Price T Rowe Associates Inc. MD Sells 159,317 Shares of Flywire Co. (NASDAQ:FLYW)

Price T Rowe Associates Inc. MD decreased its stake in shares of Flywire Co. (NASDAQ:FLYW - Free Report) by 65.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,400 shares of the company's stock after selling 159,317 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.07% of Flywire worth $1,720,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in FLYW. Global Retirement Partners LLC purchased a new stake in shares of Flywire during the fourth quarter worth about $30,000. Arcadia Investment Management Corp MI acquired a new position in shares of Flywire during the 4th quarter valued at about $48,000. KBC Group NV increased its position in shares of Flywire by 64.0% during the fourth quarter. KBC Group NV now owns 4,899 shares of the company's stock valued at $101,000 after acquiring an additional 1,911 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in Flywire during the fourth quarter worth about $104,000. Finally, World Investment Advisors LLC acquired a new stake in shares of Flywire during the third quarter worth about $209,000. 95.90% of the stock is owned by hedge funds and other institutional investors.

Flywire Stock Down 1.6%

Shares of FLYW traded down $0.18 during mid-day trading on Tuesday, hitting $11.11. The company had a trading volume of 1,436,324 shares, compared to its average volume of 1,733,353. Flywire Co. has a 1-year low of $8.20 and a 1-year high of $23.40. The business's 50-day simple moving average is $9.58 and its 200-day simple moving average is $16.07. The stock has a market cap of $1.37 billion, a PE ratio of 74.07, a P/E/G ratio of 1.41 and a beta of 1.22.

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

Analysts Set New Price Targets

Several equities analysts have commented on FLYW shares. Deutsche Bank Aktiengesellschaft lowered shares of Flywire from a "buy" rating to a "hold" rating and dropped their price target for the company from $26.00 to $16.00 in a research note on Wednesday, February 26th. Stephens downgraded Flywire from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $26.00 to $15.00 in a research note on Wednesday, February 26th. Royal Bank of Canada decreased their price target on Flywire from $20.00 to $17.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. BTIG Research cut Flywire from a "buy" rating to a "neutral" rating in a research report on Wednesday, February 26th. Finally, Wolfe Research reaffirmed a "peer perform" rating on shares of Flywire in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Flywire currently has a consensus rating of "Hold" and an average target price of $15.62.

Insider Activity at Flywire

In other news, General Counsel Peter Butterfield sold 5,523 shares of the firm's stock in a transaction on Monday, March 10th. The shares were 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gretchen Howard bought 8,889 shares of the business's stock in a transaction on Thursday, February 27th. The shares were purchased at an average cost of $10.94 per share, with a total value of $97,245.66. Following the transaction, the director now owns 30,770 shares in the company, valued at approximately $336,623.80. The trade was a 40.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 3.90% of the company's stock.

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.