Mitsubishi UFJ Asset Management Co. Ltd. Sells 49,649 Shares of Flywire Co. (NASDAQ:FLYW)

Mitsubishi UFJ Asset Management Co. Ltd. trimmed its position in shares of Flywire Co. (NASDAQ:FLYW) by 53.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 42,497 shares of the company’s stock after selling 49,649 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Flywire were worth $869,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Emerald Advisers LLC lifted its holdings in shares of Flywire by 48.6% during the 4th quarter. Emerald Advisers LLC now owns 430,646 shares of the company’s stock valued at $8,880,000 after purchasing an additional 140,821 shares during the last quarter. Vanguard Group Inc. raised its stake in Flywire by 6.9% in the fourth quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company’s stock valued at $249,238,000 after buying an additional 781,711 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Flywire in the fourth quarter worth about $493,000. Sei Investments Co. grew its stake in shares of Flywire by 38.4% during the fourth quarter. Sei Investments Co. now owns 110,144 shares of the company’s stock worth $2,271,000 after acquiring an additional 30,572 shares during the last quarter. Finally, American Century Companies Inc. acquired a new position in shares of Flywire during the fourth quarter valued at about $632,000. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Insider Buying and Selling at Flywire

In related news, General Counsel Peter Butterfield sold 5,523 shares of Flywire stock in a transaction on Monday, March 10th. The shares were sold at an average price of $10.08, for a total value of $55,671.84. Following the sale, the general counsel now owns 247,561 shares of the company’s stock, valued at approximately $2,495,414.88. This trade represents a 2.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gretchen Howard acquired 8,889 shares of Flywire 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 completion of the transaction, 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 position. The disclosure for this purchase can be found here. 3.90% of the stock is owned by corporate insiders.

Flywire Price Performance

FLYW opened at $9.83 on Thursday. The firm has a fifty day moving average price of $14.62 and a 200 day moving average price of $17.64. Flywire Co. has a 1 year low of $8.62 and a 1 year high of $24.33. The stock has a market cap of $1.21 billion, a P/E ratio of 65.53, a P/E/G ratio of 1.41 and a beta of 1.17.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). Flywire had a return on equity of 2.49% and a net margin of 4.23%. The firm had revenue of $112.80 million during the quarter, compared to analyst estimates of $118.85 million. Equities analysts expect that Flywire Co. will post 0.14 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on FLYW. Deutsche Bank Aktiengesellschaft cut shares of Flywire from a “buy” rating to a “hold” rating and lowered their target price for the stock from $26.00 to $16.00 in a research note on Wednesday, February 26th. The Goldman Sachs Group lowered their price objective on shares of Flywire from $15.00 to $11.00 and set a “neutral” rating for the company in a research note on Wednesday. Raymond James downgraded Flywire from a “strong-buy” rating to an “outperform” rating and cut their target price for the company from $29.00 to $17.00 in a research report on Wednesday, February 26th. Royal Bank of Canada lowered their price target on Flywire from $25.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Finally, Citigroup cut their price objective on Flywire from $26.00 to $13.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $17.92.

Flywire 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.