Handelsinvest Investeringsforvaltning Sells 2,600 Shares of Flywire Co. (NASDAQ:FLYW)

Handelsinvest Investeringsforvaltning lowered its holdings in Flywire Co. (NASDAQ:FLYW) by 34.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,008 shares of the company’s stock after selling 2,600 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Flywire were worth $124,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Quest Partners LLC bought a new position in Flywire in the fourth quarter valued at $52,000. RiverPark Advisors LLC grew its position in shares of Flywire by 22.6% in the 4th quarter. RiverPark Advisors LLC now owns 3,195 shares of the company’s stock valued at $74,000 after acquiring an additional 589 shares during the period. Assetmark Inc. grew its position in shares of Flywire by 16.9% in the 4th quarter. Assetmark Inc. now owns 5,061 shares of the company’s stock valued at $117,000 after acquiring an additional 733 shares during the period. OneAscent Financial Services LLC bought a new position in shares of Flywire in the 4th quarter valued at about $212,000. Finally, Edmond DE Rothschild Holding S.A. bought a new position in shares of Flywire in the 4th quarter valued at about $243,000. Institutional investors own 95.90% of the company’s stock.

Flywire Trading Up 0.3 %

Shares of Flywire stock opened at $15.97 on Thursday. Flywire Co. has a twelve month low of $15.19 and a twelve month high of $35.80. The company has a 50-day simple moving average of $17.44 and a two-hundred day simple moving average of $21.12.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data 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 return on equity of 1.56% and a negative net margin of 2.63%. The business had revenue of $114.10 million during the quarter, compared to analyst estimates of $107.81 million. During the same quarter last year, the firm earned ($0.03) EPS. Flywire’s revenue for the quarter was up 20.9% compared to the same quarter last year. Analysts predict that Flywire Co. will post 0.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FLYW. Citigroup decreased their price objective on shares of Flywire from $36.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Wedbush reissued a “neutral” rating and issued a $18.00 price objective on shares of Flywire in a research report on Thursday, May 23rd. The Goldman Sachs Group decreased their price objective 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. Royal Bank of Canada cut their target price on shares of Flywire from $41.00 to $34.00 and set an “outperform” rating for the company in a research note on Wednesday, May 8th. Finally, BTIG Research cut their target price on shares of Flywire from $34.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.86.

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.