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

Flywire Corporation (NASDAQ:FLYW) CEO Michael Massaro sold 50,000 shares of the stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $16.39, for a total value of $819,500.00. Following the completion of the sale, the chief executive officer owned 2,766,035 shares in the company, valued at approximately $45,335,313.65. This trade represents a 1.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Flywire Price Performance

Flywire stock traded down $0.50 during mid-day trading on Friday, reaching $17.23. 2,218,439 shares of the company were exchanged, compared to its average volume of 1,792,577. The company has a fifty day simple moving average of $12.84 and a 200-day simple moving average of $13.18. The firm has a market cap of $2.09 billion, a PE ratio of 74.91, a PEG ratio of 1.33 and a beta of 1.30. Flywire Corporation has a 12 month low of $9.97 and a 12 month high of $18.05.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.03 by $0.07. Flywire had a net margin of 4.45% and a return on equity of 3.82%. The business had revenue of $184.00 million during the quarter, compared to the consensus estimate of $170.24 million. During the same quarter in the prior year, the firm earned ($0.03) EPS. The firm’s revenue was up 40.9% compared to the same quarter last year. Sell-side analysts anticipate that Flywire Corporation will post 0.38 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on FLYW. Weiss Ratings reissued a “sell (d)” rating on shares of Flywire in a research report on Tuesday, April 21st. B. Riley Financial increased their price objective on Flywire from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, January 9th. Royal Bank Of Canada raised their price objective on shares of Flywire from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. Wall Street Zen upgraded shares of Flywire from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. Finally, Morgan Stanley upped their price objective on Flywire from $17.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Flywire presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.17.

Hedge Funds Weigh In On Flywire

Several hedge funds have recently made changes to their positions in FLYW. Global Retirement Partners LLC purchased a new position in shares of Flywire during the fourth quarter valued at about $32,000. KBC Group NV purchased a new stake in Flywire in the first quarter worth about $38,000. Leonteq Securities AG boosted its position in Flywire by 267.6% during the 1st quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock valued at $41,000 after acquiring an additional 2,577 shares in the last quarter. Covestor Ltd grew its holdings in shares of Flywire by 217.9% during the 3rd quarter. Covestor Ltd now owns 3,233 shares of the company’s stock worth $43,000 after acquiring an additional 2,216 shares during the period. Finally, Daiwa Securities Group Inc. lifted its stake in shares of Flywire by 78.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock valued at $66,000 after purchasing an additional 2,497 shares during the period. 95.90% of the stock is owned by hedge funds and other institutional investors.

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.