Flywire Co. (NASDAQ:FLYW) Stake Lowered by Handelsinvest Investeringsforvaltning

Handelsinvest Investeringsforvaltning reduced its stake in shares of Flywire Co. (NASDAQ:FLYW) by 34.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,008 shares of the company’s stock after selling 2,600 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Flywire were worth $124,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Flywire by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 10,761,286 shares of the company’s stock valued at $249,124,000 after acquiring an additional 243,523 shares in the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of Flywire by 24.8% during the 4th quarter. Westfield Capital Management Co. LP now owns 4,386,731 shares of the company’s stock valued at $101,553,000 after acquiring an additional 872,619 shares in the last quarter. Eventide Asset Management LLC grew its holdings in shares of Flywire by 3.2% during the 4th quarter. Eventide Asset Management LLC now owns 4,203,264 shares of the company’s stock valued at $97,306,000 after acquiring an additional 131,996 shares in the last quarter. Capital International Investors grew its holdings in shares of Flywire by 21.8% during the 4th quarter. Capital International Investors now owns 2,713,564 shares of the company’s stock valued at $62,819,000 after acquiring an additional 485,654 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Flywire by 22.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,801,382 shares of the company’s stock valued at $57,446,000 after acquiring an additional 330,779 shares in the last quarter. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. BTIG Research decreased their price objective on shares of Flywire from $34.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Wedbush reiterated a “neutral” rating and issued a $18.00 price objective on shares of Flywire in a report on Thursday, May 23rd. 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 report on Wednesday, May 8th. 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 report on Wednesday, May 8th. Finally, Wells Fargo & Company decreased their price objective on shares of Flywire from $35.00 to $30.00 and set an “overweight” rating for the company in a report on Monday, May 6th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.86.

Flywire Stock Up 0.3 %

Shares of FLYW opened at $15.97 on Thursday. The company has a 50-day simple moving average of $17.44 and a 200-day simple moving average of $21.12. Flywire Co. has a 52 week low of $15.19 and a 52 week high of $35.80.

Flywire (NASDAQ:FLYW) last announced 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 company had revenue of $114.10 million for 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 quarterly revenue was up 20.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.03) EPS. On average, research analysts anticipate that Flywire Co. will post 0.01 earnings per share for the current fiscal year.

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.