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

Victory Capital Management Inc. trimmed its holdings in Flywire Co. (NASDAQ:FLYW) by 60.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 464,012 shares of the company’s stock after selling 713,567 shares during the period. Victory Capital Management Inc. owned 0.37% of Flywire worth $7,605,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. William Blair Investment Management LLC boosted its stake in Flywire by 125.1% during the second quarter. William Blair Investment Management LLC now owns 11,731,790 shares of the company’s stock worth $192,284,000 after buying an additional 6,519,598 shares during the last quarter. Primecap Management Co. CA boosted its position in shares of Flywire by 253.3% during the 2nd quarter. Primecap Management Co. CA now owns 1,962,633 shares of the company’s stock valued at $32,168,000 after acquiring an additional 1,407,180 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Flywire in the second quarter valued at about $12,642,000. Blair William & Co. IL increased its position in Flywire by 33.4% during the second quarter. Blair William & Co. IL now owns 1,810,719 shares of the company’s stock worth $29,678,000 after purchasing an additional 453,183 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in Flywire during the second quarter worth about $6,886,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Flywire Trading Up 2.5 %

Shares of NASDAQ FLYW opened at $22.93 on Friday. The stock has a market cap of $2.85 billion, a P/E ratio of 152.87, a PEG ratio of 4.33 and a beta of 0.95. The business’s fifty day simple moving average is $18.02 and its 200-day simple moving average is $17.58. Flywire Co. has a 12-month low of $15.19 and a 12-month high of $31.54.

Insider Buying and Selling at Flywire

In related news, CTO David R. King sold 3,504 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $17.31, for a total value of $60,654.24. Following the transaction, the chief technology officer now owns 616,680 shares of the company’s stock, valued at $10,674,730.80. This represents a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Rob Orgel sold 4,552 shares of Flywire stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $82,118.08. Following the sale, the chief operating officer now directly owns 477,472 shares of the company’s stock, valued at $8,613,594.88. This trade represents a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,966 shares of company stock valued at $480,143 in the last quarter. Corporate insiders own 3.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on FLYW. B. Riley reaffirmed a “buy” rating and set a $30.00 price target on shares of Flywire in a research report on Wednesday, October 2nd. Raymond James increased their price target on Flywire from $23.00 to $27.00 and gave the stock a “strong-buy” rating in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Flywire from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Royal Bank of Canada dropped their price target on shares of Flywire from $34.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Finally, BTIG Research decreased their price objective on shares of Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.86.

Flywire Profile

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.