Flywire Co. (NASDAQ:FLYW) Director Matthew C. Harris Sells 169,716 Shares

Flywire Co. (NASDAQ:FLYW – Get Rating) Director Matthew C. Harris sold 169,716 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $29.81, for a total transaction of $5,059,233.96. Following the sale, the director now directly owns 3,795,388 shares of the company’s stock, valued at approximately $113,140,516.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Flywire Stock Down 0.7 %

FLYW stock traded down $0.21 during midday trading on Friday, hitting $29.51. The company’s stock had a trading volume of 1,182,203 shares, compared to its average volume of 829,308. Flywire Co. has a 12 month low of $14.56 and a 12 month high of $32.01. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of -99.87 and a beta of 1.15. The company has a 50 day moving average of $28.97 and a two-hundred day moving average of $25.75.

Flywire (NASDAQ:FLYW – Get Rating) last posted its quarterly earnings results on Tuesday, February 28th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.10. Flywire had a negative return on equity of 6.89% and a negative net margin of 10.30%. The business had revenue of $73.05 million during the quarter, compared to the consensus estimate of $65.50 million. During the same period in the prior year, the company posted ($0.11) EPS. The firm’s revenue for the quarter was up 42.1% compared to the same quarter last year. On average, analysts anticipate that Flywire Co. will post -0.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on FLYW shares. Stephens increased their target price on shares of Flywire from $32.00 to $34.00 in a report on Wednesday, May 10th. Bank of America increased their target price on shares of Flywire from $32.00 to $36.00 in a report on Wednesday, May 10th. Citigroup increased their target price on shares of Flywire from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, March 2nd. Wells Fargo & Company increased their target price on shares of Flywire from $30.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, March 1st. Finally, The Goldman Sachs Group increased their target price on shares of Flywire from $30.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, April 13th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $32.00.

Institutional Investors Weigh In On Flywire

Several large investors have recently bought and sold shares of FLYW. Vanguard Group Inc. grew its stake in shares of Flywire by 29.0% in the 3rd quarter. Vanguard Group Inc. now owns 7,281,361 shares of the company’s stock worth $167,179,000 after buying an additional 1,635,222 shares in the last quarter. Alliancebernstein L.P. grew its position in Flywire by 9.4% in the fourth quarter. Alliancebernstein L.P. now owns 5,709,945 shares of the company’s stock worth $139,722,000 after acquiring an additional 488,622 shares in the last quarter. BlackRock Inc. increased its stake in Flywire by 20.4% during the third quarter. BlackRock Inc. now owns 3,680,820 shares of the company’s stock worth $84,512,000 after acquiring an additional 624,918 shares during the last quarter. Millennium Management LLC raised its position in Flywire by 34.2% during the fourth quarter. Millennium Management LLC now owns 2,566,268 shares of the company’s stock valued at $62,797,000 after purchasing an additional 653,610 shares during the period. Finally, Fred Alger Management LLC lifted its stake in shares of Flywire by 438.7% in the 1st quarter. Fred Alger Management LLC now owns 2,456,799 shares of the company’s stock valued at $72,132,000 after purchasing an additional 2,000,717 shares during the last quarter. Institutional investors own 79.06% of the company’s stock.

About Flywire

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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.