Insider Selling: Flywire (NASDAQ:FLYW) General Counsel Sells 1,480 Shares of Stock

Flywire Corporation (NASDAQ:FLYW) General Counsel Peter Butterfield sold 1,480 shares of the company’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $18.02, for a total transaction of $26,669.60. Following the transaction, the general counsel owned 671,482 shares of the company’s stock, valued at approximately $12,100,105.64. This trade represents a 0.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, March 5th, Peter Butterfield sold 9,009 shares of Flywire stock. The shares were sold at an average price of $13.05, for a total transaction of $117,567.45.

Flywire Trading Down 4.5%

FLYW stock traded down $0.77 during mid-day trading on Monday, reaching $16.46. The company’s stock had a trading volume of 1,417,962 shares, compared to its average volume of 1,788,388. The stock has a market cap of $1.99 billion, a PE ratio of 71.57, a P/E/G ratio of 1.29 and a beta of 1.30. Flywire Corporation has a fifty-two week low of $9.97 and a fifty-two week high of $18.05. The company’s 50 day moving average is $12.84 and its two-hundred day moving average is $13.18.

Flywire (NASDAQ:FLYW) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.07. The company had revenue of $184.00 million during the quarter, compared to the consensus estimate of $170.24 million. Flywire had a net margin of 4.45% and a return on equity of 3.78%. Flywire’s quarterly revenue was up 40.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.03) EPS. On average, analysts forecast that Flywire Corporation will post 0.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Truist Financial cut their price objective 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. Royal Bank Of Canada raised their price target on shares of Flywire from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Weiss Ratings raised shares of Flywire from a “sell (d)” rating to a “hold (c-)” rating in a research report on Thursday. UBS Group increased their price objective on shares of Flywire from $14.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $21.00 price target on shares of Flywire in a research report on Wednesday, May 6th. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.17.

Hedge Funds Weigh In On Flywire

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FLYW. AQR Capital Management LLC purchased a new position in Flywire in the 1st quarter valued at approximately $271,000. Millennium Management LLC lifted its position in shares of Flywire by 15.1% during the 1st quarter. Millennium Management LLC now owns 1,330,971 shares of the company’s stock worth $12,644,000 after purchasing an additional 175,007 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Flywire by 14.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,241,226 shares of the company’s stock worth $11,792,000 after purchasing an additional 159,239 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Flywire by 7.3% during the 2nd quarter. American Century Companies Inc. now owns 107,856 shares of the company’s stock worth $1,262,000 after purchasing an additional 7,357 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new stake in shares of Flywire during the 2nd quarter worth $184,000. Hedge funds and other 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.