Allspring Global Investments Holdings LLC Lowers Stock Position in Flywire Co. (NASDAQ:FLYW)

Allspring Global Investments Holdings LLC reduced its stake in shares of Flywire Co. (NASDAQ:FLYW) by 69.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 461,327 shares of the company’s stock after selling 1,037,326 shares during the period. Allspring Global Investments Holdings LLC owned 0.38% of Flywire worth $10,680,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Arizona State Retirement System lifted its position in shares of Flywire by 20.5% during the 4th quarter. Arizona State Retirement System now owns 29,888 shares of the company’s stock valued at $692,000 after buying an additional 5,086 shares in the last quarter. WoodTrust Financial Corp lifted its position in shares of Flywire by 24.6% during the 4th quarter. WoodTrust Financial Corp now owns 39,700 shares of the company’s stock valued at $919,000 after buying an additional 7,850 shares in the last quarter. Values First Advisors Inc. purchased a new position in shares of Flywire during the 4th quarter valued at about $808,000. Raymond James Financial Services Advisors Inc. lifted its position in shares of Flywire by 255.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 160,919 shares of the company’s stock valued at $3,725,000 after buying an additional 115,691 shares in the last quarter. Finally, Raymond James & Associates lifted its holdings in Flywire by 42.0% in the 4th quarter. Raymond James & Associates now owns 334,549 shares of the company’s stock worth $7,745,000 after purchasing an additional 99,009 shares in the last quarter. 95.90% of the stock is owned by hedge funds and other institutional investors.

Flywire Price Performance

Shares of FLYW opened at $20.79 on Wednesday. The business’s 50 day simple moving average is $24.23 and its 200-day simple moving average is $24.11. Flywire Co. has a 1 year low of $18.65 and a 1 year high of $35.80. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of -230.97, a price-to-earnings-growth ratio of 8.21 and a beta of 1.02.

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

Insider Activity at Flywire

In related news, COO Rob Orgel sold 17,150 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $27.30, for a total transaction of $468,195.00. Following the sale, the chief operating officer now owns 468,285 shares in the company, valued at approximately $12,784,180.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Flywire news, COO Rob Orgel sold 17,150 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $27.30, for a total value of $468,195.00. Following the sale, the chief operating officer now owns 468,285 shares in the company, valued at $12,784,180.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Massaro sold 28,822 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $27.30, for a total value of $786,840.60. Following the completion of the sale, the chief executive officer now owns 1,743,032 shares in the company, valued at approximately $47,584,773.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 141,800 shares of company stock worth $3,743,582. Company insiders own 5.00% of the company’s stock.

Wall Street Analysts Forecast Growth

FLYW has been the subject of several recent analyst reports. William Blair restated an “outperform” rating on shares of Flywire in a research note on Wednesday, February 28th. The Goldman Sachs Group upped their price target on Flywire from $29.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft initiated coverage on Flywire in a research note on Tuesday, February 6th. They issued a “buy” rating and a $27.00 price target for the company. UBS Group upped their price target on Flywire from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Finally, JPMorgan Chase & Co. upped their price target on Flywire from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $34.27.

About Flywire

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.