Blair William & Co. IL Sells 36,187 Shares of Flywire Co. (NASDAQ:FLYW)

Blair William & Co. IL reduced its stake in shares of Flywire Co. (NASDAQ:FLYW - Free Report) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,850,980 shares of the company's stock after selling 36,187 shares during the quarter. Blair William & Co. IL owned approximately 1.49% of Flywire worth $38,167,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. acquired a new position in shares of Flywire in the fourth quarter worth $35,579,000. Teacher Retirement System of Texas bought a new stake in shares of Flywire in the fourth quarter valued at approximately $24,363,000. Jennison Associates LLC grew its stake in shares of Flywire by 53.0% in the fourth quarter. Jennison Associates LLC now owns 3,406,312 shares of the company's stock worth $70,238,000 after acquiring an additional 1,179,562 shares during the last quarter. Vanguard Group Inc. increased its position in Flywire by 6.9% during the fourth quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company's stock worth $249,238,000 after acquiring an additional 781,711 shares during the period. Finally, Victory Capital Management Inc. raised its stake in Flywire by 73.8% during the 4th quarter. Victory Capital Management Inc. now owns 806,257 shares of the company's stock valued at $16,625,000 after purchasing an additional 342,245 shares during the last quarter. Hedge funds and other institutional investors own 95.90% of the company's stock.

Wall Street Analyst Weigh In

FLYW has been the subject of several research reports. Seaport Res Ptn cut shares of Flywire from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft cut Flywire from a "buy" rating to a "hold" rating and lowered their price objective for the company from $26.00 to $16.00 in a research report on Wednesday, February 26th. Morgan Stanley cut their price objective on Flywire from $21.00 to $15.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Raymond James cut shares of Flywire from a "strong-buy" rating to an "outperform" rating and dropped their target price for the stock from $29.00 to $17.00 in a research report on Wednesday, February 26th. Finally, Stephens lowered Flywire from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $26.00 to $15.00 in a research report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $18.23.

Remove Ads

Flywire Price Performance

FLYW stock traded up $0.14 during mid-day trading on Tuesday, reaching $9.64. The company had a trading volume of 242,613 shares, compared to its average volume of 2,435,399. Flywire Co. has a 52 week low of $8.62 and a 52 week high of $24.33. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 64.27, a PEG ratio of 1.41 and a beta of 1.17. The stock has a 50 day simple moving average of $15.00 and a two-hundred day simple moving average of $17.75.

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

Insiders Place Their Bets

In other news, General Counsel Peter Butterfield sold 5,523 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $10.08, for a total transaction of $55,671.84. Following the completion of the transaction, the general counsel now owns 247,561 shares of the company's stock, valued at approximately $2,495,414.88. This trade represents a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gretchen Howard acquired 8,889 shares of Flywire stock in a transaction dated Thursday, February 27th. The shares were bought at an average cost of $10.94 per share, with a total value of $97,245.66. Following the transaction, the director now owns 30,770 shares in the company, valued at approximately $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. Insiders own 3.90% of the company's stock.

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.