Insider Selling: Flywire (NASDAQ:FLYW) General Counsel Sells $117,567.45 in Stock

Flywire Corporation (NASDAQ:FLYW) General Counsel Peter Butterfield sold 9,009 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $13.05, for a total transaction of $117,567.45. Following the transaction, the general counsel owned 532,962 shares in the company, valued at $6,955,154.10. The trade was a 1.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Wednesday, January 7th, Peter Butterfield sold 13,327 shares of Flywire stock. The stock was sold at an average price of $15.01, for a total transaction of $200,038.27.
• On Tuesday, December 9th, Peter Butterfield sold 8,120 shares of Flywire stock. The shares were sold at an average price of $13.69, for a total transaction of $111,162.80.

Flywire Price Performance

NASDAQ FLYW opened at $12.99 on Thursday. The stock’s fifty day moving average price is $12.73 and its 200 day moving average price is $13.28. Flywire Corporation has a 1 year low of $8.20 and a 1 year high of $15.25. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 129.91, a PEG ratio of 1.15 and a beta of 1.28.

Flywire (NASDAQ:FLYW) last issued its earnings results on Tuesday, February 24th. The company reported $105.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $105.56. The company had revenue of $157.54 million during the quarter, compared to analyst estimates of $144.96 million. Flywire had a return on equity of 2.76% and a net margin of 2.17%.The firm’s quarterly revenue was up 34.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.12) EPS. Research analysts expect that Flywire Corporation will post 0.14 earnings per share for the current year.

Institutional Trading of Flywire

Hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC purchased a new position in Flywire during the fourth quarter valued at approximately $32,000. Covestor Ltd grew its stake 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 purchasing an additional 2,216 shares during the period. Daiwa Securities Group Inc. grew its stake in shares of Flywire by 78.4% during the 2nd 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 during the period. State of Alaska Department of Revenue purchased a new position in shares of Flywire during the 3rd quarter valued at approximately $67,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Flywire during the 2nd quarter valued at approximately $119,000. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FLYW shares. Zacks Research upgraded Flywire from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 19th. Truist Financial reduced their price target on shares of Flywire from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Wall Street Zen upgraded shares of Flywire from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. Morgan Stanley raised shares of Flywire from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $15.00 to $17.00 in a report on Monday, March 2nd. Finally, Royal Bank Of Canada increased their price objective on shares of Flywire from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Six equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $15.58.

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.