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 Flywire stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $18.02, for a total transaction of $26,669.60. Following the sale, the general counsel directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 stock was sold at an average price of $13.05, for a total transaction of $117,567.45.

Flywire Trading Down 4.5%

NASDAQ:FLYW traded down $0.77 during midday trading on Monday, hitting $16.46. 1,417,962 shares of the company were exchanged, compared to its average volume of 1,788,388. The company has a fifty day simple moving average of $12.84 and a 200 day simple moving average of $13.18. Flywire Corporation has a fifty-two week low of $9.97 and a fifty-two week high of $18.05. The company has a market capitalization of $1.99 billion, a PE ratio of 71.57, a price-to-earnings-growth ratio of 1.29 and a beta of 1.30.

Flywire (NASDAQ:FLYW) last announced 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 net margin of 4.45% and a return on equity of 3.78%. The firm had revenue of $184.00 million for the quarter, compared to analyst estimates of $170.24 million. During the same period last year, the business earned ($0.03) EPS. Flywire’s revenue for the quarter was up 40.9% compared to the same quarter last year. As a group, equities research analysts expect that Flywire Corporation will post 0.39 EPS for the current year.

Analyst Upgrades and Downgrades

FLYW has been the topic of several research analyst reports. Weiss Ratings upgraded shares of Flywire from a “sell (d)” rating to a “hold (c-)” rating in a research note on Thursday. Raymond James Financial restated an “outperform” rating and issued a $21.00 price objective on shares of Flywire in a research note on Wednesday, May 6th. Truist Financial dropped their price objective on shares of Flywire from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Royal Bank Of Canada lifted their price objective on shares of Flywire from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Finally, BTIG Research lifted their price objective on shares of Flywire from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.17.

Institutional Trading of Flywire

Hedge funds and other institutional investors have recently made changes to their positions in the company. CIBC Private Wealth Group LLC purchased a new stake in shares of Flywire in the third quarter valued at about $1,253,000. GDS Wealth Management boosted its holdings in shares of Flywire by 9.0% in the third quarter. GDS Wealth Management now owns 1,039,320 shares of the company’s stock valued at $14,072,000 after acquiring an additional 85,411 shares in the last quarter. BlueCrest Capital Management Ltd purchased a new stake in shares of Flywire in the third quarter valued at about $1,354,000. Jennison Associates LLC boosted its holdings in shares of Flywire by 35.2% in the fourth quarter. Jennison Associates LLC now owns 4,420,633 shares of the company’s stock valued at $62,596,000 after acquiring an additional 1,150,802 shares in the last quarter. Finally, Promus Capital LLC purchased a new stake in shares of Flywire in the third quarter valued at about $1,000,000. 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.