Truist Financial Corp Acquires 1,128 Shares of Flywire Co. (NASDAQ:FLYW)

Truist Financial Corp boosted its holdings in Flywire Co. (NASDAQ:FLYW) by 6.2% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,434 shares of the company’s stock after acquiring an additional 1,128 shares during the quarter. Truist Financial Corp’s holdings in Flywire were worth $319,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FLYW. Vanguard Group Inc. increased its holdings in shares of Flywire by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 10,761,286 shares of the company’s stock worth $249,124,000 after buying an additional 243,523 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Flywire by 5.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 28,840 shares of the company’s stock valued at $668,000 after acquiring an additional 1,482 shares during the last quarter. Harbour Capital Advisors LLC raised its position in Flywire by 47.1% during the first quarter. Harbour Capital Advisors LLC now owns 18,903 shares of the company’s stock valued at $446,000 after purchasing an additional 6,050 shares in the last quarter. WoodTrust Financial Corp raised its position in Flywire by 6.3% during the first quarter. WoodTrust Financial Corp now owns 42,200 shares of the company’s stock valued at $1,047,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Flywire by 10.6% during the first quarter. Principal Financial Group Inc. now owns 1,061,546 shares of the company’s stock worth $26,337,000 after purchasing an additional 101,613 shares during the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Flywire Trading Up 2.5 %

Shares of NASDAQ:FLYW opened at $17.48 on Friday. The company has a 50-day moving average price of $17.10 and a 200-day moving average price of $17.93. The company has a market cap of $2.17 billion, a price-to-earnings ratio of -158.91, a price-to-earnings-growth ratio of 6.94 and a beta of 0.97. Flywire Co. has a 12 month low of $15.19 and a 12 month high of $31.54.

Flywire (NASDAQ:FLYW) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.11) 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 the consensus estimate of $100.30 million. Flywire had a negative net margin of 1.85% and a negative return on equity of 1.03%. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.15) EPS. As a group, research analysts forecast that Flywire Co. will post 0.05 EPS for the current fiscal year.

Insider Buying and Selling

In other Flywire news, CTO David R. King sold 3,353 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total transaction of $60,488.12. Following the transaction, the chief technology officer now directly owns 620,184 shares of the company’s stock, valued at approximately $11,188,119.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CTO David R. King sold 3,353 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 $60,488.12. Following the transaction, the chief technology officer now owns 620,184 shares in the company, valued at $11,188,119.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Peter Butterfield sold 1,769 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction of $31,912.76. Following the completion of the transaction, the general counsel now directly owns 273,517 shares of the company’s stock, valued at approximately $4,934,246.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,966 shares of company stock valued at $480,143 over the last quarter. 3.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on FLYW shares. Royal Bank of Canada reduced their price objective on Flywire from $34.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Citigroup reduced their price target on shares of Flywire from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Flywire from $25.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Wells Fargo & Company cut shares of Flywire from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $20.00 to $18.00 in a research note on Friday, October 11th. Finally, BTIG Research decreased their target price on shares of Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $26.07.

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.