Ameriprise Financial Inc. Has $3.47 Million Holdings in Flywire Co. (NASDAQ:FLYW)

Ameriprise Financial Inc. lowered its holdings in Flywire Co. (NASDAQ:FLYW - Free Report) by 80.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 168,043 shares of the company's stock after selling 680,583 shares during the period. Ameriprise Financial Inc. owned 0.14% of Flywire worth $3,465,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in FLYW. Raymond James Financial Inc. purchased a new stake in shares of Flywire in the fourth quarter valued at $35,579,000. Voss Capital LP acquired a new position in shares of Flywire in the 4th quarter valued at approximately $30,621,000. Teacher Retirement System of Texas bought a new stake in shares of Flywire in the 4th quarter valued at approximately $24,363,000. Jennison Associates LLC grew its stake in Flywire by 53.0% during the 4th quarter. Jennison Associates LLC now owns 3,406,312 shares of the company's stock worth $70,238,000 after buying an additional 1,179,562 shares during the last quarter. Finally, Wasatch Advisors LP lifted its holdings in shares of Flywire by 62.1% in the fourth quarter. Wasatch Advisors LP now owns 2,741,644 shares of the company's stock valued at $56,533,000 after buying an additional 1,049,888 shares during the period. Hedge funds and other institutional investors own 95.90% of the company's stock.

Flywire Trading Up 4.4%

FLYW traded up $0.46 during midday trading on Friday, reaching $10.80. The company's stock had a trading volume of 2,158,412 shares, compared to its average volume of 1,788,286. The stock has a market cap of $1.31 billion, a P/E ratio of 72.00, a PEG ratio of 1.41 and a beta of 1.22. The company has a fifty day simple moving average of $9.84 and a 200 day simple moving average of $15.27. Flywire Co. has a twelve month low of $8.20 and a twelve month high of $23.40.

Flywire (NASDAQ:FLYW - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.02. The firm had revenue of $128.70 million for the quarter, compared to analyst estimates of $124.18 million. Flywire had a return on equity of 2.49% and a net margin of 4.23%. The company's revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.05) EPS. Sell-side analysts expect that Flywire Co. will post 0.14 earnings per share for the current year.

Insider Buying and Selling at Flywire

In other news, General Counsel Peter Butterfield sold 5,523 shares of Flywire stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $10.08, for a total transaction of $55,671.84. Following the sale, the general counsel now owns 247,561 shares of the company's stock, valued at approximately $2,495,414.88. This trade represents a 2.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on FLYW shares. Deutsche Bank Aktiengesellschaft downgraded Flywire from a "buy" rating to a "hold" rating and reduced their target price for the company from $26.00 to $16.00 in a report on Wednesday, February 26th. Stephens downgraded Flywire from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $26.00 to $15.00 in a research note on Wednesday, February 26th. BTIG Research downgraded Flywire from a "buy" rating to a "neutral" rating in a research note on Wednesday, February 26th. Raymond James downgraded Flywire from a "strong-buy" rating to an "outperform" rating and reduced their price objective for the stock from $29.00 to $17.00 in a research note on Wednesday, February 26th. Finally, UBS Group downgraded Flywire from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $25.00 to $15.00 in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $15.42.

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.