Flywire (NASDAQ:FLYW) Director Sells $77,150.00 in Stock

Flywire Corporation (NASDAQ:FLYW) Director Phillip John Riese sold 5,000 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $15.43, for a total transaction of $77,150.00. Following the transaction, the director owned 234,493 shares in the company, valued at $3,618,226.99. The trade was a 2.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Phillip John Riese also recently made the following trade(s):

• On Wednesday, May 6th, Phillip John Riese sold 37,921 shares of Flywire stock. The shares were sold at an average price of $16.87, for a total transaction of $639,727.27.

Flywire Trading Down 0.2%

Shares of FLYW stock traded down $0.03 during trading hours on Thursday, hitting $14.58. The company’s stock had a trading volume of 1,867,655 shares, compared to its average volume of 1,861,997. The business has a fifty day moving average of $14.13 and a 200-day moving average of $13.51. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 63.39, a P/E/G ratio of 1.04 and a beta of 1.34. Flywire Corporation has a twelve month low of $9.97 and a twelve month high of $18.05.

Flywire (NASDAQ:FLYW) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.03 by $0.07. The business had revenue of $184.00 million for 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%. The company’s quarterly revenue was up 40.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.03) earnings per share. On average, equities analysts expect that Flywire Corporation will post 0.42 EPS for the current fiscal year.

Analysts Set New Price Targets

FLYW has been the topic of several recent analyst reports. Truist Financial upped their price objective on shares of Flywire from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, May 19th. Wall Street Zen raised shares of Flywire from a “hold” rating to a “buy” rating in a research note on Sunday, May 24th. New Street Research set a $16.00 price target on shares of Flywire in a research note on Thursday, May 21st. UBS Group lifted their price target on shares of Flywire from $14.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Finally, Citigroup raised their price objective on shares of Flywire from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Flywire has a consensus rating of “Moderate Buy” and an average target price of $18.07.

Institutional Trading of Flywire

Hedge funds have recently added to or reduced their stakes in the business. Essential Partners LLC raised its stake in Flywire by 219.1% during the 1st quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock valued at $27,000 after acquiring an additional 1,571 shares in the last quarter. Global Retirement Partners LLC bought a new stake in Flywire during the 4th quarter valued at $32,000. KBC Group NV bought a new stake in Flywire during the 1st quarter valued at $38,000. Leonteq Securities AG raised its stake 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. Finally, Daiwa Securities Group Inc. raised its stake in Flywire by 78.4% during the 2nd 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 in the last quarter. Institutional investors own 95.90% of the company’s stock.

Flywire Company Profile

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.