Flywire Co. (NASDAQ:FLYW) Position Reduced by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its stake in shares of Flywire Co. (NASDAQ:FLYW - Free Report) by 27.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 296,064 shares of the company's stock after selling 114,476 shares during the period. Massachusetts Financial Services Co. MA owned 0.24% of Flywire worth $6,105,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in FLYW. Trexquant Investment LP increased its position in Flywire by 123.0% during the 4th quarter. Trexquant Investment LP now owns 517,926 shares of the company's stock worth $10,680,000 after purchasing an additional 285,662 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Flywire by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 2,828,430 shares of the company's stock worth $58,335,000 after acquiring an additional 28,944 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Flywire by 1.1% in the 4th quarter. Franklin Resources Inc. now owns 1,966,179 shares of the company's stock valued at $40,543,000 after acquiring an additional 21,818 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Flywire by 1.3% during the 4th quarter. Alliancebernstein L.P. now owns 145,705 shares of the company's stock valued at $3,004,000 after acquiring an additional 1,839 shares in the last quarter. Finally, Rock Creek Group LP purchased a new stake in Flywire during the 4th quarter worth $1,050,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Analyst Ratings Changes

Several research firms have commented on FLYW. Royal Bank of Canada cut their price objective on Flywire from $25.00 to $20.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. UBS Group downgraded Flywire from a "buy" rating to a "neutral" rating and dropped their target price for the company from $25.00 to $15.00 in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft cut Flywire from a "buy" rating to a "hold" rating and decreased their price target for the stock from $26.00 to $16.00 in a report on Wednesday, February 26th. Citigroup reduced their target price on shares of Flywire from $26.00 to $13.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Finally, Raymond James downgraded shares of Flywire from a "strong-buy" rating to an "outperform" rating and dropped their price target for the stock from $29.00 to $17.00 in a research note on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Flywire currently has a consensus rating of "Hold" and a consensus price target of $17.92.

Flywire Stock Up 1.3 %

Shares of NASDAQ:FLYW traded up $0.11 on Friday, reaching $8.53. 2,740,941 shares of the company's stock were exchanged, compared to its average volume of 1,669,654. The business's 50-day moving average is $12.74 and its two-hundred day moving average is $17.13. Flywire Co. has a fifty-two week low of $8.20 and a fifty-two week high of $23.40. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 56.87, a PEG ratio of 1.41 and a beta of 1.22.

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 return on equity of 2.49% and a net margin of 4.23%. The company had revenue of $112.80 million for the quarter, compared to analyst estimates of $118.85 million. Analysts predict that Flywire Co. will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Flywire news, Director Gretchen Howard acquired 8,889 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The stock was acquired 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Peter Butterfield sold 5,523 shares of Flywire stock in a transaction 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 sale, 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 position. The disclosure for this sale can be found here. Corporate 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.