Clarius Group LLC Sells 10,532 Shares of Flywire Co. (NASDAQ:FLYW)

Clarius Group LLC lowered its position in Flywire Co. (NASDAQ:FLYW) by 30.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,707 shares of the company’s stock after selling 10,532 shares during the quarter. Clarius Group LLC’s holdings in Flywire were worth $736,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. UBS Group AG bought a new position in Flywire in the 3rd quarter worth about $36,000. Tower Research Capital LLC TRC raised its stake in Flywire by 457.8% in the first quarter. Tower Research Capital LLC TRC now owns 1,601 shares of the company’s stock valued at $47,000 after purchasing an additional 1,314 shares in the last quarter. Ensign Peak Advisors Inc bought a new stake in Flywire during the third quarter valued at approximately $55,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Flywire in the 2nd quarter worth approximately $79,000. Finally, Assetmark Inc. increased its holdings in shares of Flywire by 15.1% in the 1st quarter. Assetmark Inc. now owns 3,516 shares of the company’s stock worth $103,000 after buying an additional 462 shares during the last quarter. Hedge funds and other institutional investors own 92.55% of the company’s stock.

Flywire Price Performance

Flywire stock traded down $0.20 during trading hours on Thursday, reaching $22.34. The stock had a trading volume of 188,131 shares, compared to its average volume of 1,096,664. The company has a fifty day simple moving average of $28.60 and a 200-day simple moving average of $30.41. Flywire Co. has a 52 week low of $18.65 and a 52 week high of $35.80. The stock has a market cap of $2.51 billion, a PE ratio of -204.91 and a beta of 1.19.

Flywire (NASDAQ:FLYW) last posted its earnings results on Tuesday, November 7th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.02). The business had revenue of $123.32 million during the quarter, compared to the consensus estimate of $119.50 million. Flywire had a negative return on equity of 1.96% and a negative net margin of 2.92%. The firm’s revenue for the quarter was up 29.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.04) earnings per share. Research analysts predict that Flywire Co. will post -0.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FLYW has been the subject of several research reports. Seaport Res Ptn reiterated a “buy” rating on shares of Flywire in a research report on Thursday, October 12th. Citigroup increased their price objective on Flywire from $40.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, August 10th. JPMorgan Chase & Co. dropped their target price on Flywire from $35.00 to $29.00 and set an “overweight” rating for the company in a research report on Wednesday, November 8th. Wells Fargo & Company reduced their price target on shares of Flywire from $35.00 to $33.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 8th. Finally, William Blair restated an “outperform” rating on shares of Flywire in a report on Wednesday, November 8th. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $34.79.

Insider Activity

In other Flywire news, CEO Michael Massaro sold 11,457 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $31.95, for a total transaction of $366,051.15. Following the transaction, the chief executive officer now directly owns 1,065,796 shares of the company’s stock, valued at approximately $34,052,182.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Flywire news, CFO Michael G. Ellis sold 6,500 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $31.30, for a total transaction of $203,450.00. Following the transaction, the chief financial officer now owns 240,719 shares in the company, valued at approximately $7,534,504.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Massaro sold 11,457 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $31.95, for a total value of $366,051.15. Following the completion of the transaction, the chief executive officer now owns 1,065,796 shares of the company’s stock, valued at approximately $34,052,182.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 84,792 shares of company stock valued at $2,547,875. Company insiders own 5.00% of the company’s stock.

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; and provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.