The Manufacturers Life Insurance Company Sells 2,008 Shares of Flywire Co. (NASDAQ:FLYW)

The Manufacturers Life Insurance Company cut its holdings in Flywire Co. (NASDAQ:FLYW) by 2.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 66,420 shares of the company’s stock after selling 2,008 shares during the period. The Manufacturers Life Insurance Company’s holdings in Flywire were worth $1,089,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in FLYW. Quarry LP bought a new position in shares of Flywire during the 2nd quarter worth approximately $26,000. Headlands Technologies LLC raised its holdings in Flywire by 82.3% during the 2nd quarter. Headlands Technologies LLC now owns 3,343 shares of the company’s stock valued at $55,000 after acquiring an additional 1,509 shares during the period. Daiwa Securities Group Inc. purchased a new position in shares of Flywire during the 2nd quarter valued at $64,000. Advisors Asset Management Inc. grew its position in shares of Flywire by 15.4% during 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. Finally, SG Americas Securities LLC purchased a new position in shares of Flywire during the 3rd quarter valued at $149,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on FLYW shares. Wells Fargo & Company lowered shares of Flywire from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $20.00 to $18.00 in a research report on Friday, October 11th. Raymond James upped their target price on shares of Flywire from $23.00 to $27.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 8th. The Goldman Sachs Group upped their target price on shares of Flywire from $22.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Morgan Stanley upped their target price on shares of Flywire from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Finally, B. Riley restated a “buy” rating and set a $30.00 price target on shares of Flywire in a research report on Wednesday, October 2nd. Four 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, Flywire currently has an average rating of “Moderate Buy” and a consensus price target of $25.29.

Flywire Price Performance

Shares of FLYW stock opened at $20.36 on Thursday. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of 135.73, a PEG ratio of 3.07 and a beta of 1.08. The company’s fifty day moving average price is $19.53 and its 200-day moving average price is $18.03. Flywire Co. has a one year low of $15.19 and a one year high of $31.54.

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.