Fmr LLC Reduces Position in Flywire Co. (NASDAQ:FLYW)

FMR LLC lowered its position in shares of Flywire Co. (NASDAQ:FLYW - Free Report) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,797,166 shares of the company's stock after selling 610,932 shares during the quarter. FMR LLC owned about 7.07% of Flywire worth $181,398,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Global Retirement Partners LLC bought a new stake in Flywire in the fourth quarter worth approximately $30,000. Arcadia Investment Management Corp MI acquired a new stake in Flywire in the fourth quarter valued at approximately $48,000. KBC Group NV raised its position in shares of Flywire by 64.0% during the fourth quarter. KBC Group NV now owns 4,899 shares of the company's stock worth $101,000 after purchasing an additional 1,911 shares during the period. Venturi Wealth Management LLC bought a new position in shares of Flywire in the 4th quarter worth $104,000. Finally, Highland Capital Management LLC acquired a new position in Flywire during the fourth quarter worth $221,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Gretchen Howard purchased 8,889 shares of the stock in a transaction dated Thursday, February 27th. The shares were purchased at an average cost of $10.94 per share, with a total value of $97,245.66. Following the acquisition, the director now directly 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Peter Butterfield sold 5,523 shares of the firm's stock in a transaction 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 owns 247,561 shares in the company, valued at approximately $2,495,414.88. This trade represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.90% of the company's stock.

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Flywire Stock Performance

Shares of FLYW traded down $0.04 on Tuesday, hitting $8.61. 1,566,479 shares of the stock traded hands, compared to its average volume of 1,672,767. Flywire Co. has a one year low of $8.20 and a one year high of $23.40. The company has a market capitalization of $1.06 billion, a PE ratio of 57.40, a P/E/G ratio of 1.41 and a beta of 1.22. The business has a 50 day simple moving average of $12.29 and a 200 day simple moving average of $17.02.

Flywire (NASDAQ:FLYW - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.12) earnings per share (EPS) 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 the consensus estimate of $118.85 million. On average, equities analysts expect that Flywire Co. will post 0.14 earnings per share for the current year.

Wall Street Analyst Weigh In

FLYW has been the topic of several analyst reports. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $9.00 target price (down previously from $16.00) on shares of Flywire in a research report on Monday. Raymond James downgraded shares of Flywire from a "strong-buy" rating to an "outperform" rating and lowered their target price for the company from $29.00 to $17.00 in a report on Wednesday, February 26th. BTIG Research cut shares of Flywire from a "buy" rating to a "neutral" rating in a report on Wednesday, February 26th. Royal Bank of Canada decreased their price objective on shares of Flywire from $25.00 to $20.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. Finally, Citigroup cut their target price on Flywire from $26.00 to $13.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $17.00.

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.