Eventide Asset Management LLC Reduces Holdings in Flywire Co. (NASDAQ:FLYW)

Eventide Asset Management LLC trimmed its stake in Flywire Co. (NASDAQ:FLYW) by 42.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,767,625 shares of the company’s stock after selling 1,304,806 shares during the period. Eventide Asset Management LLC owned approximately 1.41% of Flywire worth $28,971,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of FLYW. Advisors Asset Management Inc. grew its position in shares of Flywire by 45.6% in the 1st quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company’s stock valued at $76,000 after buying an additional 954 shares during the last quarter. Public Employees Retirement Association of Colorado purchased a new position in Flywire during the 1st quarter worth $358,000. Harbor Capital Advisors Inc. grew its position in Flywire by 139.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 118,908 shares of the company’s stock worth $1,949,000 after purchasing an additional 69,304 shares during the last quarter. Dakota Wealth Management purchased a new position in Flywire during the 2nd quarter worth $199,000. Finally, Gilliland Jeter Wealth Management LLC grew its position in Flywire by 104.3% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 11,801 shares of the company’s stock worth $193,000 after purchasing an additional 6,025 shares during the last quarter. 95.90% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Flywire

In other Flywire news, COO Rob Orgel sold 3,824 shares of Flywire stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $17.31, for a total value of $66,193.44. Following the completion of the transaction, the chief operating officer now owns 473,648 shares of the company’s stock, valued at $8,198,846.88. The trade was a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CTO David R. King sold 3,353 shares of Flywire stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total transaction of $60,488.12. Following the completion of the transaction, the chief technology officer now directly owns 620,184 shares of the company’s stock, valued at $11,188,119.36. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,966 shares of company stock valued at $480,143. Corporate insiders own 3.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FLYW shares. Raymond James lifted their target price on shares of Flywire from $23.00 to $27.00 and gave the company a “strong-buy” rating in a report on Friday, November 8th. Royal Bank of Canada lowered their target price on shares of Flywire from $34.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. B. Riley reiterated a “buy” rating and issued a $30.00 price objective on shares of Flywire in a research note on Wednesday, October 2nd. Wells Fargo & Company cut shares of Flywire from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $20.00 to $18.00 in a research note on Friday, October 11th. Finally, Morgan Stanley raised their price objective on shares of Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating, ten have given 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 an average price target of $24.86.

Flywire Stock Up 3.7 %

FLYW opened at $23.30 on Friday. Flywire Co. has a 52-week low of $15.19 and a 52-week high of $31.54. The company has a 50 day moving average of $18.45 and a two-hundred day moving average of $17.70. The company has a market cap of $2.90 billion, a P/E ratio of 155.33, a P/E/G ratio of 4.49 and a beta of 0.95.

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.