SG Americas Securities LLC Sells 32,449 Shares of Flywire Corporation $FLYW

SG Americas Securities LLC lessened its position in shares of Flywire Corporation (NASDAQ:FLYW) by 41.5% in the first quarter, HoldingsChannel.com reports. The firm owned 45,738 shares of the company’s stock after selling 32,449 shares during the quarter. SG Americas Securities LLC’s holdings in Flywire were worth $532,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in FLYW. Royal Bank of Canada boosted its stake in shares of Flywire by 13.6% in the 4th quarter. Royal Bank of Canada now owns 9,025 shares of the company’s stock valued at $128,000 after purchasing an additional 1,081 shares during the last quarter. Global Retirement Partners LLC bought a new position in Flywire during the fourth quarter worth $32,000. Daiwa Securities Group Inc. lifted its holdings in Flywire by 78.4% in the second quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock valued at $66,000 after buying an additional 2,497 shares during the period. Keybank National Association OH boosted its position in Flywire by 16.5% during the fourth quarter. Keybank National Association OH now owns 26,010 shares of the company’s stock valued at $368,000 after acquiring an additional 3,687 shares during the last quarter. Finally, Allegheny Financial Group boosted its position in Flywire by 35.7% during the fourth quarter. Allegheny Financial Group now owns 14,767 shares of the company’s stock valued at $209,000 after acquiring an additional 3,887 shares during the last quarter. Institutional investors own 95.90% of the company’s stock.

Flywire Trading Up 1.2%

FLYW opened at $18.55 on Wednesday. Flywire Corporation has a 1-year low of $10.10 and a 1-year high of $18.92. The company has a market cap of $2.29 billion, a price-to-earnings ratio of 80.65, a PEG ratio of 1.87 and a beta of 1.32. The company’s fifty day moving average price is $15.97 and its two-hundred day moving average price is $13.92.

Flywire (NASDAQ:FLYW) last posted its earnings results on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.03 by $0.07. Flywire had a net margin of 4.45% and a return on equity of 3.78%. The company had revenue of $184.00 million during the quarter, compared to the consensus estimate of $170.24 million. During the same period in the previous year, the firm posted ($0.03) earnings per share. The firm’s revenue for the quarter was up 40.9% on a year-over-year basis. As a group, equities analysts forecast that Flywire Corporation will post 0.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Flywire

In related news, insider Mohit Kansal sold 54,543 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $15.15, for a total transaction of $826,326.45. Following the completion of the sale, the insider owned 504,320 shares in the company, valued at approximately $7,640,448. This represents a 9.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Phillip John Riese sold 37,921 shares of Flywire stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $16.87, for a total transaction of $639,727.27. Following the transaction, the director directly owned 234,493 shares in the company, valued at $3,955,896.91. This represents a 13.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 410,391 shares of company stock worth $6,700,493. 5.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FLYW. Truist Financial lifted their price objective on Flywire from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. Zacks Research raised Flywire from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 20th. Raymond James Financial reiterated an “outperform” rating and issued a $22.00 target price on shares of Flywire in a report on Wednesday, May 27th. Morgan Stanley boosted their price target on Flywire from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, Citigroup raised their price objective on shares of Flywire from $13.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.07.

Flywire Company Profile

Flywire Corp (NASDAQ: FLYW) is a global payments enablement and software company that specializes in facilitating complex cross-border transactions. Its cloud-based platform streamlines receivables and payer workflows across key verticals including education, healthcare, travel and hospitality, and commercial services. Flywire’s technology integrates with institutional systems to automate payment posting, reconciliation and reporting, aiming to improve the payer experience and accelerate cash flow for its clients.

Founded in 2009 by entrepreneur Iker Marcaide as peerTransfer, the company rebranded as Flywire in 2015.