Phillip John Riese Sells 5,000 Shares of Flywire (NASDAQ:FLYW) 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 shares were sold at an average price of $15.43, for a total value of $77,150.00. Following the transaction, the director directly owned 234,493 shares in the company, valued at $3,618,226.99. This represents a 2.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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 value of $639,727.27.

Flywire Price Performance

Shares of NASDAQ:FLYW opened at $14.40 on Friday. The business’s 50-day moving average is $14.22 and its 200 day moving average is $13.52. Flywire Corporation has a 1 year low of $10.09 and a 1 year high of $18.05. The firm has a market capitalization of $1.78 billion, a P/E ratio of 62.61, a P/E/G ratio of 1.00 and a beta of 1.34.

Flywire (NASDAQ:FLYW) last announced its earnings results 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 return on equity of 3.78% and a net margin of 4.45%.The company had revenue of $184.00 million for the quarter, compared to analyst estimates of $170.24 million. During the same period in the prior year, the company posted ($0.03) EPS. The firm’s quarterly revenue was up 40.9% compared to the same quarter last year. On average, analysts expect that Flywire Corporation will post 0.42 EPS for the current year.

Analyst Ratings Changes

FLYW has been the topic of a number of research reports. Weiss Ratings raised Flywire from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. Raymond James Financial reissued an “outperform” rating and issued a $22.00 price objective on shares of Flywire in a report on Wednesday, May 27th. Royal Bank Of Canada increased their price objective on Flywire from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. BTIG Research increased their price objective on Flywire from $17.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, New Street Research set a $16.00 price objective on Flywire in a report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.07.

Hedge Funds Weigh In On Flywire

Hedge funds have recently bought and sold shares of the business. Essential Partners LLC boosted 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 purchasing an additional 1,571 shares in the last quarter. Global Retirement Partners LLC purchased a new position in Flywire during the fourth quarter worth approximately $32,000. KBC Group NV purchased a new position in Flywire during the first quarter worth approximately $38,000. Leonteq Securities AG boosted its position in Flywire by 267.6% during the first quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock worth $41,000 after purchasing an additional 2,577 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in Flywire by 78.4% during the second quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock worth $66,000 after purchasing an additional 2,497 shares in the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

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.