Federated Hermes Inc. Trims Position in Flywire Corporation $FLYW

Federated Hermes Inc. trimmed its position in shares of Flywire Corporation (NASDAQ:FLYW) by 65.1% during the 3rd quarter, Holdings Channel reports. The firm owned 128,047 shares of the company’s stock after selling 238,965 shares during the period. Federated Hermes Inc.’s holdings in Flywire were worth $1,734,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FLYW. Voss Capital LP grew its holdings in Flywire by 176.0% during the 2nd quarter. Voss Capital LP now owns 8,100,000 shares of the company’s stock valued at $94,770,000 after buying an additional 5,165,014 shares in the last quarter. Divisadero Street Capital Management LP grew its holdings in Flywire by 178.0% during the 2nd quarter. Divisadero Street Capital Management LP now owns 4,784,654 shares of the company’s stock valued at $55,980,000 after buying an additional 3,063,518 shares in the last quarter. Azora Capital LP purchased a new stake in Flywire during the second quarter valued at $33,355,000. M&G PLC bought a new position in shares of Flywire in the 2nd quarter valued at about $12,677,000. Finally, Ameriprise Financial Inc. increased its stake in Flywire by 430.7% during the second quarter. Ameriprise Financial Inc. now owns 1,289,540 shares of the company’s stock worth $15,088,000 after acquiring an additional 1,046,544 shares during the last quarter. Institutional investors own 95.90% of the company’s stock.

Flywire Stock Performance

FLYW stock opened at $11.15 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.53 and a quick ratio of 1.53. Flywire Corporation has a 1-year low of $8.20 and a 1-year high of $21.31. The business has a 50-day moving average price of $13.92 and a 200 day moving average price of $13.25. The company has a market capitalization of $1.36 billion, a P/E ratio of -557.22, a PEG ratio of 1.28 and a beta of 1.28.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.19 by $0.04. Flywire had a negative net margin of 0.42% and a positive return on equity of 0.80%. The business had revenue of $194.10 million during the quarter, compared to analyst estimates of $180.07 million. During the same quarter in the previous year, the business posted $0.30 EPS. The company’s quarterly revenue was up 27.6% compared to the same quarter last year. As a group, equities research analysts forecast that Flywire Corporation will post 0.14 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Voss Capital, Lp purchased 181,121 shares of Flywire stock in a transaction dated Tuesday, December 30th. The stock was purchased at an average cost of $14.15 per share, with a total value of $2,562,862.15. Following the transaction, the insider owned 9,625,009 shares in the company, valued at approximately $136,193,877.35. The trade was a 1.92% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Peter Butterfield sold 13,327 shares of the company’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $15.01, for a total value of $200,038.27. Following the sale, the general counsel owned 374,933 shares of the company’s stock, valued at $5,627,744.33. This trade represents a 3.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 38,426 shares of company stock worth $567,215. 4.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Citigroup raised Flywire to a “hold” rating in a research report on Thursday, October 23rd. The Goldman Sachs Group lifted their price target on shares of Flywire from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. UBS Group raised their price objective on shares of Flywire from $13.50 to $15.50 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Truist Financial set a $17.00 price target on Flywire in a report on Tuesday, January 20th. Finally, Wall Street Zen lowered Flywire from a “buy” rating to a “hold” rating in a research note on Sunday, January 25th. Six research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Flywire presently has a consensus rating of “Hold” and a consensus price target of $15.73.

About Flywire

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.