Goldman Sachs Group Inc. Sells 759,666 Shares of Flywire Co. (NASDAQ:FLYW)

Goldman Sachs Group Inc. lessened its holdings in shares of Flywire Co. (NASDAQ:FLYWGet Rating) by 7.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 9,463,292 shares of the company’s stock after selling 759,666 shares during the period. Goldman Sachs Group Inc. owned 9.04% of Flywire worth $360,173,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in FLYW. Alliancebernstein L.P. bought a new position in Flywire in the third quarter valued at about $13,638,000. Principal Financial Group Inc. boosted its holdings in Flywire by 2.0% in the third quarter. Principal Financial Group Inc. now owns 550,788 shares of the company’s stock valued at $24,146,000 after acquiring an additional 10,536 shares during the last quarter. Deutsche Bank AG bought a new position in Flywire in the third quarter valued at about $323,000. Jennison Associates LLC lifted its stake in Flywire by 19.8% in the third quarter. Jennison Associates LLC now owns 413,994 shares of the company’s stock valued at $18,149,000 after buying an additional 68,313 shares during the period. Finally, Sycomore Asset Management acquired a new position in Flywire in the fourth quarter valued at about $1,254,000. Institutional investors own 76.06% of the company’s stock.

In other news, CEO Michael Massaro sold 8,580 shares of the stock in a transaction that occurred on Thursday, February 17th. The stock was sold at an average price of $28.08, for a total value of $240,926.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Phillip John Riese sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 24th. The shares were sold at an average price of $25.52, for a total value of $127,600.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,505 shares of company stock worth $2,946,937.

Shares of Flywire stock traded up $2.27 during trading on Friday, reaching $20.18. 2,712,361 shares of the company’s stock were exchanged, compared to its average volume of 636,188. The company has a market cap of $2.16 billion and a P/E ratio of -42.04. Flywire Co. has a 1-year low of $16.30 and a 1-year high of $57.41. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.78 and a current ratio of 3.78. The firm’s 50-day moving average price is $28.03 and its 200 day moving average price is $32.34.

Flywire (NASDAQ:FLYWGet Rating) last issued its quarterly earnings data on Tuesday, May 10th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07). The firm had revenue of $64.55 million for the quarter, compared to the consensus estimate of $56.83 million. Flywire had a negative return on equity of 4.10% and a negative net margin of 13.72%. The company’s revenue was up 43.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.41) EPS. As a group, equities research analysts predict that Flywire Co. will post -0.23 EPS for the current year.

Several equities analysts have recently weighed in on the company. Wells Fargo & Company cut their price objective on Flywire from $41.00 to $36.00 in a report on Wednesday. Sumitomo Mitsui Financial Group began coverage on Flywire in a report on Wednesday, April 13th. They set an “outperform” rating and a $40.00 price objective on the stock. Royal Bank of Canada dropped their target price on Flywire from $51.00 to $44.00 and set an “outperform” rating on the stock in a research report on Thursday, March 3rd. The Goldman Sachs Group dropped their target price on Flywire from $44.00 to $37.00 and set a “neutral” rating on the stock in a research report on Friday, April 8th. Finally, Zacks Investment Research lowered Flywire from a “hold” rating to a “strong sell” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, one has issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Flywire presently has a consensus rating of “Buy” and a consensus price target of $40.83.

Flywire Company Profile (Get Rating)

Flywire Corporation, together with its subsidiaries, operates as a payment enablement and software company in the United States, Canada, and the United Kingdom, and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay.

Further Reading

Institutional Ownership by Quarter for Flywire (NASDAQ:FLYW)

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