Flywire (NASDAQ:FLYW) CEO Sells 50,000 Shares

Flywire Corporation (NASDAQ:FLYW) CEO Michael Massaro sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $15.26, for a total transaction of $763,000.00. Following the transaction, the chief executive officer directly owned 2,678,051 shares in the company, valued at approximately $40,867,058.26. The trade was a 1.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Michael Massaro also recently made the following trade(s):

• On Wednesday, May 6th, Michael Massaro sold 50,000 shares of Flywire stock. The stock was sold at an average price of $16.39, for a total transaction of $819,500.00.

Flywire Stock Down 2.8%

Shares of FLYW traded down $0.44 during mid-day trading on Wednesday, hitting $15.42. 1,793,421 shares of the company’s stock were exchanged, compared to its average volume of 1,890,639. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 67.04, a P/E/G ratio of 1.05 and a beta of 1.34. The firm has a fifty day moving average of $14.64 and a two-hundred day moving average of $13.59. Flywire Corporation has a twelve month low of $10.10 and a twelve month high of $18.05.

Flywire (NASDAQ:FLYW) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.07. The business had revenue of $184.00 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.03) EPS. On average, equities analysts predict that Flywire Corporation will post 0.42 earnings per share for the current year.

Hedge Funds Weigh In On Flywire

Several large investors have recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Flywire by 3.4% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 24,086 shares of the company’s stock valued at $326,000 after purchasing an additional 800 shares during the period. Royal Bank of Canada increased its position in Flywire by 13.6% in the 4th quarter. Royal Bank of Canada now owns 9,025 shares of the company’s stock worth $128,000 after buying an additional 1,081 shares during the period. Essential Partners LLC increased its position in 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 buying an additional 1,571 shares during the period. Global Retirement Partners LLC acquired a new position in shares of Flywire during the fourth quarter worth approximately $32,000. Finally, Daiwa Securities Group Inc. boosted its position in shares of Flywire by 78.4% in the second quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock valued at $66,000 after acquiring an additional 2,497 shares during the period. Institutional investors and hedge funds own 95.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FLYW. Weiss Ratings raised Flywire from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. Royal Bank Of Canada boosted their target price on Flywire from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Morgan Stanley increased their price target on Flywire from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. New Street Research set a $16.00 price target on shares of Flywire in a research report on Thursday, May 21st. Finally, Zacks Research upgraded shares of Flywire from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.07.

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.