Flywire Co. (NASDAQ:FLYW) Holdings Trimmed by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust cut its holdings in Flywire Co. (NASDAQ:FLYW) by 21.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 192,947 shares of the company’s stock after selling 52,855 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in Flywire were worth $3,162,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. raised its position in shares of Flywire by 3.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 19,884 shares of the company’s stock worth $493,000 after purchasing an additional 702 shares during the period. Arizona State Retirement System lifted its position in shares of Flywire by 3.1% in the 2nd quarter. Arizona State Retirement System now owns 30,475 shares of the company’s stock valued at $499,000 after acquiring an additional 908 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in Flywire by 45.6% in the 1st quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company’s stock worth $76,000 after purchasing an additional 954 shares during the period. Truist Financial Corp grew its position in Flywire by 6.2% during the 2nd quarter. Truist Financial Corp now owns 19,434 shares of the company’s stock worth $319,000 after purchasing an additional 1,128 shares in the last quarter. Finally, Ascent Group LLC raised its stake in Flywire by 10.1% during the 1st quarter. Ascent Group LLC now owns 14,165 shares of the company’s stock valued at $351,000 after purchasing an additional 1,300 shares during the period. 95.90% of the stock is owned by institutional investors and hedge funds.

Flywire Price Performance

Flywire stock opened at $17.44 on Monday. Flywire Co. has a one year low of $15.19 and a one year high of $31.54. The company’s fifty day moving average price is $17.11 and its two-hundred day moving average price is $17.52. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of -249.14, a PEG ratio of 7.47 and a beta of 0.95.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The company had revenue of $103.68 million during the quarter, compared to the consensus estimate of $100.30 million. Flywire had a negative net margin of 1.85% and a negative return on equity of 1.03%. The firm’s revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.15) earnings per share. As a group, sell-side analysts anticipate that Flywire Co. will post 0.05 earnings per share for the current year.

Insider Transactions at Flywire

In related news, General Counsel Peter Butterfield sold 1,769 shares of Flywire stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $31,912.76. Following the transaction, the general counsel now owns 273,517 shares in the company, valued at $4,934,246.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Flywire news, General Counsel Peter Butterfield sold 1,769 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $31,912.76. Following the sale, the general counsel now owns 273,517 shares of the company’s stock, valued at $4,934,246.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael Massaro sold 8,629 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $155,667.16. Following the completion of the sale, the chief executive officer now directly owns 1,739,351 shares of the company’s stock, valued at $31,377,892.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,966 shares of company stock worth $480,143. 3.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on Flywire from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Wells Fargo & Company cut Flywire from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $20.00 to $18.00 in a research note on Friday, October 11th. Royal Bank of Canada reduced their price target on shares of Flywire from $34.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. BTIG Research decreased their price target on shares of Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, Citigroup dropped their price objective on shares of Flywire from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Four 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $26.07.

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.