Eventide Asset Management LLC Has $28.97 Million Holdings in Flywire Co. (NASDAQ:FLYW)

Eventide Asset Management LLC decreased its position in Flywire Co. (NASDAQ:FLYW - Free Report) by 42.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,767,625 shares of the company's stock after selling 1,304,806 shares during the quarter. Eventide Asset Management LLC owned approximately 1.41% of Flywire worth $28,971,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Advisors Asset Management Inc. grew its stake in shares of Flywire by 45.6% in the first quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company's stock worth $76,000 after acquiring an additional 954 shares during the last quarter. Public Employees Retirement Association of Colorado acquired a new stake in Flywire in the 1st quarter worth $358,000. Harbor Capital Advisors Inc. increased its holdings in shares of Flywire by 139.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 118,908 shares of the company's stock worth $1,949,000 after purchasing an additional 69,304 shares during the period. Dakota Wealth Management acquired a new position in shares of Flywire during the second quarter valued at about $199,000. Finally, Gilliland Jeter Wealth Management LLC lifted its stake in shares of Flywire by 104.3% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 11,801 shares of the company's stock valued at $193,000 after buying an additional 6,025 shares during the period. Institutional investors and hedge funds own 95.90% of the company's stock.

Flywire Stock Down 2.5 %

FLYW stock traded down $0.59 during midday trading on Friday, reaching $22.71. 854,150 shares of the company's stock traded hands, compared to its average volume of 1,410,809. The company has a market cap of $2.83 billion, a price-to-earnings ratio of 151.40, a PEG ratio of 4.49 and a beta of 0.95. The company has a 50-day simple moving average of $18.70 and a two-hundred day simple moving average of $17.77. Flywire Co. has a 1-year low of $15.19 and a 1-year high of $31.54.

Insider Activity

In other news, CEO Michael Massaro sold 8,629 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total transaction of $155,667.16. Following the transaction, the chief executive officer now directly owns 1,739,351 shares in the company, valued at approximately $31,377,892.04. This represents a 0.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Rob Orgel sold 4,552 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total transaction of $82,118.08. Following the completion of the sale, the chief operating officer now directly owns 477,472 shares of the company's stock, valued at approximately $8,613,594.88. This represents a 0.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,966 shares of company stock worth $480,143. 3.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FLYW. Citigroup reduced their price objective on Flywire from $27.00 to $25.00 and set a "buy" rating for the company in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Flywire from $25.00 to $22.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada dropped their price objective on shares of Flywire from $34.00 to $25.00 and set an "outperform" rating for the company in a research note on Wednesday, August 7th. B. Riley reiterated a "buy" rating and set a $30.00 target price on shares of Flywire in a research report on Wednesday, October 2nd. Finally, Morgan Stanley increased their price target on shares of Flywire from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Monday, November 11th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $24.86.

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.