Truist Financial Corp Sells 1,180 Shares of Flywire Co. (NASDAQ:FLYW)

Truist Financial Corp decreased its holdings in Flywire Co. (NASDAQ:FLYW) by 6.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,123 shares of the company’s stock after selling 1,180 shares during the period. Truist Financial Corp’s holdings in Flywire were worth $353,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in FLYW. FMR LLC grew its position in shares of Flywire by 3.6% in the third quarter. FMR LLC now owns 9,408,098 shares of the company’s stock valued at $154,199,000 after purchasing an additional 326,120 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in Flywire by 19.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 6,226,912 shares of the company’s stock valued at $102,059,000 after purchasing an additional 1,006,516 shares during the period. Jennison Associates LLC grew its holdings in Flywire by 53.0% in the 4th quarter. Jennison Associates LLC now owns 3,406,312 shares of the company’s stock valued at $70,238,000 after buying an additional 1,179,562 shares in the last quarter. State Street Corp increased its position in Flywire by 5.2% during the 3rd quarter. State Street Corp now owns 2,930,906 shares of the company’s stock worth $48,038,000 after buying an additional 145,894 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Flywire by 0.6% during the third quarter. Geode Capital Management LLC now owns 2,799,486 shares of the company’s stock worth $45,892,000 after buying an additional 17,062 shares in the last quarter. 95.90% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Gretchen Howard purchased 8,889 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was bought at an average price of $10.94 per share, for a total transaction of $97,245.66. Following the purchase, the director now directly owns 30,770 shares in the company, valued at approximately $336,623.80. This trade represents a 40.62 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.90% of the company’s stock.

Flywire Price Performance

Shares of NASDAQ FLYW opened at $10.64 on Wednesday. Flywire Co. has a 1 year low of $8.62 and a 1 year high of $27.40. The stock has a market capitalization of $1.32 billion, a P/E ratio of 70.93, a P/E/G ratio of 1.41 and a beta of 1.08. The company has a 50-day moving average price of $18.66 and a 200-day moving average price of $18.74.

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). The company had revenue of $112.80 million for the quarter, compared to analysts’ expectations of $118.85 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. As a group, equities research analysts anticipate that Flywire Co. will post 0.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. BTIG Research downgraded shares of Flywire from a “buy” rating to a “neutral” rating in a report on Wednesday, February 26th. The Goldman Sachs Group cut Flywire from a “buy” rating to a “neutral” rating and cut their price target for the company from $26.00 to $15.00 in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft downgraded Flywire from a “buy” rating to a “hold” rating and reduced their price target for the stock from $26.00 to $16.00 in a research report on Wednesday, February 26th. Raymond James cut Flywire from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from $29.00 to $17.00 in a report on Wednesday, February 26th. Finally, Seaport Res Ptn lowered Flywire from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Flywire currently has a consensus rating of “Hold” and a consensus target price 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.