TimesSquare Capital Management LLC Reduces Holdings in Flywire Co. (NASDAQ:FLYW)

TimesSquare Capital Management LLC trimmed its position in Flywire Co. (NASDAQ:FLYW - Free Report) by 48.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 422,035 shares of the company's stock after selling 401,845 shares during the period. TimesSquare Capital Management LLC owned about 0.35% of Flywire worth $9,770,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James & Associates grew its holdings in shares of Flywire by 118.6% in the third quarter. Raymond James & Associates now owns 235,540 shares of the company's stock valued at $7,511,000 after purchasing an additional 127,810 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Flywire by 133.2% during the third quarter. Bank of New York Mellon Corp now owns 843,046 shares of the company's stock worth $26,885,000 after purchasing an additional 481,467 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Flywire by 19.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,119 shares of the company's stock valued at $546,000 after acquiring an additional 2,805 shares in the last quarter. Emerald Mutual Fund Advisers Trust raised its holdings in Flywire by 447.6% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 56,115 shares of the company's stock valued at $1,790,000 after acquiring an additional 45,868 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Flywire by 40.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,498,653 shares of the company's stock worth $47,792,000 after purchasing an additional 428,543 shares in the last quarter. Hedge funds and other institutional investors own 95.90% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Oppenheimer assumed coverage on shares of Flywire in a report on Tuesday, January 23rd. They set an "outperform" rating and a $25.00 price objective on the stock. William Blair reissued an "outperform" rating on shares of Flywire in a report on Wednesday. Truist Financial raised their price objective on shares of Flywire from $30.00 to $39.00 and gave the stock a "buy" rating in a report on Wednesday, February 28th. JPMorgan Chase & Co. raised their target price on shares of Flywire from $29.00 to $32.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 28th. Finally, UBS Group lowered their target price on shares of Flywire from $34.00 to $26.00 and set a "buy" rating on the stock in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $31.60.

Flywire Stock Down 0.5 %

FLYW traded down $0.09 during trading on Friday, hitting $17.59. The company's stock had a trading volume of 2,369,283 shares, compared to its average volume of 1,668,059. The firm's 50 day moving average price is $23.15 and its two-hundred day moving average price is $23.10. Flywire Co. has a 12 month low of $15.77 and a 12 month high of $35.80. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of -196.42, a price-to-earnings-growth ratio of 11.18 and a beta of 1.09.

Flywire (NASDAQ:FLYW - Get Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The firm had revenue of $114.10 million during the quarter, compared to the consensus estimate of $107.81 million. Flywire had a negative net margin of 2.13% and a negative return on equity of 1.35%. Flywire's revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.03) EPS. On average, sell-side analysts forecast that Flywire Co. will post 0.03 earnings per share for the current year.

Insider Transactions at Flywire

In related news, General Counsel Peter Butterfield sold 4,730 shares of the business's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $27.30, for a total transaction of $129,129.00. Following the transaction, the general counsel now directly owns 214,678 shares of the company's stock, valued at approximately $5,860,709.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Rob Orgel sold 17,150 shares of Flywire stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $27.30, for a total value of $468,195.00. Following the transaction, the chief operating officer now directly owns 468,285 shares of the company's stock, valued at $12,784,180.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Peter Butterfield sold 4,730 shares of Flywire stock in a transaction on Monday, March 4th. The stock was sold at an average price of $27.30, for a total transaction of $129,129.00. Following the transaction, the general counsel now owns 214,678 shares in the company, valued at approximately $5,860,709.40. The disclosure for this sale can be found here. Insiders have sold a total of 141,800 shares of company stock worth $3,743,582 in the last 90 days. Corporate insiders own 5.00% of the company's stock.

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.