TimesSquare Capital Management LLC Sells 401,845 Shares of Flywire Co. (NASDAQ:FLYW)

TimesSquare Capital Management LLC cut its position in Flywire Co. (NASDAQ:FLYW) by 48.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 422,035 shares of the company’s stock after selling 401,845 shares during the period. TimesSquare Capital Management LLC owned 0.35% of Flywire worth $9,770,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. William Blair Investment Management LLC acquired a new stake in Flywire in the 3rd quarter valued at $100,341,000. Vanguard Group Inc. lifted its stake in shares of Flywire by 13.8% in the third quarter. Vanguard Group Inc. now owns 10,517,763 shares of the company’s stock valued at $335,411,000 after buying an additional 1,278,646 shares in the last quarter. FMR LLC grew its holdings in shares of Flywire by 56.7% during the third quarter. FMR LLC now owns 2,804,218 shares of the company’s stock valued at $89,427,000 after buying an additional 1,014,757 shares during the last quarter. Jennison Associates LLC increased its position in shares of Flywire by 4,619.3% during the fourth quarter. Jennison Associates LLC now owns 810,027 shares of the company’s stock worth $18,752,000 after acquiring an additional 792,863 shares in the last quarter. Finally, Loomis Sayles & Co. L P raised its holdings in shares of Flywire by 112.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,330,360 shares of the company’s stock worth $42,425,000 after acquiring an additional 704,938 shares during the last quarter. 95.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Flywire

In other news, General Counsel Peter Butterfield sold 4,730 shares of Flywire stock in a transaction on Monday, March 4th. The stock was sold at an average price of $27.30, for a total value of $129,129.00. Following the completion of the transaction, the general counsel now directly owns 214,678 shares in the company, valued at $5,860,709.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Phillip John Riese sold 50,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $26.41, for a total value of $1,320,500.00. Following the transaction, the director now owns 232,037 shares of the company’s stock, valued at $6,128,097.17. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, General Counsel Peter Butterfield sold 4,730 shares of Flywire stock in a transaction on Monday, March 4th. The shares were sold at an average price of $27.30, for a total value of $129,129.00. Following the sale, the general counsel now directly owns 214,678 shares of the company’s stock, valued at approximately $5,860,709.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 141,800 shares of company stock worth $3,743,582. Corporate insiders own 5.00% of the company’s stock.

Flywire Price Performance

Shares of NASDAQ FLYW traded up $0.02 during trading on Friday, reaching $17.70. 77,773 shares of the stock traded hands, compared to its average volume of 1,642,759. The company has a 50-day moving average of $23.15 and a 200-day moving average of $23.10. Flywire Co. has a 52-week low of $15.77 and a 52-week high of $35.80. The stock has a market capitalization of $2.17 billion, a P/E ratio of -196.42, a price-to-earnings-growth ratio of 11.18 and a beta of 1.09.

Flywire (NASDAQ:FLYW) last issued its earnings results on Tuesday, May 7th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The business had revenue of $114.10 million for the quarter, compared to the consensus estimate of $107.81 million. Flywire had a negative return on equity of 1.35% and a negative net margin of 2.13%. Flywire’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.03) EPS. Analysts expect that Flywire Co. will post 0.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on FLYW shares. Morgan Stanley lowered Flywire from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $27.00 to $30.00 in a report on Friday, March 1st. Wells Fargo & Company lowered their price target on Flywire from $35.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday. The Goldman Sachs Group reduced their target price on shares of Flywire from $32.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday. UBS Group dropped their price target on shares of Flywire from $34.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Royal Bank of Canada reduced their price objective on shares of Flywire from $41.00 to $34.00 and set an “outperform” rating for the company in a research report on Wednesday. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Flywire presently has an average rating of “Moderate Buy” and an average target price of $31.60.

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.