By otakuyassine3@gmail.com 
AlphaQuest LLC decreased its holdings in Flywire Co. (NASDAQ:FLYW – Free Report) by 67.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,774 shares of the company’s stock after selling 9,848 shares during the period. AlphaQuest LLC’s holdings in Flywire were worth $98,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Arizona State Retirement System grew its holdings in Flywire by 1.6% in the 4th quarter. Arizona State Retirement System now owns 32,215 shares of the company’s stock valued at $664,000 after buying an additional 513 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of Flywire by 15.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock valued at $66,000 after purchasing an additional 539 shares in the last quarter. Bullseye Asset Management LLC lifted its stake in shares of Flywire by 0.7% in the 3rd quarter. Bullseye Asset Management LLC now owns 146,846 shares of the company’s stock valued at $2,407,000 after purchasing an additional 1,000 shares in the last quarter. Captrust Financial Advisors lifted its stake in shares of Flywire by 12.3% in the 3rd quarter. Captrust Financial Advisors now owns 13,377 shares of the company’s stock valued at $219,000 after purchasing an additional 1,463 shares in the last quarter. Finally, Global Retirement Partners LLC acquired a new position in shares of Flywire in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 95.90% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the company. The Goldman Sachs Group lowered Flywire from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $26.00 to $15.00 in a research note on Wednesday, February 26th. Royal Bank of Canada reduced their price objective on Flywire from $25.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Wells Fargo & Company reduced their price objective on Flywire from $20.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. BTIG Research lowered 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 reduced their price target for the stock from $26.00 to $15.00 in a research report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $19.23.
View Our Latest Stock Report on FLYW
Flywire Trading Down 0.6 %
Shares of NASDAQ FLYW opened at $10.39 on Wednesday. Flywire Co. has a twelve month low of $8.62 and a twelve month high of $25.95. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 69.27, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17. The business has a 50 day simple moving average of $16.68 and a 200-day simple moving average of $18.23.
Flywire (NASDAQ:FLYW – Get Free Report) last issued 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 net margin of 4.23% and a return on equity of 2.49%. The firm had revenue of $112.80 million during the quarter, compared to the consensus estimate of $118.85 million. As a group, equities analysts predict that Flywire Co. will post 0.14 earnings per share for the current year.
Insider Activity
In related news, Director Gretchen Howard acquired 8,889 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average cost of $10.94 per share, for a total transaction of $97,245.66. Following the purchase, the director now directly owns 30,770 shares in the company, valued at $336,623.80. This 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 this link. Also, General Counsel Peter Butterfield sold 5,523 shares of the company’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 transaction, the general counsel now 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 disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.
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.
See Also
Want to see what other hedge funds are holding FLYW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Flywire Co. (NASDAQ:FLYW – Free Report).
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