Bank of New York Mellon Corp Sells 279,001 Shares of Flywire Co. (NASDAQ:FLYW)

Bank of New York Mellon Corp cut its holdings in shares of Flywire Co. (NASDAQ:FLYW - Free Report) by 22.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 981,363 shares of the company's stock after selling 279,001 shares during the period. Bank of New York Mellon Corp owned about 0.79% of Flywire worth $20,236,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of FLYW. Curi RMB Capital LLC bought a new position in Flywire in the third quarter worth about $1,143,000. Quest Partners LLC lifted its position in Flywire by 575.1% in the third quarter. Quest Partners LLC now owns 14,622 shares of the company's stock worth $240,000 after purchasing an additional 12,456 shares during the period. Avior Wealth Management LLC lifted its position in Flywire by 17.0% in the third quarter. Avior Wealth Management LLC now owns 23,647 shares of the company's stock worth $388,000 after purchasing an additional 3,433 shares during the period. Jennison Associates LLC lifted its position in shares of Flywire by 5.3% during 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. Finally, Advisors Asset Management Inc. lifted its position in shares of 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 during the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Flywire Trading Up 0.2 %

NASDAQ:FLYW traded up $0.02 during mid-day trading on Thursday, hitting $10.10. The company's stock had a trading volume of 2,040,529 shares, compared to its average volume of 2,517,618. Flywire Co. has a fifty-two week low of $8.62 and a fifty-two week high of $26.41. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 67.33, a P/E/G ratio of 1.41 and a beta of 1.17. The stock has a fifty day moving average of $17.23 and a 200-day moving average of $18.38.

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Flywire (NASDAQ:FLYW - Get Free Report) last posted its quarterly 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 business had revenue of $112.80 million during the quarter, compared to analyst estimates of $118.85 million. On average, equities analysts anticipate that Flywire Co. will post 0.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. The Goldman Sachs Group downgraded shares of Flywire from a "buy" rating to a "neutral" rating and cut their target price for the company from $26.00 to $15.00 in a research note on Wednesday, February 26th. Seaport Res Ptn downgraded shares of Flywire from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Raymond James downgraded shares of Flywire from a "strong-buy" rating to an "outperform" rating and lowered their target price for the stock from $29.00 to $17.00 in a research report on Wednesday, February 26th. Morgan Stanley lowered their target price on shares of Flywire from $21.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Flywire from a "buy" rating to a "hold" rating and lowered their target price for the stock from $26.00 to $16.00 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, the stock presently has an average rating of "Hold" and an average target price of $19.23.

Insider Transactions at Flywire

In related news, General Counsel Peter Butterfield sold 5,523 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were 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 owns 247,561 shares of the company's stock, valued at $2,495,414.88. This trade represents a 2.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gretchen Howard purchased 8,889 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average cost of $10.94 per share, with a total value 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 represents a 40.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 3.90% of the company's stock.

Flywire Company 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.