Flywire Co. (NASDAQ:FLYW) Shares Sold by Massmutual Trust Co. FSB ADV

Massmutual Trust Co. FSB ADV lowered its holdings in shares of Flywire Co. (NASDAQ:FLYW) by 89.7% in the first quarter, HoldingsChannel.com reports. The fund owned 7,574 shares of the company’s stock after selling 65,905 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Flywire were worth $188,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new position in Flywire during the fourth quarter worth about $52,000. RiverPark Advisors LLC raised its position in shares of Flywire by 22.6% in the fourth quarter. RiverPark Advisors LLC now owns 3,195 shares of the company’s stock valued at $74,000 after buying an additional 589 shares during the last quarter. Assetmark Inc. raised its position in shares of Flywire by 16.9% in the fourth quarter. Assetmark Inc. now owns 5,061 shares of the company’s stock valued at $117,000 after buying an additional 733 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Flywire in the third quarter valued at approximately $224,000. Finally, Handelsinvest Investeringsforvaltning acquired a new position in shares of Flywire in the fourth quarter valued at approximately $176,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on FLYW shares. Morgan Stanley lowered shares of Flywire from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $27.00 to $30.00 in a research report on Friday, March 1st. BTIG Research cut their price objective on shares of Flywire from $34.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. The Goldman Sachs Group dropped their price target on shares of Flywire from $32.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. JPMorgan Chase & Co. upped their price target on shares of Flywire from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Finally, Wedbush reaffirmed a “neutral” rating and set a $18.00 price target on shares of Flywire in a research report on Thursday, May 23rd. Three 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 company. According to MarketBeat, Flywire currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.40.

Insider Buying and Selling at Flywire

In other Flywire news, CEO Michael Massaro sold 13,043 shares of the stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $24.07, for a total transaction of $313,945.01. Following the transaction, the chief executive officer now directly owns 1,655,673 shares in the company, valued at approximately $39,852,049.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.90% of the stock is currently owned by insiders.

Flywire Stock Performance

Shares of FLYW stock opened at $16.08 on Friday. The firm has a fifty day simple moving average of $18.45 and a 200-day simple moving average of $21.59. Flywire Co. has a twelve month low of $15.19 and a twelve month high of $35.80.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, May 7th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.01). Flywire had a negative net margin of 2.63% and a negative return on equity of 1.56%. The firm had revenue of $114.10 million during the quarter, compared to analysts’ expectations of $107.81 million. During the same quarter last year, the company posted ($0.03) earnings per share. Flywire’s revenue for the quarter was up 20.9% compared to the same quarter last year. As a group, equities analysts predict that Flywire Co. will post 0.02 earnings per share for the current fiscal year.

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.