Primecap Management Co. CA Sells 4,499 Shares of Flywire Co. (NASDAQ:FLYW)

Primecap Management Co. CA lowered its position in Flywire Co. (NASDAQ:FLYW) by 0.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,959,533 shares of the company’s stock after selling 4,499 shares during the quarter. Primecap Management Co. CA owned about 1.57% of Flywire worth $40,406,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Global Retirement Partners LLC purchased a new stake in shares of Flywire in the fourth quarter valued at $30,000. Arcadia Investment Management Corp MI purchased a new stake in shares of Flywire in the fourth quarter valued at $48,000. Advisors Asset Management Inc. raised its stake in shares of Flywire by 15.4% in the third quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock valued at $66,000 after acquiring an additional 539 shares during the period. KBC Group NV raised its stake in shares of Flywire by 64.0% in 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 period. Finally, Venturi Wealth Management LLC purchased a new stake in shares of Flywire in the fourth quarter valued at $104,000. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FLYW. Wells Fargo & Company reduced their target price on shares of Flywire from $20.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Morgan Stanley reduced their price target on shares of Flywire from $21.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. The Goldman Sachs Group downgraded shares of Flywire from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $26.00 to $15.00 in a research note on Wednesday, February 26th. Royal Bank of Canada reduced their price target on shares of Flywire from $25.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Finally, BTIG Research downgraded shares of Flywire from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Flywire currently has an average rating of “Hold” and a consensus target price of $19.23.

Insider Buying and Selling

In related news, Director Gretchen Howard bought 8,889 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were bought at an average price 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. This trade represents a 40.62 % increase in their ownership of the stock. The acquisition was disclosed in a legal 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 that occurred on Monday, March 10th. The stock was sold at an average price of $10.08, for a total transaction of $55,671.84. Following the sale, the general counsel now directly owns 247,561 shares in the company, valued at approximately $2,495,414.88. This represents a 2.18 % decrease in their position. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by company insiders.

Flywire Stock Performance

NASDAQ:FLYW opened at $10.39 on Wednesday. Flywire Co. has a one year low of $8.62 and a one year high of $25.95. The firm has a market cap of $1.28 billion, a P/E ratio of 69.27, a P/E/G ratio of 1.41 and a beta of 1.17. The firm has a 50-day simple moving average of $16.68 and a 200-day simple moving average of $18.23.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The firm had revenue of $112.80 million for the quarter, compared to the consensus estimate of $118.85 million. Flywire had a return on equity of 2.49% and a net margin of 4.23%. On average, research analysts predict that Flywire Co. will post 0.14 EPS for the current fiscal year.

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.