Victory Capital Management Inc. Has $19.30 Million Holdings in Flywire Co. (NASDAQ:FLYW)

Victory Capital Management Inc. lifted its holdings in shares of Flywire Co. (NASDAQ:FLYW) by 14.7% during the second quarter, Holdings Channel.com reports. The firm owned 1,177,579 shares of the company’s stock after acquiring an additional 151,126 shares during the quarter. Victory Capital Management Inc.’s holdings in Flywire were worth $19,301,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Headlands Technologies LLC acquired a new position in shares of Flywire during the first quarter worth $46,000. Quest Partners LLC bought a new position in Flywire during the fourth quarter worth $52,000. Advisors Asset Management Inc. raised its stake in Flywire by 45.6% during the first quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company’s stock worth $76,000 after buying an additional 954 shares during the last quarter. Assetmark Inc. raised its stake in Flywire by 16.9% during the fourth quarter. Assetmark Inc. now owns 5,061 shares of the company’s stock worth $117,000 after buying an additional 733 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. bought a new position in Flywire during the fourth quarter worth $243,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

Flywire Price Performance

Shares of NASDAQ FLYW opened at $17.83 on Friday. The stock has a market capitalization of $2.21 billion, a P/E ratio of -162.09, a P/E/G ratio of 6.45 and a beta of 0.98. The company has a 50-day moving average price of $17.72 and a 200-day moving average price of $19.58. Flywire Co. has a 1 year low of $15.19 and a 1 year high of $32.84.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The business had revenue of $103.68 million for the quarter, compared to analyst estimates of $100.30 million. Flywire had a negative net margin of 1.85% and a negative return on equity of 1.03%. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.15) earnings per share. As a group, equities research analysts anticipate that Flywire Co. will post 0.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Flywire from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Wells Fargo & Company lowered their target price on shares of Flywire from $25.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Royal Bank of Canada lowered their target price on shares of Flywire from $34.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Citigroup lowered their target price on shares of Flywire from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $18.00 price target on shares of Flywire in a research note on Thursday, May 23rd. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Flywire presently has a consensus rating of “Moderate Buy” and an average price target of $25.92.

Insider Activity

In other news, CEO Michael Massaro sold 8,629 shares of Flywire stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total transaction of $155,667.16. Following the completion of the transaction, the chief executive officer now directly owns 1,739,351 shares in the company, valued at $31,377,892.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Michael Massaro sold 8,629 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total transaction of $155,667.16. Following the transaction, the chief executive officer now directly owns 1,739,351 shares in the company, valued at $31,377,892.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Rob Orgel sold 4,552 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction of $82,118.08. Following the transaction, the chief operating officer now owns 477,472 shares in the company, valued at $8,613,594.88. The disclosure for this sale can be found here. Insiders sold 26,966 shares of company stock worth $480,143 over the last three months. 3.90% of the stock is currently 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.