Victory Capital Management Inc. Has $7.61 Million Stake in Flywire Co. (NASDAQ:FLYW)

Victory Capital Management Inc. decreased its holdings in Flywire Co. (NASDAQ:FLYW - Free Report) by 60.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 464,012 shares of the company's stock after selling 713,567 shares during the period. Victory Capital Management Inc. owned approximately 0.37% of Flywire worth $7,605,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Comerica Bank grew its position in Flywire by 14.8% in the 1st quarter. Comerica Bank now owns 697,799 shares of the company's stock valued at $17,312,000 after acquiring an additional 90,003 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Flywire by 139.7% during the second quarter. Harbor Capital Advisors Inc. now owns 118,908 shares of the company's stock worth $1,949,000 after acquiring an additional 69,304 shares during the last quarter. Vanguard Group Inc. increased its stake in Flywire by 0.9% in the first quarter. Vanguard Group Inc. now owns 10,861,990 shares of the company's stock valued at $269,486,000 after purchasing an additional 100,704 shares during the period. Ensign Peak Advisors Inc acquired a new stake in Flywire during the 2nd quarter worth approximately $734,000. Finally, Assenagon Asset Management S.A. acquired a new position in Flywire in the 3rd quarter valued at $4,843,000. Hedge funds and other institutional investors own 95.90% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on FLYW. Raymond James boosted their target price on shares of Flywire from $23.00 to $27.00 and gave the stock a "strong-buy" rating in a research report on Friday, November 8th. Citigroup decreased their price target on shares of Flywire from $27.00 to $25.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. Wells Fargo & Company lowered shares of Flywire from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $20.00 to $18.00 in a report on Friday, October 11th. Royal Bank of Canada lowered their price target 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, Morgan Stanley lifted their target price on shares of Flywire from $20.00 to $21.00 and gave the company an "equal weight" rating in a report on Monday, November 11th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $24.86.

Flywire Stock Down 0.0 %

NASDAQ FLYW traded down $0.01 during trading on Friday, hitting $22.92. The company's stock had a trading volume of 1,033,718 shares, compared to its average volume of 1,413,271. The firm has a market cap of $2.85 billion, a P/E ratio of 152.80, a price-to-earnings-growth ratio of 4.33 and a beta of 0.95. Flywire Co. has a 52 week low of $15.19 and a 52 week high of $31.54. The firm has a 50 day moving average price of $18.12 and a 200 day moving average price of $17.60.

Insider Activity

In other news, CEO Michael Massaro sold 8,629 shares of the company's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction of $155,667.16. Following the completion of the sale, the chief executive officer now directly owns 1,739,351 shares in the company, valued at approximately $31,377,892.04. This represents a 0.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO David R. King sold 3,353 shares of the firm's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $60,488.12. Following the completion of the sale, the chief technology officer now directly owns 620,184 shares in the company, valued at approximately $11,188,119.36. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,966 shares of company stock valued at $480,143 over the last 90 days. 3.90% of the stock is owned by company 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.