Insider Selling: Flywire (NASDAQ:FLYW) Director Sells 5,000 Shares of Stock

Flywire Corporation (NASDAQ:FLYW) Director Phillip John Riese sold 5,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $15.43, for a total value of $77,150.00. Following the completion of the transaction, the director owned 234,493 shares of the company’s stock, valued at $3,618,226.99. The trade was a 2.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Phillip John Riese also recently made the following trade(s):

• On Wednesday, May 6th, Phillip John Riese sold 37,921 shares of Flywire stock. The stock was sold at an average price of $16.87, for a total value of $639,727.27.

Flywire Stock Performance

Shares of FLYW traded down $0.03 during midday trading on Thursday, hitting $14.58. 1,867,655 shares of the stock were exchanged, compared to its average volume of 1,861,997. Flywire Corporation has a 52-week low of $9.97 and a 52-week high of $18.05. The stock has a fifty day simple moving average of $14.13 and a 200 day simple moving average of $13.51. The firm has a market cap of $1.80 billion, a P/E ratio of 63.39, a P/E/G ratio of 1.04 and a beta of 1.34.

Flywire (NASDAQ:FLYW) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, topping 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 business had revenue of $184.00 million during the quarter, compared to analyst estimates of $170.24 million. During the same period last year, the business posted ($0.03) earnings per share. The company’s quarterly revenue was up 40.9% on a year-over-year basis. As a group, equities research analysts forecast that Flywire Corporation will post 0.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Flywire

A number of large investors have recently made changes to their positions in FLYW. CIBC Private Wealth Group LLC acquired a new position in Flywire during the third quarter worth about $1,253,000. Jennison Associates LLC grew its position in Flywire by 35.2% during the fourth quarter. Jennison Associates LLC now owns 4,420,633 shares of the company’s stock worth $62,596,000 after buying an additional 1,150,802 shares during the period. BlueCrest Capital Management Ltd acquired a new position in Flywire during the third quarter worth about $1,354,000. AlphaQuest LLC grew its position in Flywire by 372.4% during the fourth quarter. AlphaQuest LLC now owns 105,448 shares of the company’s stock worth $1,493,000 after buying an additional 83,128 shares during the period. Finally, First Eagle Investment Management LLC grew its position in Flywire by 60.6% during the fourth quarter. First Eagle Investment Management LLC now owns 430,337 shares of the company’s stock worth $6,094,000 after buying an additional 162,348 shares during the period. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. JPMorgan Chase & Co. upgraded Flywire from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $14.00 to $16.00 in a research report on Thursday, May 21st. Morgan Stanley raised their price target on Flywire from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Wall Street Zen upgraded Flywire from a “hold” rating to a “buy” rating in a research note on Sunday, May 24th. Citigroup lifted their target price on Flywire from $13.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Finally, Truist Financial upped their price objective on Flywire from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.07.

Flywire Company Profile

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.