Fmr LLC Sells 610,932 Shares of Flywire Co. (NASDAQ:FLYW)

Fmr LLC lowered its position in Flywire Co. (NASDAQ:FLYW) by 6.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 8,797,166 shares of the company’s stock after selling 610,932 shares during the quarter. Fmr LLC owned 0.07% of Flywire worth $181,398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the company. Russell Investments Group Ltd. boosted its position in shares of Flywire by 19,292.2% in the fourth quarter. Russell Investments Group Ltd. now owns 29,864 shares of the company’s stock valued at $616,000 after acquiring an additional 29,710 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Flywire by 8.6% in the 4th quarter. Envestnet Asset Management Inc. now owns 95,300 shares of the company’s stock valued at $1,965,000 after purchasing an additional 7,571 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Flywire by 15.5% during the fourth quarter. Wells Fargo & Company MN now owns 100,220 shares of the company’s stock worth $2,067,000 after buying an additional 13,423 shares during the last quarter. ExodusPoint Capital Management LP bought a new stake in Flywire during the 4th quarter worth $1,233,000. Finally, Bryce Point Capital LLC bought a new stake in shares of Flywire during the fourth quarter worth about $539,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Flywire

In other news, General Counsel Peter Butterfield sold 5,523 shares of Flywire stock in a transaction dated Monday, March 10th. The stock was 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 of the company’s stock, valued at approximately $2,495,414.88. The trade was a 2.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gretchen Howard purchased 8,889 shares of Flywire stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average price of $10.94 per share, for a total transaction of $97,245.66. Following the transaction, the director now directly owns 30,770 shares of the company’s stock, valued at $336,623.80. The trade was a 40.62 % increase in their position. The disclosure for this purchase can be found here. 3.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on FLYW. Royal Bank of Canada reduced their price objective on shares of Flywire from $25.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Seaport Res Ptn lowered shares of Flywire from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. The Goldman Sachs Group dropped their price target on Flywire from $15.00 to $11.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 2nd. BTIG Research lowered shares of Flywire from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 26th. Finally, Stephens lowered Flywire from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $26.00 to $15.00 in a report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Flywire has an average rating of “Hold” and a consensus price target of $17.92.

Flywire Stock Performance

Shares of FLYW opened at $8.53 on Friday. The stock has a market cap of $1.05 billion, a PE ratio of 56.87, a price-to-earnings-growth ratio of 1.41 and a beta of 1.22. The firm’s 50-day simple moving average is $12.74 and its two-hundred day simple 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.

Flywire (NASDAQ:FLYW) last posted its 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). Flywire had a return on equity of 2.49% and a net margin of 4.23%. The business had revenue of $112.80 million during the quarter, compared to the consensus estimate of $118.85 million. Equities research analysts predict that Flywire Co. will post 0.14 EPS for the current year.

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.