Flywire Co. (NASDAQ:FLYW) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA decreased its stake in Flywire Co. (NASDAQ:FLYW) by 3.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 410,540 shares of the company’s stock after selling 16,329 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.33% of Flywire worth $6,729,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Quarry LP purchased a new stake in shares of Flywire during the second quarter worth approximately $26,000. Headlands Technologies LLC boosted its stake in Flywire by 82.3% during the 2nd quarter. Headlands Technologies LLC now owns 3,343 shares of the company’s stock worth $55,000 after purchasing an additional 1,509 shares during the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of Flywire during the second quarter worth $64,000. Advisors Asset Management Inc. boosted its position in Flywire by 15.4% during the third quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock worth $66,000 after acquiring an additional 539 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Flywire during the third quarter worth approximately $149,000. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Flywire Stock Performance

Shares of NASDAQ FLYW opened at $22.46 on Wednesday. The stock’s 50-day simple moving average is $18.22 and its 200-day simple moving average is $17.62. The firm has a market capitalization of $2.79 billion, a PE ratio of 149.73, a price-to-earnings-growth ratio of 4.42 and a beta of 0.95. Flywire Co. has a fifty-two week low of $15.19 and a fifty-two week high of $31.54.

Insiders Place Their Bets

In related news, CEO Michael Massaro sold 8,629 shares of Flywire stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total transaction of $155,667.16. Following the sale, the chief executive officer now directly owns 1,739,351 shares in the company, valued at $31,377,892.04. This trade represents a 0.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Peter Butterfield sold 1,769 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total transaction of $31,912.76. Following the completion of the transaction, the general counsel now owns 273,517 shares of the company’s stock, valued at $4,934,246.68. This represents a 0.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,966 shares of company stock valued at $480,143. 3.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on FLYW. Raymond James upped their price target on Flywire from $23.00 to $27.00 and gave the stock a “strong-buy” rating in a research note on Friday, November 8th. Citigroup dropped their target price on Flywire from $27.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. B. Riley reissued a “buy” rating and set a $30.00 price target on shares of Flywire in a research report on Wednesday, October 2nd. Morgan Stanley lifted their price objective on shares of Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Finally, Wells Fargo & Company lowered shares of Flywire from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $20.00 to $18.00 in a report on Friday, October 11th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Flywire currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.86.

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.