Insider Selling: Flywire (NASDAQ:FLYW) General Counsel Sells 6,528 Shares of Stock

Flywire Corporation (NASDAQ:FLYW) General Counsel Peter Butterfield sold 6,528 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $15.08, for a total value of $98,442.24. Following the completion of the transaction, the general counsel 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 position. The transaction 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 stock was 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 stock was sold at an average price of $18.02, for a total value of $26,669.60.

Flywire Trading Down 2.8%

FLYW traded down $0.44 during trading on Wednesday, reaching $15.42. The stock had a trading volume of 1,793,421 shares, compared to its average volume of 1,890,639. The stock’s 50 day moving average is $14.64 and its two-hundred day moving average is $13.59. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 67.04, a P/E/G ratio of 1.05 and a beta of 1.34. Flywire Corporation has a one year low of $10.10 and a one year high of $18.05.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.07. The business had revenue of $184.00 million during the quarter, compared to the consensus estimate of $170.24 million. Flywire had a return on equity of 3.78% and a net margin of 4.45%.The firm’s quarterly revenue was up 40.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.03) earnings per share. On average, equities research analysts predict that Flywire Corporation will post 0.42 earnings per share for the current year.

Institutional Investors Weigh In On Flywire

Several institutional investors have recently modified their holdings of the business. Mangrove Partners IM LLC bought a new position in Flywire in the third quarter valued at about $39,289,000. Wellington Management Group LLP lifted its holdings in Flywire by 173.3% in the third quarter. Wellington Management Group LLP now owns 3,358,186 shares of the company’s stock valued at $45,470,000 after acquiring an additional 2,129,514 shares during the period. Voss Capital LP lifted its holdings in Flywire by 21.5% in the fourth quarter. Voss Capital LP now owns 11,750,000 shares of the company’s stock valued at $166,380,000 after acquiring an additional 2,080,202 shares during the period. Jennison Associates LLC lifted its holdings in Flywire by 35.2% in the fourth quarter. Jennison Associates LLC now owns 4,420,633 shares of the company’s stock valued at $62,596,000 after acquiring an additional 1,150,802 shares during the period. Finally, Cooper Creek Partners Management LLC bought a new position in Flywire in the third quarter valued at about $15,433,000. 95.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FLYW has been the topic of a number of recent research reports. Raymond James Financial reissued an “outperform” rating and issued a $22.00 target price on shares of Flywire in a research note on Wednesday, May 27th. UBS Group increased their target price on Flywire from $14.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. BTIG Research increased their target price on Flywire from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft raised Flywire to an “outperform” rating in a research note on Wednesday, May 27th. Finally, JPMorgan Chase & Co. raised Flywire from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $14.00 to $16.00 in a research note on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.07.

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.