New York State Common Retirement Fund Buys 110,124 Shares of Flywire Co. (NASDAQ:FLYW)

New York State Common Retirement Fund lifted its stake in Flywire Co. (NASDAQ:FLYW - Free Report) by 99.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 220,625 shares of the company's stock after acquiring an additional 110,124 shares during the quarter. New York State Common Retirement Fund owned 0.18% of Flywire worth $4,549,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its stake in shares of Flywire by 15.4% in the third quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company's stock valued at $66,000 after purchasing an additional 539 shares during the period. Bullseye Asset Management LLC raised its position in Flywire by 0.7% in the 3rd quarter. Bullseye Asset Management LLC now owns 146,846 shares of the company's stock valued at $2,407,000 after purchasing an additional 1,000 shares in the last quarter. Captrust Financial Advisors grew its position in shares of Flywire by 12.3% during the third quarter. Captrust Financial Advisors now owns 13,377 shares of the company's stock worth $219,000 after buying an additional 1,463 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in Flywire by 0.7% in the fourth quarter. Harbor Capital Advisors Inc. now owns 224,775 shares of the company's stock valued at $4,635,000 after acquiring an additional 1,531 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Flywire by 7.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,351 shares of the company's stock worth $448,000 after purchasing an additional 1,845 shares in the last quarter. Hedge funds and other institutional investors own 95.90% of the company's stock.

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Insider Transactions at Flywire

In other Flywire news, Director Gretchen Howard bought 8,889 shares of Flywire stock in a transaction dated Thursday, February 27th. The shares were acquired at an average cost of $10.94 per share, with a total value of $97,245.66. Following the acquisition, the director now directly owns 30,770 shares of the company's stock, valued at $336,623.80. The trade was a 40.62 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FLYW. Citigroup reduced their price objective on shares of Flywire from $27.00 to $26.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. Raymond James lowered Flywire from a "strong-buy" rating to an "outperform" rating and lowered their price target for the stock from $29.00 to $17.00 in a report on Wednesday, February 26th. Seaport Res Ptn downgraded shares of Flywire from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 14th. The Goldman Sachs Group lowered shares of Flywire from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $26.00 to $15.00 in a research report on Wednesday, February 26th. Finally, Royal Bank of Canada reduced their price target on shares of Flywire from $25.00 to $20.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Flywire currently has an average rating of "Hold" and an average target price of $19.23.

Flywire Stock Performance

Shares of NASDAQ FLYW traded up $0.05 during trading hours on Tuesday, hitting $10.81. The stock had a trading volume of 1,814,059 shares, compared to its average volume of 2,377,552. The firm's 50-day moving average price is $18.85 and its two-hundred day moving average price is $18.79. The company has a market capitalization of $1.34 billion, a P/E ratio of 72.10, a P/E/G ratio of 1.41 and a beta of 1.08. Flywire Co. has a 52 week low of $8.62 and a 52 week high of $27.40.

Flywire (NASDAQ:FLYW - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.11). Flywire had a return on equity of 2.49% and a net margin of 4.23%. The business had revenue of $112.80 million for the quarter, compared to analyst estimates of $118.85 million. As a group, analysts expect that Flywire Co. will post 0.14 EPS for the current fiscal year.

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.