Mirae Asset Global Investments Co. Ltd. Sells 4,951 Shares of Flywire Co. (NASDAQ:FLYW)

Mirae Asset Global Investments Co. Ltd. cut its position in shares of Flywire Co. (NASDAQ:FLYW) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 166,016 shares of the company’s stock after selling 4,951 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Flywire were worth $3,843,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of FLYW. Envestnet Asset Management Inc. increased its holdings in Flywire by 52.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 9,655 shares of the company’s stock valued at $295,000 after buying an additional 3,312 shares during the period. PNC Financial Services Group Inc. increased its stake in Flywire by 27.4% in the first quarter. PNC Financial Services Group Inc. now owns 10,142 shares of the company’s stock valued at $309,000 after acquiring an additional 2,182 shares during the period. MetLife Investment Management LLC increased its stake in Flywire by 55.4% in the first quarter. MetLife Investment Management LLC now owns 34,947 shares of the company’s stock valued at $1,069,000 after acquiring an additional 12,461 shares during the period. Vanguard Group Inc. raised its position in Flywire by 0.8% in the first quarter. Vanguard Group Inc. now owns 5,038,684 shares of the company’s stock worth $154,082,000 after purchasing an additional 37,622 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in Flywire during the first quarter worth about $3,147,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Flywire

In related news, CEO Michael Massaro sold 13,043 shares of Flywire stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $24.07, for a total value of $313,945.01. Following the completion of the sale, the chief executive officer now directly owns 1,655,673 shares in the company, valued at $39,852,049.11. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CTO David R. King sold 9,366 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $27.30, for a total value of $255,691.80. Following the transaction, the chief technology officer now owns 621,568 shares of the company’s stock, valued at approximately $16,968,806.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael Massaro sold 13,043 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $24.07, for a total value of $313,945.01. Following the completion of the transaction, the chief executive officer now owns 1,655,673 shares in the company, valued at $39,852,049.11. 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 over the last 90 days. Insiders own 5.00% of the company’s stock.

Flywire Price Performance

FLYW opened at $20.79 on Wednesday. The stock has a market capitalization of $2.55 billion, a P/E ratio of -230.97, a price-to-earnings-growth ratio of 8.21 and a beta of 1.02. The company’s 50 day simple moving average is $24.23 and its 200-day simple moving average is $24.11. Flywire Co. has a one year low of $18.65 and a one year high of $35.80.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.09. The firm had revenue of $100.55 million for the quarter, compared to the consensus estimate of $88.52 million. Flywire had a negative return on equity of 1.35% and a negative net margin of 2.13%. The business’s revenue for the quarter was up 37.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.01) EPS. As a group, analysts anticipate that Flywire Co. will post 0.05 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FLYW. UBS Group increased their target price on Flywire from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft began coverage on Flywire in a report on Tuesday, February 6th. They set a “buy” rating and a $27.00 price objective for the company. Citigroup lowered their target price on shares of Flywire from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday, April 4th. JPMorgan Chase & Co. lifted their price target on shares of Flywire from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Finally, Royal Bank of Canada boosted their price target on shares of Flywire from $36.00 to $41.00 and gave the company an “outperform” rating in a research report on Wednesday, February 28th. 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.27.

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.