Hsbc Holdings PLC Acquires Shares of 42,000 Flywire Corporation $FLYW

Hsbc Holdings PLC bought a new position in shares of Flywire Corporation (NASDAQ:FLYW) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 42,000 shares of the company’s stock, valued at approximately $593,000.

Other hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC acquired a new stake in shares of Flywire during the 1st quarter valued at approximately $271,000. Millennium Management LLC boosted its holdings in Flywire by 15.1% in the first quarter. Millennium Management LLC now owns 1,330,971 shares of the company’s stock worth $12,644,000 after purchasing an additional 175,007 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Flywire by 14.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,241,226 shares of the company’s stock worth $11,792,000 after purchasing an additional 159,239 shares during the period. American Century Companies Inc. increased its stake in Flywire by 7.3% during the second quarter. American Century Companies Inc. now owns 107,856 shares of the company’s stock valued at $1,262,000 after purchasing an additional 7,357 shares during the last quarter. Finally, Prudential Financial Inc. bought a new stake in Flywire during the second quarter valued at $184,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

Insider Buying and Selling at Flywire

In other Flywire news, CEO Michael Massaro sold 50,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $15.26, for a total transaction of $763,000.00. Following the transaction, the chief executive officer owned 2,678,051 shares of the company’s stock, valued at approximately $40,867,058.26. This trade represents a 1.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mohit Kansal sold 3,650 shares of the business’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $16.96, for a total transaction of $61,904.00. Following the sale, the insider owned 500,670 shares in the company, valued at $8,491,363.20. This trade represents a 0.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 410,391 shares of company stock valued at $6,700,493. 5.00% of the stock is currently owned by insiders.

Flywire Price Performance

FLYW opened at $18.78 on Thursday. The stock’s 50 day moving average price is $16.38 and its 200 day moving average price is $14.05. The stock has a market cap of $2.32 billion, a P/E ratio of 81.65, a P/E/G ratio of 1.80 and a beta of 1.32. Flywire Corporation has a 12 month low of $10.10 and a 12 month high of $18.92.

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

Analyst Upgrades and Downgrades

FLYW has been the topic of a number of research reports. Zacks Research cut shares of Flywire from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. New Street Research set a $16.00 price objective on shares of Flywire in a research report on Thursday, May 21st. JPMorgan Chase & Co. raised shares of Flywire from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $14.00 to $16.00 in a research report on Thursday, May 21st. Citigroup increased their price objective on shares of Flywire from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, Morgan Stanley raised their target price on shares of Flywire from $17.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Nine analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $18.29.

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.