Price T Rowe Associates Inc. MD Decreases Position in Flywire Co. (NASDAQ:FLYW)

Price T Rowe Associates Inc. MD reduced its stake in shares of Flywire Co. (NASDAQ:FLYW) by 65.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 83,400 shares of the company’s stock after selling 159,317 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.07% of Flywire worth $1,720,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FLYW. Barclays PLC raised its stake in shares of Flywire by 361.4% during the third quarter. Barclays PLC now owns 197,493 shares of the company’s stock valued at $3,236,000 after purchasing an additional 154,694 shares during the period. World Investment Advisors LLC acquired a new stake in Flywire during the 3rd quarter valued at $209,000. Harbor Capital Advisors Inc. increased its stake in Flywire by 0.7% during the 4th quarter. Harbor Capital Advisors Inc. now owns 224,775 shares of the company’s stock worth $4,635,000 after buying an additional 1,531 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Flywire by 33.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 393,200 shares of the company’s stock worth $8,108,000 after buying an additional 97,687 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in Flywire by 337.1% in the 4th quarter. SG Americas Securities LLC now owns 39,709 shares of the company’s stock valued at $819,000 after buying an additional 30,625 shares during the last quarter. 95.90% of the stock is owned by institutional investors and hedge funds.

Flywire Stock Performance

FLYW stock opened at $11.12 on Friday. The stock’s fifty day moving average is $9.56 and its two-hundred day moving average is $16.17. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 74.13, a PEG ratio of 1.41 and a beta of 1.22. Flywire Co. has a 1 year low of $8.20 and a 1 year high of $23.40.

Flywire (NASDAQ:FLYW) last posted its earnings results on Tuesday, May 6th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. The firm had revenue of $128.70 million during the quarter, compared to analysts’ expectations of $124.18 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. Flywire’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.05) EPS. As a group, analysts predict that Flywire Co. will post 0.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FLYW has been the topic of several recent analyst reports. Citigroup cut their price target on Flywire from $26.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. BTIG Research lowered Flywire from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 26th. Morgan Stanley decreased their price target 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. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $9.00 price target (down from $16.00) on shares of Flywire in a report on Monday, April 14th. Finally, Wells Fargo & Company decreased their price objective on shares of Flywire from $16.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $15.62.

Insiders Place Their Bets

In other Flywire news, General Counsel Peter Butterfield sold 5,523 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $10.08, for a total transaction of $55,671.84. Following the sale, the general counsel now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gretchen Howard acquired 8,889 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was bought at an average price of $10.94 per share, with a total value of $97,245.66. Following the completion of the acquisition, the director now directly owns 30,770 shares of the company’s stock, valued at approximately $336,623.80. This represents a 40.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.90% of the stock is currently owned by insiders.

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.