Twenty Acre Capital LP Cuts Stock Holdings in Flywire Co. (NASDAQ:FLYW)

Twenty Acre Capital LP reduced its stake in shares of Flywire Co. (NASDAQ:FLYW - Free Report) by 29.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 275,000 shares of the company's stock after selling 115,400 shares during the quarter. Flywire accounts for 4.6% of Twenty Acre Capital LP's holdings, making the stock its 13th largest position. Twenty Acre Capital LP owned approximately 0.22% of Flywire worth $5,670,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Flywire by 6.9% in the fourth quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company's stock valued at $249,238,000 after buying an additional 781,711 shares in the last quarter. Jennison Associates LLC increased its holdings in Flywire by 53.0% in the 4th 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 in the last quarter. State Street Corp raised its position in Flywire by 5.2% during the third quarter. State Street Corp now owns 2,930,906 shares of the company's stock worth $48,038,000 after acquiring an additional 145,894 shares during the period. Geode Capital Management LLC lifted its holdings in Flywire by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 2,828,430 shares of the company's stock valued at $58,335,000 after purchasing an additional 28,944 shares in the last quarter. Finally, Wasatch Advisors LP lifted its holdings in Flywire by 62.1% during the fourth quarter. Wasatch Advisors LP now owns 2,741,644 shares of the company's stock valued at $56,533,000 after purchasing an additional 1,049,888 shares in the last quarter. 95.90% of the stock is owned by institutional investors and hedge funds.

Flywire Price Performance

Shares of Flywire stock traded up $0.05 on Friday, hitting $8.88. The company had a trading volume of 2,281,740 shares, compared to its average volume of 1,681,250. Flywire Co. has a 52 week low of $8.20 and a 52 week high of $23.40. The business has a 50-day simple moving average of $11.58 and a 200-day simple moving average of $16.87. The company has a market cap of $1.10 billion, a PE ratio of 59.20, a PEG ratio of 1.41 and a beta of 1.22.

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 the consensus estimate of ($0.01) by ($0.11). Flywire had a net margin of 4.23% and a return on equity of 2.49%. The company had revenue of $112.80 million for the quarter, compared to analysts' expectations of $118.85 million. On average, equities research analysts predict that Flywire Co. will post 0.14 earnings per share for the current fiscal year.

Insider Activity at Flywire

In other news, Director Gretchen Howard bought 8,889 shares of the firm's stock in a transaction dated Thursday, February 27th. The shares were bought at an average price of $10.94 per share, with a total value of $97,245.66. Following the completion of the transaction, the director now owns 30,770 shares of the company's stock, valued at $336,623.80. This trade represents a 40.62 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 completion of the transaction, the general counsel now owns 247,561 shares in the company, valued at approximately $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.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FLYW. Seaport Res Ptn cut Flywire from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Morgan Stanley reduced their target price on shares of Flywire from $21.00 to $15.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 26th. Raymond James cut shares of Flywire from a "strong-buy" rating to an "outperform" rating and dropped their price objective for the company from $29.00 to $17.00 in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft downgraded shares of Flywire from a "buy" rating to a "hold" rating and cut their price objective for the company from $26.00 to $16.00 in a report on Wednesday, February 26th. Finally, BTIG Research lowered Flywire from a "buy" rating to a "neutral" rating in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $17.00.

Flywire Company 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.