Next Century Growth Investors LLC Reduces Stock Position in Flywire Co. (NASDAQ:FLYW)

Next Century Growth Investors LLC trimmed its stake in Flywire Co. (NASDAQ:FLYW - Free Report) by 44.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 664,779 shares of the company's stock after selling 541,253 shares during the period. Next Century Growth Investors LLC owned about 0.53% of Flywire worth $13,708,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Arizona State Retirement System boosted its stake in shares of Flywire by 1.6% in the 4th quarter. Arizona State Retirement System now owns 32,215 shares of the company's stock valued at $664,000 after purchasing an additional 513 shares during the last quarter. Captrust Financial Advisors grew its position in shares of Flywire by 12.3% during the 3rd quarter. Captrust Financial Advisors now owns 13,377 shares of the company's stock worth $219,000 after buying an additional 1,463 shares during the period. Global Retirement Partners LLC acquired a new position in shares of Flywire during the 4th quarter valued at $30,000. Harbor Capital Advisors Inc. grew its stake in Flywire by 0.7% in the fourth quarter. Harbor Capital Advisors Inc. now owns 224,775 shares of the company's stock valued at $4,635,000 after acquiring an additional 1,531 shares during the period. Finally, Alliancebernstein L.P. increased its stake in Flywire by 1.3% during the 4th quarter. Alliancebernstein L.P. now owns 145,705 shares of the company's stock valued at $3,004,000 after purchasing an additional 1,839 shares in the last quarter. 95.90% of the stock is owned by institutional investors and hedge funds.

Flywire Stock Up 0.5 %

Shares of FLYW stock traded up $0.05 during trading hours on Thursday, hitting $8.88. 1,522,036 shares of the company's stock were exchanged, compared to its average volume of 1,683,873. The firm has a market cap of $1.10 billion, a P/E ratio of 58.97, a P/E/G ratio of 1.41 and a beta of 1.22. The firm has a 50 day moving average of $12.05 and a two-hundred day moving average of $16.96. Flywire Co. has a fifty-two week low of $8.20 and a fifty-two week high of $23.40.

Flywire (NASDAQ:FLYW - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $112.80 million for the quarter, compared to analysts' expectations of $118.85 million. On average, equities analysts forecast that Flywire Co. will post 0.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on FLYW shares. Wells Fargo & Company reduced their target price on shares of Flywire from $20.00 to $16.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 26th. Royal Bank of Canada cut their price target on shares of Flywire from $25.00 to $20.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft cut 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 research note on Wednesday, February 26th. Morgan Stanley reduced their price objective on shares of Flywire from $21.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. reiterated an "underweight" rating and set a $9.00 target price (down previously from $16.00) on shares of Flywire in a report on Monday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Flywire has an average rating of "Hold" and an average target price of $17.00.

Insider Activity at Flywire

In related news, Director Gretchen Howard purchased 8,889 shares of the business's stock in a transaction dated Thursday, February 27th. The stock was acquired at an average price of $10.94 per share, for a total transaction of $97,245.66. Following the completion of the purchase, the director now directly owns 30,770 shares of the company's stock, valued at $336,623.80. This trade represents a 40.62 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Peter Butterfield sold 5,523 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $10.08, for a total transaction of $55,671.84. Following the transaction, the general counsel now owns 247,561 shares in the company, valued at approximately $2,495,414.88. This trade represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.90% 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.