1,181,521 Shares in Flywire Co. (NASDAQ:FLYW) Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas bought a new position in shares of Flywire Co. (NASDAQ:FLYW - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,181,521 shares of the company's stock, valued at approximately $24,363,000. Teacher Retirement System of Texas owned 0.95% of Flywire as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC boosted its holdings in shares of Flywire by 3.6% during the third quarter. FMR LLC now owns 9,408,098 shares of the company's stock worth $154,199,000 after acquiring an additional 326,120 shares during the period. Westfield Capital Management Co. LP boosted its stake in Flywire by 19.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 6,226,912 shares of the company's stock valued at $102,059,000 after purchasing an additional 1,006,516 shares during the period. Jennison Associates LLC grew its holdings in Flywire by 53.0% in the 4th quarter. Jennison Associates LLC now owns 3,406,312 shares of the company's stock valued at $70,238,000 after buying an additional 1,179,562 shares in the last quarter. State Street Corp increased its position in Flywire by 5.2% during the 3rd quarter. State Street Corp now owns 2,930,906 shares of the company's stock worth $48,038,000 after buying an additional 145,894 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Flywire by 0.6% during the third quarter. Geode Capital Management LLC now owns 2,799,486 shares of the company's stock worth $45,892,000 after buying an additional 17,062 shares in the last quarter. Institutional investors and hedge funds own 95.90% of the company's stock.

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Flywire Price Performance

Shares of NASDAQ FLYW traded down $0.19 during mid-day trading on Wednesday, hitting $10.02. 3,283,457 shares of the stock traded hands, compared to its average volume of 1,576,561. Flywire Co. has a twelve month low of $8.62 and a twelve month high of $25.27. The firm has a 50 day simple moving average of $15.83 and a two-hundred day simple moving average of $17.97. The company has a market cap of $1.24 billion, a PE ratio of 66.80, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17.

Flywire (NASDAQ:FLYW - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.11). Flywire had a return on equity of 2.49% and a net margin of 4.23%. The firm had revenue of $112.80 million for the quarter, compared to the consensus estimate of $118.85 million. On average, equities research analysts anticipate that Flywire Co. will post 0.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on FLYW shares. UBS Group lowered shares of Flywire from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $25.00 to $15.00 in a research report on Wednesday, February 26th. Stephens cut shares of Flywire from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $26.00 to $15.00 in a report on Wednesday, February 26th. Wells Fargo & Company cut their price target on Flywire from $20.00 to $16.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 26th. Royal Bank of Canada reduced their target price on Flywire from $25.00 to $20.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Finally, Raymond James cut shares of Flywire from a "strong-buy" rating to an "outperform" rating and decreased their price objective for the company from $29.00 to $17.00 in a research note on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $18.23.

Insider Transactions at Flywire

In related news, Director Gretchen Howard purchased 8,889 shares of the firm's stock in a transaction dated Thursday, February 27th. The stock was bought at an average price of $10.94 per share, with a total value of $97,245.66. Following the completion of the purchase, the director now owns 30,770 shares in the company, valued at approximately $336,623.80. This represents a 40.62 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Peter Butterfield sold 5,523 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $10.08, for a total value of $55,671.84. Following the transaction, the general counsel now owns 247,561 shares of the company's stock, valued at $2,495,414.88. This trade represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.