Peter Butterfield Sells 1,769 Shares of Flywire Co. (NASDAQ:FLYW) Stock

Flywire Co. (NASDAQ:FLYW) General Counsel Peter Butterfield sold 1,769 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction of $31,912.76. Following the completion of the sale, the general counsel now directly owns 273,517 shares in the company, valued at approximately $4,934,246.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Flywire Stock Performance

Shares of Flywire stock traded up $0.16 during trading on Thursday, hitting $17.54. The company’s stock had a trading volume of 676,353 shares, compared to its average volume of 1,487,326. Flywire Co. has a 52 week low of $15.19 and a 52 week high of $33.65. The company has a market capitalization of $2.18 billion, a PE ratio of -158.00, a P/E/G ratio of 6.69 and a beta of 0.98. The company has a fifty day simple moving average of $17.55 and a two-hundred day simple moving average of $19.78.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, August 6th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). Flywire had a negative net margin of 1.85% and a negative return on equity of 1.03%. The business had revenue of $103.68 million for the quarter, compared to the consensus estimate of $100.30 million. During the same period in the prior year, the business posted ($0.15) EPS. Flywire’s revenue for the quarter was up 22.2% on a year-over-year basis. As a group, analysts predict that Flywire Co. will post 0.05 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. UBS Group dropped their target price on shares of Flywire from $34.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. BTIG Research dropped their price objective on Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. William Blair reiterated an “outperform” rating on shares of Flywire in a research report on Wednesday, May 8th. The Goldman Sachs Group decreased their target price on Flywire from $32.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Finally, Citigroup cut their price target on shares of Flywire from $27.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Flywire currently has an average rating of “Moderate Buy” and a consensus target price of $25.92.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP bought a new stake in Flywire in the second quarter worth $26,000. Headlands Technologies LLC bought a new position in Flywire in the 1st quarter worth about $46,000. Quest Partners LLC bought a new position in Flywire in the 4th quarter worth about $52,000. Advisors Asset Management Inc. grew its position in Flywire by 45.6% during the 1st quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company’s stock valued at $76,000 after purchasing an additional 954 shares during the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in Flywire during the 2nd quarter valued at about $64,000. Institutional investors own 95.90% of the company’s stock.

About Flywire

Flywire Corporation, together with its subsidiaries, operates as a payments enablement and software company in the United States and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay. The company's platform facilitates payment flows across multiple currencies, payment types, and payment options, as well as provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.