Readystate Asset Management LP Sells 240,504 Shares of Flywire Co. (NASDAQ:FLYW)

Readystate Asset Management LP trimmed its position in Flywire Co. (NASDAQ:FLYW - Free Report) by 23.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 798,696 shares of the company's stock after selling 240,504 shares during the period. Readystate Asset Management LP owned approximately 0.64% of Flywire worth $13,091,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. lifted its position in Flywire by 15.4% in the third quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company's stock worth $66,000 after purchasing an additional 539 shares during the period. Arizona State Retirement System lifted its position in shares of Flywire by 3.1% during the 2nd quarter. Arizona State Retirement System now owns 30,475 shares of the company's stock valued at $499,000 after acquiring an additional 908 shares during the last quarter. Truist Financial Corp lifted its position in shares of Flywire by 6.2% during the 2nd quarter. Truist Financial Corp now owns 19,434 shares of the company's stock valued at $319,000 after acquiring an additional 1,128 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Flywire by 7.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 21,295 shares of the company's stock valued at $349,000 after acquiring an additional 1,411 shares during the last quarter. Finally, RiverPark Advisors LLC lifted its position in shares of Flywire by 9.6% during the 2nd quarter. RiverPark Advisors LLC now owns 16,142 shares of the company's stock valued at $265,000 after acquiring an additional 1,416 shares during the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Flywire Trading Down 3.0 %

Flywire stock traded down $0.67 during mid-day trading on Thursday, hitting $21.38. 254,019 shares of the company's stock were exchanged, compared to its average volume of 1,405,281. The stock has a market cap of $2.66 billion, a P/E ratio of 147.00, a P/E/G ratio of 3.79 and a beta of 1.08. Flywire Co. has a 1-year low of $15.19 and a 1-year high of $31.54. The stock has a 50 day moving average of $19.07 and a two-hundred day moving average of $17.90.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on FLYW shares. BTIG Research cut their price objective on Flywire from $27.00 to $26.00 and set a "buy" rating for the company in a research report on Wednesday, August 7th. Royal Bank of Canada cut their price objective on Flywire from $34.00 to $25.00 and set an "outperform" rating for the company in a research report on Wednesday, August 7th. The Goldman Sachs Group increased their price objective on Flywire from $22.00 to $27.00 and gave the company a "buy" rating in a research report on Monday. JPMorgan Chase & Co. increased their price objective on Flywire from $18.00 to $21.00 and gave the company a "neutral" rating in a research report on Tuesday, August 20th. Finally, Wells Fargo & Company lowered Flywire from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $20.00 to $18.00 in a report on Friday, October 11th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $25.29.

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.