Teacher Retirement System of Texas Invests $24.36 Million in Flywire Co. (NASDAQ:FLYW)

Teacher Retirement System of Texas purchased a new position in Flywire Co. (NASDAQ:FLYW) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,181,521 shares of the company’s stock, valued at approximately $24,363,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of FLYW. Global Retirement Partners LLC purchased a new position in shares of Flywire in the 4th quarter worth $30,000. Arcadia Investment Management Corp MI purchased a new position in shares of Flywire in the 4th quarter worth $48,000. Advisors Asset Management Inc. boosted its stake in shares of Flywire by 15.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock worth $66,000 after buying an additional 539 shares during the last quarter. KBC Group NV boosted its stake in shares of Flywire by 64.0% in the 4th quarter. KBC Group NV now owns 4,899 shares of the company’s stock worth $101,000 after buying an additional 1,911 shares during the last quarter. Finally, Venturi Wealth Management LLC purchased a new position in shares of Flywire in the 4th quarter worth $104,000. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Flywire

In other news, Director Gretchen Howard bought 8,889 shares of Flywire stock in a transaction dated Thursday, February 27th. The shares were purchased at an average cost of $10.94 per share, with a total value of $97,245.66. Following the completion of the acquisition, the director now owns 30,770 shares of the company’s stock, valued at $336,623.80. This trade represents a 40.62 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Peter Butterfield sold 5,523 shares of Flywire stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $10.08, for a total value of $55,671.84. Following the completion of the sale, the general counsel now directly owns 247,561 shares in the company, valued at $2,495,414.88. This trade represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.

Flywire Stock Down 1.6 %

NASDAQ:FLYW opened at $9.96 on Friday. The business’s 50-day simple moving average is $16.18 and its two-hundred day simple moving average is $18.06. The stock has a market cap of $1.23 billion, a PE ratio of 66.40, a P/E/G ratio of 1.41 and a beta of 1.17. Flywire Co. has a 52 week low of $8.62 and a 52 week high of $25.28.

Flywire (NASDAQ:FLYW) last issued its earnings results on Tuesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.11). Flywire had a return on equity of 2.49% and a net margin of 4.23%. The firm had revenue of $112.80 million during the quarter, compared to the consensus estimate of $118.85 million. Sell-side analysts anticipate that Flywire Co. will post 0.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on FLYW. Raymond James downgraded Flywire from a “strong-buy” rating to an “outperform” rating and lowered their target price for the company from $29.00 to $17.00 in a research report on Wednesday, February 26th. BTIG Research downgraded Flywire from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 26th. Wells Fargo & Company lowered their target price on Flywire from $20.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft downgraded Flywire from a “buy” rating to a “hold” rating and lowered their target price for the company from $26.00 to $16.00 in a research report on Wednesday, February 26th. Finally, Stephens downgraded Flywire from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $26.00 to $15.00 in a research report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $19.23.

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.