Peter Butterfield Sells 6,528 Shares of Flywire (NASDAQ:FLYW) Stock

Flywire Corporation (NASDAQ:FLYW) General Counsel Peter Butterfield sold 6,528 shares of the stock in a transaction 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 transaction, the general counsel directly owned 652,152 shares in the company, valued at approximately $9,834,452.16. This represents a 0.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $14.40, for a total transaction of $89,107.20.
• On Thursday, May 7th, Peter Butterfield sold 1,480 shares of Flywire stock. The stock was sold at an average price of $18.02, for a total transaction of $26,669.60.

Flywire Trading Up 2.8%

Shares of FLYW opened at $15.85 on Friday. Flywire Corporation has a twelve month low of $10.10 and a twelve month high of $18.05. The firm has a market capitalization of $1.96 billion, a P/E ratio of 68.91, a price-to-earnings-growth ratio of 1.58 and a beta of 1.34. The stock’s fifty day simple moving average is $14.80 and its 200 day simple moving average is $13.61.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings results 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 firm 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 3.78%. Flywire’s revenue was up 40.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.03) earnings per share. Sell-side analysts predict that Flywire Corporation will post 0.28 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on FLYW shares. Truist Financial lifted their target price on Flywire from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. Royal Bank Of Canada raised their price objective on Flywire from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft raised shares of Flywire to an “outperform” rating in a report on Wednesday, May 27th. Wall Street Zen raised shares of Flywire from a “hold” rating to a “buy” rating in a report on Sunday, May 24th. Finally, JPMorgan Chase & Co. upgraded shares of 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. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.07.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Global Retirement Partners LLC acquired a new stake in Flywire in the 4th quarter valued at about $32,000. Essential Partners LLC raised its holdings in shares of Flywire by 219.1% in the 1st quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock worth $27,000 after purchasing an additional 1,571 shares in the last quarter. KBC Group NV acquired a new stake in Flywire during the first quarter valued at approximately $38,000. Leonteq Securities AG lifted its stake in Flywire by 267.6% during the first quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock valued at $41,000 after purchasing an additional 2,577 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in Flywire by 78.4% during the second quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock worth $66,000 after buying an additional 2,497 shares in the last quarter. 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.