Flywire (NASDAQ:FLYW) General Counsel Sells $98,442.24 in Stock

Flywire Corporation (NASDAQ:FLYW) General Counsel Peter Butterfield sold 6,528 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $15.08, for a total transaction of $98,442.24. Following the completion of the transaction, the general counsel directly owned 652,152 shares of the company’s stock, valued at approximately $9,834,452.16. This trade represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Peter Butterfield also recently made the following trade(s):

• On Friday, June 5th, Peter Butterfield sold 6,188 shares of Flywire stock. The shares were sold at an average price of $14.40, for a total value of $89,107.20.
• On Thursday, May 7th, Peter Butterfield sold 1,480 shares of Flywire stock. The shares were sold at an average price of $18.02, for a total transaction of $26,669.60.

Flywire Price Performance

FLYW stock opened at $15.85 on Friday. The stock’s fifty day simple moving average is $14.88 and its 200-day simple moving average is $13.63. Flywire Corporation has a 52-week low of $10.10 and a 52-week high of $18.05. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 68.91, a price-to-earnings-growth ratio of 1.62 and a beta of 1.34.

Flywire (NASDAQ:FLYW) last announced 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. Flywire had a net margin of 4.45% and a return on equity of 3.78%. The company had revenue of $184.00 million during the quarter, compared to analysts’ expectations of $170.24 million. During the same period in the previous year, the company earned ($0.03) EPS. The business’s quarterly revenue was up 40.9% compared to the same quarter last year. As a group, analysts anticipate that Flywire Corporation will post 0.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Flywire

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Essential Partners LLC increased its position in Flywire by 219.1% during the first quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock worth $27,000 after acquiring an additional 1,571 shares during the period. Global Retirement Partners LLC acquired a new position in shares of Flywire in the 4th quarter worth approximately $32,000. KBC Group NV bought a new position in shares of Flywire during the first quarter valued at $38,000. Leonteq Securities AG lifted its holdings 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 purchasing an additional 2,577 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its stake 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 last quarter. Institutional investors and hedge funds own 95.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FLYW. New Street Research set a $16.00 target price on shares of Flywire in a report on Thursday, May 21st. JPMorgan Chase & Co. raised Flywire from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $14.00 to $16.00 in a research note on Thursday, May 21st. Wall Street Zen lowered shares of Flywire from a “buy” rating to a “hold” rating in a research note on Saturday. Zacks Research upgraded Flywire from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 20th. Finally, Citigroup increased their target price on shares of Flywire from $13.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus 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.