Edmond DE Rothschild Holding S.A. Sells 2,740 Shares of Flywire Co. (NASDAQ:FLYW)

Edmond DE Rothschild Holding S.A. lessened its stake in Flywire Co. (NASDAQ:FLYW) by 14.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,630 shares of the company’s stock after selling 2,740 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Flywire were worth $322,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in FLYW. Rock Creek Group LP bought a new stake in Flywire in the fourth quarter valued at approximately $1,050,000. Palogic Value Management L.P. boosted its stake in shares of Flywire by 5.6% in the 4th quarter. Palogic Value Management L.P. now owns 190,000 shares of the company’s stock valued at $3,918,000 after purchasing an additional 10,000 shares during the last quarter. Pictet Asset Management Holding SA increased its position in shares of Flywire by 25.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 16,113 shares of the company’s stock worth $332,000 after buying an additional 3,273 shares during the period. Norges Bank bought a new position in Flywire during the fourth quarter worth $7,541,000. Finally, JPMorgan Chase & Co. lifted its holdings in Flywire by 94.6% in the fourth quarter. JPMorgan Chase & Co. now owns 458,213 shares of the company’s stock valued at $9,448,000 after buying an additional 222,804 shares during the period. Institutional investors and hedge funds own 95.90% of the company’s stock.

Flywire Stock Up 2.8 %

Shares of Flywire stock opened at $9.83 on Thursday. Flywire Co. has a 52 week low of $8.62 and a 52 week high of $24.33. The business has a 50 day moving average price of $14.62 and a 200-day moving average price of $17.64. The company has a market cap of $1.21 billion, a PE ratio of 65.53, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17.

Flywire (NASDAQ:FLYW) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). Flywire had a net margin of 4.23% and a return on equity of 2.49%. The company had revenue of $112.80 million during the quarter, compared to analysts’ expectations of $118.85 million. As a group, research analysts anticipate that Flywire Co. will post 0.14 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FLYW. Deutsche Bank Aktiengesellschaft lowered Flywire from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $26.00 to $16.00 in a research report on Wednesday, February 26th. Royal Bank of Canada lowered their target price on Flywire from $25.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Citigroup dropped their price target on Flywire from $26.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. The Goldman Sachs Group reduced their price objective on shares of Flywire from $15.00 to $11.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Stephens downgraded shares of Flywire from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $26.00 to $15.00 in a research report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $17.92.

Insider Activity at Flywire

In other Flywire news, Director Gretchen Howard purchased 8,889 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average cost of $10.94 per share, with a total value of $97,245.66. Following the completion of the transaction, the director now owns 30,770 shares of the company’s stock, valued at $336,623.80. The trade was a 40.62 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Peter Butterfield sold 5,523 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $10.08, for a total value of $55,671.84. Following the completion of the transaction, 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 owned by insiders.

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.