Flywire Co. (NASDAQ:FLYW) Shares Sold by Bank of America Corp DE

Bank of America Corp DE trimmed its stake in Flywire Co. (NASDAQ:FLYW - Free Report) by 37.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 666,381 shares of the company's stock after selling 393,985 shares during the period. Bank of America Corp DE owned approximately 0.54% of Flywire worth $13,741,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FLYW. BNP Paribas Financial Markets acquired a new position in Flywire in the fourth quarter valued at $378,000. Algert Global LLC purchased a new stake in shares of Flywire in the 4th quarter valued at about $546,000. Emerald Mutual Fund Advisers Trust boosted its position in shares of Flywire by 38.5% in the 4th quarter. Emerald Mutual Fund Advisers Trust now owns 267,195 shares of the company's stock valued at $5,510,000 after purchasing an additional 74,248 shares during the period. Northern Trust Corp boosted its position in shares of Flywire by 10.3% in the 4th quarter. Northern Trust Corp now owns 1,149,254 shares of the company's stock valued at $23,698,000 after purchasing an additional 107,441 shares during the period. Finally, Aquatic Capital Management LLC purchased a new position in Flywire during the 4th quarter worth approximately $923,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, General Counsel Peter Butterfield sold 5,523 shares of the stock in a transaction dated 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 transaction, the general counsel now owns 247,561 shares in the company, valued at $2,495,414.88. This trade represents a 2.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gretchen Howard acquired 8,889 shares of Flywire stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average price of $10.94 per share, with a total value of $97,245.66. Following the purchase, the director now directly owns 30,770 shares of the company's stock, valued at approximately $336,623.80. This trade represents a 40.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.90% of the company's stock.

Flywire Stock Down 2.8%

Shares of NASDAQ:FLYW opened at $11.48 on Thursday. Flywire Co. has a fifty-two week low of $8.20 and a fifty-two week high of $23.40. The firm's 50-day simple moving average is $9.76 and its 200-day simple moving average is $15.79. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 76.53, a PEG ratio of 1.41 and a beta of 1.22.

Flywire (NASDAQ:FLYW - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.03 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.02. Flywire had a net margin of 4.23% and a return on equity of 2.49%. The firm had revenue of $128.70 million during the quarter, compared to the consensus estimate of $124.18 million. During the same quarter last year, the firm earned ($0.05) earnings per share. The firm's revenue was up 17.0% compared to the same quarter last year. On average, research analysts forecast that Flywire Co. will post 0.14 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on FLYW shares. Citigroup reduced their price objective on Flywire from $26.00 to $13.00 and set a "buy" rating for the company in a research note on Monday, March 24th. Stephens cut shares of Flywire from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $26.00 to $15.00 in a report on Wednesday, February 26th. Raymond James cut 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. JPMorgan Chase & Co. reissued an "underweight" rating and set a $9.00 price objective (down from $16.00) on shares of Flywire in a research report on Monday, April 14th. Finally, The Goldman Sachs Group lifted their price objective on shares of Flywire from $10.00 to $12.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $15.62.

Flywire Company 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.

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