Raymond James & Associates Sells 4,759 Shares of Flywire Co. (NASDAQ:FLYW)

Raymond James & Associates lowered its stake in shares of Flywire Co. (NASDAQ:FLYW) by 0.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 611,416 shares of the company’s stock after selling 4,759 shares during the period. Raymond James & Associates owned approximately 0.49% of Flywire worth $10,021,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. William Blair Investment Management LLC raised its stake in shares of Flywire by 125.1% in the 2nd quarter. William Blair Investment Management LLC now owns 11,731,790 shares of the company’s stock valued at $192,284,000 after purchasing an additional 6,519,598 shares during the period. Primecap Management Co. CA grew its holdings in shares of Flywire by 253.3% during the second quarter. Primecap Management Co. CA now owns 1,962,633 shares of the company’s stock worth $32,168,000 after buying an additional 1,407,180 shares in the last quarter. Jennison Associates LLC raised its position in Flywire by 129.7% in the 1st quarter. Jennison Associates LLC now owns 1,860,951 shares of the company’s stock valued at $46,170,000 after buying an additional 1,050,924 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Flywire in the 2nd quarter valued at approximately $12,642,000. Finally, Blair William & Co. IL boosted its position in Flywire by 33.4% during the 2nd quarter. Blair William & Co. IL now owns 1,810,719 shares of the company’s stock worth $29,678,000 after acquiring an additional 453,183 shares during the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Michael Massaro sold 8,629 shares of the company’s stock in a transaction 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 owns 1,739,351 shares of the company’s stock, valued at approximately $31,377,892.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Flywire news, CTO David R. King sold 3,353 shares of the 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 $60,488.12. Following the completion of the sale, the chief technology officer now owns 620,184 shares in the company, valued at approximately $11,188,119.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael Massaro sold 8,629 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,966 shares of company stock worth $480,143. 3.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FLYW. Citigroup cut their price objective on shares of Flywire from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. B. Riley restated a “buy” rating and issued a $30.00 price objective on shares of Flywire in a report on Wednesday, October 2nd. Wells Fargo & Company lowered Flywire from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $20.00 to $18.00 in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft decreased their price target on Flywire from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, BTIG Research lowered their price objective on shares of Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Flywire currently has an average rating of “Moderate Buy” and an average target price of $26.07.

Flywire Trading Up 2.0 %

FLYW opened at $17.52 on Wednesday. The company has a 50 day moving average of $17.08 and a 200 day moving average of $17.58. Flywire Co. has a 12 month low of $15.19 and a 12 month high of $31.54. The company has a market cap of $2.19 billion, a PE ratio of -250.29, a price-to-earnings-growth ratio of 7.46 and a beta of 0.97.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.01). Flywire had a negative net margin of 1.85% and a negative return on equity of 1.03%. The company had revenue of $103.68 million for the quarter, compared to the consensus estimate of $100.30 million. During the same quarter in the prior year, the company earned ($0.15) earnings per share. The company’s quarterly revenue was up 22.2% on a year-over-year basis. Research analysts forecast that Flywire Co. will post 0.05 earnings per share for the current fiscal year.

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.