Twenty Acre Capital LP Trims Stock Holdings in Flywire Co. (NASDAQ:FLYW)

Twenty Acre Capital LP trimmed its stake in shares of Flywire Co. (NASDAQ:FLYW) by 29.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 275,000 shares of the company’s stock after selling 115,400 shares during the quarter. Flywire accounts for about 4.6% of Twenty Acre Capital LP’s holdings, making the stock its 13th largest position. Twenty Acre Capital LP owned about 0.22% of Flywire worth $5,670,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Global Retirement Partners LLC bought a new position in Flywire in the 4th quarter valued at $30,000. Arcadia Investment Management Corp MI purchased a new stake in shares of Flywire in the fourth quarter worth $48,000. KBC Group NV boosted its stake in Flywire by 64.0% during the fourth quarter. KBC Group NV now owns 4,899 shares of the company’s stock valued at $101,000 after buying an additional 1,911 shares during the period. Venturi Wealth Management LLC purchased a new position in Flywire during the fourth quarter worth about $104,000. Finally, World Investment Advisors LLC bought a new position in Flywire in the 3rd quarter worth about $209,000. 95.90% of the stock is owned by hedge funds and other institutional investors.

Flywire Price Performance

FLYW opened at $8.83 on Thursday. Flywire Co. has a 1 year low of $8.20 and a 1 year high of $23.40. The stock’s 50 day simple moving average is $12.05 and its 200 day simple moving average is $16.96. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 58.87, a PEG ratio of 1.41 and a beta of 1.22.

Flywire (NASDAQ:FLYW) last issued its earnings results on Tuesday, February 25th. The company reported ($0.12) 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 analysts’ expectations of $118.85 million. As a group, sell-side analysts anticipate that Flywire Co. will post 0.14 EPS for the current year.

Insider Buying and Selling at Flywire

In related news, Director Gretchen Howard acquired 8,889 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was acquired at an average cost of $10.94 per share, for a total transaction of $97,245.66. Following 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Peter Butterfield sold 5,523 shares of Flywire 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 sale, the general counsel now directly owns 247,561 shares in the company, valued at $2,495,414.88. The trade was a 2.18 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Raymond James lowered Flywire from a “strong-buy” rating to an “outperform” rating and cut their price objective for the stock from $29.00 to $17.00 in a report on Wednesday, February 26th. Stephens lowered shares of Flywire from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $26.00 to $15.00 in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft downgraded shares of Flywire from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $26.00 to $16.00 in a report on Wednesday, February 26th. Citigroup cut their target price on shares of Flywire from $26.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Finally, Morgan Stanley lowered their price target on Flywire from $21.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $17.00.

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.