Flywire (NASDAQ:FLYW) General Counsel Sells $89,107.20 in Stock

Flywire Corporation (NASDAQ:FLYW) General Counsel Peter Butterfield sold 6,188 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $14.40, for a total value of $89,107.20. Following the completion of the sale, the general counsel directly owned 658,680 shares of the company’s stock, valued at $9,484,992. The trade was a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Peter Butterfield also recently made the following trade(s):

• On Thursday, May 7th, Peter Butterfield sold 1,480 shares of Flywire stock. The shares were sold at an average price of $18.02, for a total value of $26,669.60.

Flywire Trading Up 3.9%

FLYW stock opened at $14.78 on Friday. The company has a market capitalization of $1.82 billion, a P/E ratio of 64.26, a PEG ratio of 0.97 and a beta of 1.34. Flywire Corporation has a twelve month low of $10.10 and a twelve month high of $18.05. The business has a 50 day simple moving average of $14.43 and a 200-day simple moving average of $13.55.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.07. The business had revenue of $184.00 million during the quarter, compared to the consensus estimate of $170.24 million. Flywire had a return on equity of 3.78% and a net margin of 4.45%.The company’s revenue was up 40.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.03) earnings per share. Research analysts predict that Flywire Corporation will post 0.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Flywire

Hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC acquired a new stake in shares of Flywire during the fourth quarter worth $32,000. Essential Partners LLC lifted its holdings in shares of Flywire by 219.1% during the first quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock worth $27,000 after purchasing an additional 1,571 shares during the period. KBC Group NV acquired a new stake in shares of Flywire during the first quarter worth $38,000. Leonteq Securities AG lifted its holdings in shares of Flywire by 267.6% during the first quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock worth $41,000 after purchasing an additional 2,577 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Flywire by 78.4% during the second quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock worth $66,000 after purchasing an additional 2,497 shares during the period. 95.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. UBS Group increased their price objective on Flywire from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. New Street Research set a $16.00 price objective on Flywire in a report on Thursday, May 21st. Zacks Research raised Flywire from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 20th. Citigroup increased their price objective on Flywire from $13.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $17.00 price target on shares of Flywire in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Flywire presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.07.

About Flywire

Flywire Corp (NASDAQ: FLYW) is a global payments enablement and software company that specializes in facilitating complex cross-border transactions. Its cloud-based platform streamlines receivables and payer workflows across key verticals including education, healthcare, travel and hospitality, and commercial services. Flywire’s technology integrates with institutional systems to automate payment posting, reconciliation and reporting, aiming to improve the payer experience and accelerate cash flow for its clients.

Founded in 2009 by entrepreneur Iker Marcaide as peerTransfer, the company rebranded as Flywire in 2015.