Flywire (NASDAQ:FLYW) CEO Sells $819,500.00 in Stock

Flywire Corporation (NASDAQ:FLYW) CEO Michael Massaro sold 50,000 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $16.39, for a total transaction of $819,500.00. Following the transaction, the chief executive officer owned 2,766,035 shares of the company’s stock, valued at $45,335,313.65. This represents a 1.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Flywire Trading Down 2.8%

NASDAQ:FLYW traded down $0.50 during mid-day trading on Friday, hitting $17.23. The stock had a trading volume of 2,218,439 shares, compared to its average volume of 1,792,577. Flywire Corporation has a 52 week low of $9.97 and a 52 week high of $18.05. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of 74.91, a P/E/G ratio of 1.33 and a beta of 1.30. The company has a 50 day simple moving average of $12.84 and a 200-day simple moving average of $13.18.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.07. The business had revenue of $184.00 million for the quarter, compared to analysts’ expectations of $170.24 million. Flywire had a net margin of 4.45% and a return on equity of 3.82%. The company’s revenue was up 40.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.03) earnings per share. As a group, equities research analysts anticipate that Flywire Corporation will post 0.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

FLYW has been the topic of several analyst reports. Stephens upgraded shares of Flywire from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $17.00 to $19.00 in a research note on Friday, January 16th. Truist Financial reduced their price target on shares of Flywire from $17.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. BTIG Research boosted their price objective on shares of Flywire from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday. B. Riley Financial increased their target price on shares of Flywire from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Finally, Royal Bank Of Canada lifted their target price on Flywire from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Eight analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.17.

Hedge Funds Weigh In On Flywire

Several institutional investors and hedge funds have recently made changes to their positions in FLYW. Dimensional Fund Advisors LP increased its holdings in Flywire by 18.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,886,865 shares of the company’s stock worth $21,962,000 after purchasing an additional 295,960 shares in the last quarter. KBC Group NV bought a new position in shares of Flywire during the 1st quarter worth approximately $38,000. Roubaix Capital LLC acquired a new stake in Flywire in the 1st quarter valued at $2,685,000. Jennison Associates LLC boosted its position in Flywire by 19.9% during the first quarter. Jennison Associates LLC now owns 5,298,881 shares of the company’s stock valued at $61,679,000 after purchasing an additional 878,248 shares during the last quarter. Finally, Financiere des Professionnels Fonds d investissement inc. acquired a new position in Flywire during the first quarter worth $92,000. Institutional investors and hedge funds 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.