Flywire (NASDAQ:FLYW) General Counsel Sells $98,442.24 in Stock

Flywire Corporation (NASDAQ:FLYW) General Counsel Peter Butterfield sold 6,528 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $15.08, for a total value of $98,442.24. Following the completion of the sale, the general counsel directly owned 652,152 shares of the company’s stock, valued at approximately $9,834,452.16. This represents a 0.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, June 5th, Peter Butterfield sold 6,188 shares of Flywire stock. The stock was sold at an average price of $14.40, for a total value of $89,107.20.
• 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 Down 2.8%

FLYW stock traded down $0.44 during midday trading on Wednesday, hitting $15.42. The company had a trading volume of 1,793,421 shares, compared to its average volume of 1,890,639. Flywire Corporation has a 52 week low of $10.10 and a 52 week high of $18.05. The stock’s 50 day moving average price is $14.64 and its 200 day moving average price is $13.59. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 67.04, a PEG ratio of 1.05 and a beta of 1.34.

Flywire (NASDAQ:FLYW) last announced 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. Flywire had a return on equity of 3.78% and a net margin of 4.45%.The firm had revenue of $184.00 million during the quarter, compared to the consensus estimate of $170.24 million. During the same quarter in the previous year, the company posted ($0.03) earnings per share. The business’s revenue was up 40.9% on a year-over-year basis. Analysts predict that Flywire Corporation will post 0.42 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on FLYW shares. Raymond James Financial reiterated an “outperform” rating and issued a $22.00 price objective on shares of Flywire in a research report on Wednesday, May 27th. Morgan Stanley boosted their price objective on Flywire from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Weiss Ratings upgraded Flywire from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. BTIG Research boosted their price objective on Flywire from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, UBS Group boosted their price objective on Flywire from $14.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.07.

Hedge Funds Weigh In On Flywire

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Flywire by 3.4% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 24,086 shares of the company’s stock valued at $326,000 after acquiring an additional 800 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Flywire by 13.6% during the fourth quarter. Royal Bank of Canada now owns 9,025 shares of the company’s stock valued at $128,000 after acquiring an additional 1,081 shares in the last quarter. Essential Partners LLC raised 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 valued at $27,000 after acquiring an additional 1,571 shares in the last quarter. Global Retirement Partners LLC bought a new position in shares of Flywire during the fourth quarter valued at approximately $32,000. Finally, Daiwa Securities Group Inc. raised 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 valued at $66,000 after acquiring an additional 2,497 shares in the last quarter. Institutional investors own 95.90% of the company’s stock.

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.