Flywire Co. (NASDAQ:FLYW) Shares Sold by Fmr LLC

Fmr LLC trimmed its holdings in Flywire Co. (NASDAQ:FLYW) by 6.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 8,797,166 shares of the company’s stock after selling 610,932 shares during the period. Fmr LLC owned approximately 7.07% of Flywire worth $181,398,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Global Retirement Partners LLC acquired a new position in shares of Flywire in the fourth quarter valued at approximately $30,000. Arcadia Investment Management Corp MI acquired a new position in Flywire in the fourth quarter valued at $48,000. KBC Group NV grew its stake in Flywire by 64.0% during 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. Venturi Wealth Management LLC purchased a new position in shares of Flywire during the fourth quarter worth approximately $104,000. Finally, Highland Capital Management LLC acquired a new position in Flywire in the fourth quarter valued at $221,000. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Flywire Trading Up 1.3 %

NASDAQ:FLYW opened at $8.53 on Friday. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 56.87, a PEG ratio of 1.41 and a beta of 1.22. Flywire Co. has a 1-year low of $8.20 and a 1-year high of $23.40. The business’s fifty day moving average price is $12.74 and its 200 day moving average price is $17.13.

Flywire (NASDAQ:FLYW) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). The firm had revenue of $112.80 million for the quarter, compared to analyst estimates of $118.85 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. Equities analysts forecast that Flywire Co. will post 0.14 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Morgan Stanley cut their price objective on shares of Flywire from $21.00 to $15.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Royal Bank of Canada cut their price objective on Flywire from $25.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft lowered shares of Flywire from a “buy” rating to a “hold” rating and decreased their target price for the stock from $26.00 to $16.00 in a research report on Wednesday, February 26th. Citigroup reduced their price objective on shares of Flywire from $26.00 to $13.00 and set a “buy” rating for the company in a research note on Monday, March 24th. Finally, BTIG Research downgraded shares of Flywire from a “buy” rating to a “neutral” rating in a report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Flywire presently has a consensus rating of “Hold” and an average price target of $17.92.

Insider Transactions at Flywire

In other news, General Counsel Peter Butterfield sold 5,523 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $10.08, for a total transaction of $55,671.84. Following the transaction, the general counsel now owns 247,561 shares in the company, valued at approximately $2,495,414.88. The trade was a 2.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gretchen Howard bought 8,889 shares of Flywire stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average cost of $10.94 per share, with a total value of $97,245.66. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this purchase can be found here. 3.90% of the stock is owned by corporate insiders.

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.