Massmutual Trust Co. FSB ADV Reduces Position in Flywire Co. (NASDAQ:FLYW)

Massmutual Trust Co. FSB ADV cut its stake in shares of Flywire Co. (NASDAQ:FLYW) by 89.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,574 shares of the company’s stock after selling 65,905 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Flywire were worth $188,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in FLYW. Charles Schwab Investment Management Inc. boosted its holdings in Flywire by 41.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 791,253 shares of the company’s stock valued at $25,233,000 after purchasing an additional 232,810 shares during the last quarter. Deutsche Bank AG boosted its holdings in Flywire by 11.3% in the third quarter. Deutsche Bank AG now owns 51,305 shares of the company’s stock valued at $1,636,000 after purchasing an additional 5,211 shares during the last quarter. Rhumbline Advisers boosted its holdings in Flywire by 8.9% in the third quarter. Rhumbline Advisers now owns 133,539 shares of the company’s stock valued at $4,259,000 after purchasing an additional 10,948 shares during the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in Flywire in the third quarter valued at $224,000. Finally, Envestnet Asset Management Inc. raised its position in shares of Flywire by 31.8% in the third quarter. Envestnet Asset Management Inc. now owns 225,196 shares of the company’s stock worth $7,182,000 after acquiring an additional 54,372 shares during the period. 95.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Michael Massaro sold 13,043 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $24.07, for a total value of $313,945.01. Following the completion of the sale, the chief executive officer now owns 1,655,673 shares of the company’s stock, valued at approximately $39,852,049.11. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.90% of the company’s stock.

Flywire Trading Up 4.5 %

FLYW stock opened at $16.08 on Friday. Flywire Co. has a 12 month low of $15.19 and a 12 month high of $35.80. The firm has a 50-day moving average of $18.45 and a two-hundred day moving average of $21.59.

Flywire (NASDAQ:FLYW) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The business had revenue of $114.10 million during the quarter, compared to analyst estimates of $107.81 million. Flywire had a negative net margin of 2.63% and a negative return on equity of 1.56%. The firm’s revenue was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.03) EPS. Sell-side analysts forecast that Flywire Co. will post 0.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Citigroup decreased their price objective on shares of Flywire from $36.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Truist Financial upped their price objective on shares of Flywire from $30.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. UBS Group decreased their price objective on shares of Flywire from $34.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Wedbush restated a “neutral” rating and set a $18.00 price target on shares of Flywire in a research report on Thursday, May 23rd. Finally, The Goldman Sachs Group reduced their price target on shares of Flywire from $32.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $30.40.

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.