Flywire (NASDAQ:FLYW) General Counsel Peter Butterfield Sells 6,188 Shares

Flywire Corporation (NASDAQ:FLYW) General Counsel Peter Butterfield sold 6,188 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $14.40, for a total transaction of $89,107.20. Following the completion of the transaction, the general counsel directly owned 658,680 shares of the company’s stock, valued at $9,484,992. The trade was a 0.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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 transaction of $26,669.60.

Flywire Trading Up 1.8%

FLYW opened at $14.13 on Wednesday. Flywire Corporation has a 12-month low of $10.10 and a 12-month high of $18.05. The firm has a market capitalization of $1.74 billion, a PE ratio of 61.43, a P/E/G ratio of 0.95 and a beta of 1.34. The firm has a 50 day moving average of $14.31 and a two-hundred day moving average of $13.53.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings results 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. 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 analyst estimates of $170.24 million. During the same period last year, the firm posted ($0.03) EPS. Flywire’s revenue for the quarter was up 40.9% compared to the same quarter last year. As a group, analysts predict that Flywire Corporation will post 0.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Flywire

A number of institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Flywire by 3.4% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 24,086 shares of the company’s stock valued at $326,000 after acquiring an additional 800 shares during the period. Royal Bank of Canada grew its stake in Flywire by 13.6% in the 4th quarter. Royal Bank of Canada now owns 9,025 shares of the company’s stock valued at $128,000 after acquiring an additional 1,081 shares during the period. Essential Partners LLC grew its stake in Flywire by 219.1% in 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 during the period. Global Retirement Partners LLC acquired a new stake in Flywire in the 4th quarter valued at $32,000. Finally, Daiwa Securities Group Inc. grew its stake in Flywire by 78.4% in 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 during the period. Institutional investors and hedge funds own 95.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on FLYW. Royal Bank Of Canada raised 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. Citigroup raised their price objective on shares of Flywire from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Morgan Stanley raised their price objective on shares of Flywire from $17.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Truist Financial raised their price objective on shares of Flywire from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, May 19th. Finally, Zacks Research raised shares of Flywire from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Flywire has a consensus rating of “Moderate Buy” and a consensus price target 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.