a $26.00 price target on the stock. Stephens increased their target price on shares of Flywire from $32.00 to $34.00 in a research report on Wednesday, May 10th. Finally, Citigroup increased their price target on shares of Flywire from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, March 2nd. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $32.00.

Flywire Price Performance

Shares of NASDAQ FLYW opened at $30.99 on Monday. The stock has a market capitalization of $3.43 billion, a P/E ratio of -103.30 and a beta of 1.15. The company has a 50-day moving average price of $28.66 and a 200-day moving average price of $25.51. Flywire Co. has a 1 year low of $14.56 and a 1 year high of $31.35.

Flywire (NASDAQ:FLYW – Get Rating) last issued its quarterly earnings data on Tuesday, February 28th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.10. The firm had revenue of $73.05 million during the quarter, compared to analysts’ expectations of $65.50 million. Flywire had a negative net margin of 10.30% and a negative return on equity of 6.89%. The business’s revenue was up 42.1% on a year-over-year basis. During the same period last year, the company earned ($0.11) earnings per share. As a group, equities research analysts anticipate that Flywire Co. will post -0.16 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Michael Massaro sold 4,166 shares of the business’s stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $24.04, for a total transaction of $100,150.64. Following the transaction, the chief executive officer now directly owns 1,023,476 shares in the company, valued at $24,604,363.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Michael Massaro sold 4,166 shares of the business’s stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $24.04, for a total transaction of $100,150.64. Following the transaction, the chief executive officer now directly owns 1,023,476 shares in the company, valued at $24,604,363.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Rob Orgel sold 15,000 shares of the business’s stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $24.01, for a total transaction of $360,150.00. Following the transaction, the chief operating officer now owns 157,191 shares in the company, valued at $3,774,155.91. The disclosure for this sale can be found here. Insiders sold 3,105,753 shares of company stock worth $91,242,372 over the last three months. 37.50% of the stock is currently owned by insiders.

Flywire Profile

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Flywire Corporation, together with its subsidiaries, operates as a payment enablement and software company in the United States, Canada, and the United Kingdom, and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay.