Flywire Co. (NASDAQ:FLYW) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. grew its position in Flywire Co. (NASDAQ:FLYW - Free Report) by 73.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 806,257 shares of the company's stock after acquiring an additional 342,245 shares during the quarter. Victory Capital Management Inc. owned about 0.65% of Flywire worth $16,625,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in FLYW. Advisors Asset Management Inc. boosted its position in Flywire by 15.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company's stock valued at $66,000 after buying an additional 539 shares during the period. Bullseye Asset Management LLC boosted its holdings in shares of Flywire by 0.7% in the third 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 during the period. Captrust Financial Advisors grew its position in shares of Flywire by 12.3% during the 3rd 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. Global Retirement Partners LLC bought a new position in Flywire during the 4th quarter worth about $30,000. Finally, Harbor Capital Advisors Inc. increased its position in Flywire by 0.7% during the 4th quarter. Harbor Capital Advisors Inc. now owns 224,775 shares of the company's stock valued at $4,635,000 after purchasing an additional 1,531 shares during the period. Institutional investors own 95.90% of the company's stock.

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Flywire Stock Performance

Shares of NASDAQ FLYW traded up $0.39 during mid-day trading on Friday, hitting $10.49. The stock had a trading volume of 766,592 shares, compared to its average volume of 2,481,597. Flywire Co. has a twelve month low of $8.62 and a twelve month high of $26.15. The firm has a market cap of $1.30 billion, a PE ratio of 69.90, a PEG ratio of 1.41 and a beta of 1.17. The company has a 50 day moving average of $17.23 and a two-hundred day moving average of $18.38.

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

Analyst Upgrades and Downgrades

FLYW has been the topic of a number of recent research reports. UBS Group downgraded shares of Flywire from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $25.00 to $15.00 in a research note on Wednesday, February 26th. Morgan Stanley dropped their target price on Flywire from $21.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 26th. Raymond James lowered Flywire from a "strong-buy" rating to an "outperform" rating and reduced their price target for the stock from $29.00 to $17.00 in a research report on Wednesday, February 26th. BTIG Research downgraded Flywire from a "buy" rating to a "neutral" rating in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group downgraded shares of Flywire from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $26.00 to $15.00 in a report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $19.23.

Insiders Place Their Bets

In related news, General Counsel Peter Butterfield sold 5,523 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $10.08, for a total value of $55,671.84. Following the completion of the sale, the general counsel now owns 247,561 shares of the company's stock, valued at approximately $2,495,414.88. The trade was a 2.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gretchen Howard acquired 8,889 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average price of $10.94 per share, for a total transaction of $97,245.66. Following the completion of the acquisition, the director now owns 30,770 shares in the company, valued at $336,623.80. The trade was a 40.62 % increase in their position. The disclosure for this purchase can be found here. 3.90% of the stock is owned by insiders.

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.