Amundi Trims Stock Holdings in Flywire Co. (NASDAQ:FLYW)

Amundi lowered its position in shares of Flywire Co. (NASDAQ:FLYW) by 41.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 82,136 shares of the company’s stock after selling 58,884 shares during the quarter. Amundi owned about 0.07% of Flywire worth $1,694,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in Flywire during the 4th quarter valued at about $35,579,000. Arizona State Retirement System increased its stake in shares of Flywire by 1.6% during the fourth quarter. Arizona State Retirement System now owns 32,215 shares of the company’s stock valued at $664,000 after purchasing an additional 513 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Flywire by 73.8% during the fourth quarter. Victory Capital Management Inc. now owns 806,257 shares of the company’s stock valued at $16,625,000 after purchasing an additional 342,245 shares during the last quarter. Keybank National Association OH boosted its position in shares of Flywire by 59.0% in the 4th quarter. Keybank National Association OH now owns 20,880 shares of the company’s stock worth $431,000 after purchasing an additional 7,746 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Flywire by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 945,612 shares of the company’s stock worth $19,499,000 after buying an additional 13,698 shares during the last quarter. Institutional investors own 95.90% of the company’s stock.

Insider Activity at Flywire

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

Flywire Price Performance

FLYW stock opened at $10.45 on Tuesday. Flywire Co. has a 1 year low of $8.62 and a 1 year high of $26.15. The company has a market cap of $1.29 billion, a P/E ratio of 69.67, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17. The stock’s fifty day moving average price is $16.86 and its 200-day moving average price is $18.29.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.11). Flywire had a return on equity of 2.49% and a net margin of 4.23%. The firm had revenue of $112.80 million during the quarter, compared to analysts’ expectations of $118.85 million. As a group, analysts expect that Flywire Co. will post 0.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft downgraded Flywire from a “buy” rating to a “hold” rating and dropped their target price for the stock from $26.00 to $16.00 in a report on Wednesday, February 26th. UBS Group cut shares of Flywire from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $25.00 to $15.00 in a research note on Wednesday, February 26th. Raymond James lowered shares of Flywire from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from $29.00 to $17.00 in a research note on Wednesday, February 26th. Wells Fargo & Company dropped their target price on shares of Flywire from $20.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Finally, Stephens downgraded shares of Flywire from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $26.00 to $15.00 in a research report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $19.23.

Flywire 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.