Massachusetts Financial Services Co. MA Sells 3,455 Shares of Flywire Co. (NASDAQ:FLYW)

Massachusetts Financial Services Co. MA trimmed its stake in shares of Flywire Co. (NASDAQ:FLYW) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 426,869 shares of the company’s stock after selling 3,455 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.34% of Flywire worth $6,996,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Headlands Technologies LLC acquired a new stake in Flywire in the 1st quarter valued at $46,000. Quest Partners LLC acquired a new stake in shares of Flywire in the 4th quarter valued at $52,000. Daiwa Securities Group Inc. bought a new stake in shares of Flywire in the 2nd quarter worth about $64,000. Advisors Asset Management Inc. increased its position in shares of Flywire by 45.6% during 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 in the last quarter. Finally, Assetmark Inc. lifted its holdings in Flywire by 16.9% during the 4th quarter. Assetmark Inc. now owns 5,061 shares of the company’s stock valued at $117,000 after purchasing an additional 733 shares during the last quarter. 95.90% of the stock is currently owned by institutional investors.

Flywire Stock Performance

NASDAQ FLYW opened at $16.56 on Friday. Flywire Co. has a 52-week low of $15.19 and a 52-week high of $32.84. The business has a 50 day simple moving average of $17.80 and a 200 day simple moving average of $19.17. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of -150.55, a PEG ratio of 5.83 and a beta of 0.98.

Flywire (NASDAQ:FLYW) last announced its earnings results 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 analyst estimates of $100.30 million. Flywire had a negative return on equity of 1.03% and a negative net margin of 1.85%. Flywire’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.15) earnings per share. On average, analysts predict that Flywire Co. will post 0.06 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Flywire from $25.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Wells Fargo & Company cut their price objective on Flywire from $25.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. BTIG Research decreased their target price on Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Royal Bank of Canada cut their price target on Flywire from $34.00 to $25.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of Flywire from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Flywire currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.92.

Insider Buying and Selling at Flywire

In other news, COO Rob Orgel sold 3,824 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $17.31, for a total transaction of $66,193.44. Following the completion of the transaction, the chief operating officer now directly owns 473,648 shares of the company’s stock, valued at approximately $8,198,846.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Rob Orgel sold 3,824 shares of Flywire stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $17.31, for a total value of $66,193.44. Following the sale, the chief operating officer now owns 473,648 shares of the company’s stock, valued at $8,198,846.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO David R. King sold 3,504 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $17.31, for a total value of $60,654.24. Following the transaction, the chief technology officer now directly owns 616,680 shares in the company, valued at approximately $10,674,730.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,966 shares of company stock worth $480,143. Corporate insiders own 3.90% of the company’s stock.

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.