Harbor Capital Advisors Inc. Has $379,000 Position in Flywire Co. (NASDAQ:FLYW)

Harbor Capital Advisors Inc. trimmed its holdings in Flywire Co. (NASDAQ:FLYW - Free Report) by 82.3% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 39,877 shares of the company's stock after selling 184,898 shares during the period. Harbor Capital Advisors Inc.'s holdings in Flywire were worth $379,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new position in Flywire in the fourth quarter worth approximately $30,000. Arcadia Investment Management Corp MI purchased a new position in Flywire in the fourth quarter worth approximately $48,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Flywire in the fourth quarter worth approximately $77,000. Venturi Wealth Management LLC purchased a new position in shares of Flywire during the fourth quarter worth $104,000. Finally, Cetera Investment Advisers purchased a new position in shares of Flywire during the fourth quarter worth $225,000. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FLYW. Wolfe Research reiterated a "peer perform" rating on shares of Flywire in a report on Wednesday, April 23rd. Wells Fargo & Company cut their price target on Flywire from $16.00 to $13.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. Truist Financial began coverage on Flywire in a report on Monday, June 2nd. They issued a "buy" rating and a $12.00 price target for the company. Stephens cut shares of Flywire from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $26.00 to $15.00 in a research report on Wednesday, February 26th. Finally, Citigroup cut their target price on shares of Flywire from $26.00 to $13.00 and set a "buy" rating on the stock in a report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Flywire currently has a consensus rating of "Hold" and an average target price of $15.15.

Flywire Stock Down 0.8%

Flywire stock traded down $0.09 during mid-day trading on Friday, hitting $10.70. The company's stock had a trading volume of 2,590,533 shares, compared to its average volume of 1,851,892. The stock has a market capitalization of $1.30 billion, a P/E ratio of 71.33, a P/E/G ratio of 1.41 and a beta of 1.27. Flywire Co. has a twelve month low of $8.20 and a twelve month high of $23.40. The stock's fifty day moving average price is $10.04 and its two-hundred day moving average price is $14.48.

Flywire (NASDAQ:FLYW - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $124.18 million. During the same period in the previous year, the company posted ($0.05) EPS. The company's quarterly revenue was up 17.0% compared to the same quarter last year. Equities analysts expect that Flywire Co. will post 0.14 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Edwin J. Santos sold 5,000 shares of the company's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $10.50, for a total value of $52,500.00. Following the completion of the sale, the director now directly owns 16,990 shares in the company, valued at approximately $178,395. This represents a 22.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 4.40% of the stock is currently owned by corporate insiders.

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.