William Blair Investment Management LLC Cuts Stock Holdings in Flywire Co. (NASDAQ:FLYW)

William Blair Investment Management LLC decreased its holdings in shares of Flywire Co. (NASDAQ:FLYW) by 10.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 10,332,671 shares of the company’s stock after selling 1,243,193 shares during the period. William Blair Investment Management LLC owned 0.08% of Flywire worth $213,060,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new position in Flywire during the 4th quarter valued at about $30,000. Arcadia Investment Management Corp MI purchased a new position in shares of Flywire in the 4th quarter worth approximately $48,000. Advisors Asset Management Inc. grew its position in shares of Flywire by 15.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock worth $66,000 after buying an additional 539 shares during the last quarter. KBC Group NV grew its position in shares of Flywire by 64.0% in the 4th quarter. KBC Group NV now owns 4,899 shares of the company’s stock worth $101,000 after buying an additional 1,911 shares during the last quarter. Finally, Venturi Wealth Management LLC purchased a new position in shares of Flywire in the 4th quarter worth approximately $104,000. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on FLYW shares. Raymond James downgraded shares of Flywire from a “strong-buy” rating to an “outperform” rating and cut their price objective for the stock from $29.00 to $17.00 in a research report on Wednesday, February 26th. Wells Fargo & Company cut their price objective on shares of Flywire from $20.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Seaport Res Ptn downgraded shares of Flywire from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Citigroup dropped their target price on shares of Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, Stephens downgraded shares of Flywire from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $26.00 to $15.00 in a research report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $19.23.

Flywire Trading Up 4.4 %

Shares of NASDAQ FLYW opened at $10.54 on Monday. Flywire Co. has a 12 month low of $8.62 and a 12 month high of $26.15. The company has a 50 day simple moving average of $17.04 and a two-hundred day simple moving average of $18.34. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 70.27, a PEG ratio of 1.41 and a beta of 1.17.

Flywire (NASDAQ:FLYW) last posted 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). Flywire had a net margin of 4.23% and a return on equity of 2.49%. The firm had revenue of $112.80 million during the quarter, compared to analyst estimates of $118.85 million. Analysts forecast that Flywire Co. will post 0.14 EPS for the current year.

Insider Activity at Flywire

In related news, General Counsel Peter Butterfield sold 5,523 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $10.08, for a total value of $55,671.84. Following the completion of the sale, the general counsel now owns 247,561 shares of the company’s stock, valued at approximately $2,495,414.88. The trade was a 2.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gretchen Howard purchased 8,889 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average cost of $10.94 per share, with a total value of $97,245.66. Following the acquisition, the director now owns 30,770 shares in the company, valued at $336,623.80. This represents a 40.62 % increase in their position. The disclosure for this purchase can be found here. Company 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.