Bank of New York Mellon Corp Decreases Position in Flywire Co. (NASDAQ:FLYW)

Bank of New York Mellon Corp trimmed its holdings in shares of Flywire Co. (NASDAQ:FLYW) by 22.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 981,363 shares of the company’s stock after selling 279,001 shares during the quarter. Bank of New York Mellon Corp owned 0.79% of Flywire worth $20,236,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Y Intercept Hong Kong Ltd raised its position in shares of Flywire by 345.3% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 96,029 shares of the company’s stock worth $1,980,000 after acquiring an additional 74,465 shares in the last quarter. Olympiad Research LP increased its stake in Flywire by 35.5% during the 4th quarter. Olympiad Research LP now owns 17,014 shares of the company’s stock valued at $351,000 after purchasing an additional 4,460 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of Flywire in the fourth quarter valued at about $48,000. Handelsbanken Fonder AB raised its stake in shares of Flywire by 9.9% in the fourth quarter. Handelsbanken Fonder AB now owns 28,900 shares of the company’s stock worth $596,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Global Retirement Partners LLC purchased a new stake in Flywire in the fourth quarter valued at approximately $30,000. 95.90% of the stock is owned by hedge funds and other institutional investors.

Flywire Trading Down 3.8 %

Shares of FLYW opened at $9.87 on Tuesday. The stock has a 50 day moving average of $17.86 and a 200-day moving average of $18.55. Flywire Co. has a 52 week low of $8.62 and a 52 week high of $27.06. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 65.80, a PEG ratio of 1.41 and a beta of 1.17.

Flywire (NASDAQ:FLYW) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.11). Flywire had a return on equity of 2.49% and a net margin of 4.23%. The firm had revenue of $112.80 million for the quarter, compared to the consensus estimate of $118.85 million. On average, sell-side analysts predict that Flywire Co. will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Flywire

In other news, Director Gretchen Howard acquired 8,889 shares of the stock in a transaction on Thursday, February 27th. The shares were purchased at an average cost of $10.94 per share, for a total transaction of $97,245.66. Following the transaction, the director now owns 30,770 shares in the company, valued at approximately $336,623.80. This trade represents a 40.62 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. UBS Group cut shares of Flywire from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $25.00 to $15.00 in a research note on Wednesday, February 26th. BTIG Research lowered shares of Flywire from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 26th. Citigroup decreased their target price on Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Raymond James downgraded shares of Flywire from a “strong-buy” rating to an “outperform” rating and decreased their price target for the stock from $29.00 to $17.00 in a research note on Wednesday, February 26th. Finally, Stephens cut shares of Flywire from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $26.00 to $15.00 in a research note on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Flywire has a consensus rating of “Hold” and an average price target 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.