Picton Mahoney Asset Management Sells 277,153 Shares of Flywire Co. (NASDAQ:FLYW)

Picton Mahoney Asset Management lessened its stake in Flywire Co. (NASDAQ:FLYW) by 98.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,465 shares of the company’s stock after selling 277,153 shares during the quarter. Picton Mahoney Asset Management’s holdings in Flywire were worth $80,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. RiverPark Advisors LLC bought a new position in shares of Flywire in the third quarter valued at approximately $83,000. Envestnet Portfolio Solutions Inc. bought a new stake in Flywire during the third quarter worth $224,000. Handelsinvest Investeringsforvaltning bought a new stake in Flywire during the fourth quarter worth $176,000. OneAscent Financial Services LLC bought a new stake in Flywire during the fourth quarter worth $212,000. Finally, Olympiad Research LP bought a new stake in Flywire during the third quarter worth $317,000. Institutional investors own 95.90% of the company’s stock.

Insiders Place Their Bets

In other Flywire news, CEO Michael Massaro sold 13,043 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $24.07, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Flywire news, CEO Michael Massaro sold 13,043 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $24.07, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Peter Butterfield sold 4,730 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $27.30, for a total value of $129,129.00. Following the completion of the transaction, the general counsel now owns 214,678 shares in the company, valued at $5,860,709.40. The disclosure for this sale can be found here. Insiders have sold 141,800 shares of company stock worth $3,743,582 in the last ninety days. 5.00% of the stock is currently owned by insiders.

Flywire Stock Performance

NASDAQ:FLYW opened at $17.68 on Friday. Flywire Co. has a 52-week low of $15.77 and a 52-week high of $35.80. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of -196.42, a PEG ratio of 11.18 and a beta of 1.09. The business’s fifty day moving average is $23.15 and its 200 day moving average is $23.10.

Flywire (NASDAQ:FLYW) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The company had revenue of $114.10 million for the quarter, compared to the consensus estimate of $107.81 million. Flywire had a negative net margin of 2.13% and a negative return on equity of 1.35%. The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. Equities analysts predict that Flywire Co. will post 0.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on FLYW shares. Citigroup dropped their price target on Flywire from $36.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday. The Goldman Sachs Group dropped their price target on Flywire from $32.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday. BTIG Research dropped their price target on Flywire from $34.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday. Deutsche Bank Aktiengesellschaft began coverage on Flywire in a report on Tuesday, February 6th. They set a “buy” rating and a $27.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their target price on Flywire from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Flywire presently has an average rating of “Moderate Buy” and an average price target of $31.60.

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.