Flywire Co. (NASDAQ:FLYW) General Counsel Sells $55,671.84 in Stock

Flywire Co. (NASDAQ:FLYW) General Counsel Peter Butterfield sold 5,523 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $10.08, for a total value of $55,671.84. Following the completion of the transaction, the general counsel now directly owns 247,561 shares of the company’s stock, valued at $2,495,414.88. The trade was a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Flywire Stock Performance

Shares of Flywire stock opened at $10.08 on Thursday. Flywire Co. has a 52-week low of $8.62 and a 52-week high of $26.60. The company has a fifty day moving average of $17.43 and a 200-day moving average of $18.44. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 67.20, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). Flywire had a net margin of 4.23% and a return on equity of 2.49%. The company had revenue of $112.80 million for the quarter, compared to the consensus estimate of $118.85 million. On average, equities research analysts forecast that Flywire Co. will post 0.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Citigroup decreased their target price on shares of Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. The Goldman Sachs Group cut shares of Flywire from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $26.00 to $15.00 in a report on Wednesday, February 26th. Seaport Res Ptn cut Flywire from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Morgan Stanley lowered their price target on Flywire from $21.00 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Finally, Royal Bank of Canada cut their price objective on Flywire from $25.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $19.23.

Institutional Trading of Flywire

Several hedge funds and other institutional investors have recently bought and sold shares of FLYW. Palogic Value Management L.P. increased its stake in shares of Flywire by 5.6% in the fourth quarter. Palogic Value Management L.P. now owns 190,000 shares of the company’s stock worth $3,918,000 after buying an additional 10,000 shares during the period. Ascent Group LLC increased its position in shares of Flywire by 19.7% in the fourth quarter. Ascent Group LLC now owns 33,687 shares of the company’s stock valued at $695,000 after acquiring an additional 5,545 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of Flywire by 72.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 142,797 shares of the company’s stock valued at $2,944,000 after acquiring an additional 60,210 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Flywire during the fourth quarter worth about $2,486,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Flywire by 16.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 711,356 shares of the company’s stock worth $14,668,000 after purchasing an additional 101,431 shares during the last quarter. 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.