Flywire Co. (NASDAQ:FLYW) Position Cut by Amundi

Amundi reduced its stake in shares of Flywire Co. (NASDAQ:FLYW - Free Report) by 41.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 82,136 shares of the company's stock after selling 58,884 shares during the period. Amundi owned approximately 0.07% of Flywire worth $1,694,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Quest Partners LLC increased its stake in Flywire by 575.1% in the 3rd quarter. Quest Partners LLC now owns 14,622 shares of the company's stock valued at $240,000 after purchasing an additional 12,456 shares in the last quarter. Avior Wealth Management LLC boosted its position in shares of Flywire by 17.0% in the 3rd quarter. Avior Wealth Management LLC now owns 23,647 shares of the company's stock worth $388,000 after buying an additional 3,433 shares in the last quarter. Jennison Associates LLC grew its stake in Flywire by 5.3% in the 3rd quarter. Jennison Associates LLC now owns 2,226,750 shares of the company's stock valued at $36,496,000 after acquiring an additional 112,218 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in Flywire by 15.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company's stock valued at $66,000 after acquiring an additional 539 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in Flywire during the third quarter worth about $529,000. 95.90% of the stock is owned by institutional investors and hedge funds.

Flywire Trading Down 1.6 %

Shares of Flywire stock traded down $0.16 during trading hours on Friday, reaching $9.96. The stock had a trading volume of 2,690,753 shares, compared to its average volume of 1,540,123. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 66.40, a P/E/G ratio of 1.41 and a beta of 1.17. Flywire Co. has a 1 year low of $8.62 and a 1 year high of $25.95. The firm has a 50 day simple moving average of $16.34 and a two-hundred day simple moving average of $18.12.

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

Insider Transactions at Flywire

In other Flywire news, General Counsel Peter Butterfield sold 5,523 shares of Flywire stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gretchen Howard purchased 8,889 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The stock was bought 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 in the company, valued at approximately $336,623.80. The trade was a 40.62 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.90% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Royal Bank of Canada lowered their price target on shares of Flywire from $25.00 to $20.00 and set an "outperform" rating on the stock 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. Morgan Stanley reduced their price objective 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. Seaport Res Ptn lowered Flywire from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Finally, Stephens downgraded shares of Flywire from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $26.00 to $15.00 in a research note on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Flywire has a consensus rating of "Hold" and an average price target of $19.23.

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.