Phillip John Riese Sells 37,921 Shares of Flywire (NASDAQ:FLYW) Stock

Flywire Corporation (NASDAQ:FLYW) Director Phillip John Riese sold 37,921 shares of Flywire stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $16.87, for a total value of $639,727.27. Following the transaction, the director directly owned 234,493 shares in the company, valued at approximately $3,955,896.91. The trade was a 13.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Flywire Stock Performance

NASDAQ FLYW traded down $0.50 on Friday, reaching $17.23. The company’s stock had a trading volume of 2,218,439 shares, compared to its average volume of 1,792,577. Flywire Corporation has a twelve month low of $9.97 and a twelve month high of $18.05. The firm’s 50 day moving average is $12.84 and its two-hundred day moving average is $13.18. The stock has a market cap of $2.09 billion, a PE ratio of 74.91, a PEG ratio of 1.33 and a beta of 1.30.

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, topping the consensus estimate of $0.03 by $0.07. Flywire had a net margin of 4.45% and a return on equity of 3.82%. The company had revenue of $184.00 million for the quarter, compared to analysts’ expectations of $170.24 million. During the same quarter in the previous year, the company posted ($0.03) EPS. The business’s revenue was up 40.9% compared to the same quarter last year. Equities research analysts anticipate that Flywire Corporation will post 0.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Flywire

A number of large investors have recently made changes to their positions in FLYW. CIBC Private Wealth Group LLC acquired a new stake in shares of Flywire during the third quarter worth approximately $1,253,000. GDS Wealth Management lifted its position in Flywire by 9.0% in the 3rd quarter. GDS Wealth Management now owns 1,039,320 shares of the company’s stock worth $14,072,000 after buying an additional 85,411 shares in the last quarter. BlueCrest Capital Management Ltd purchased a new stake in Flywire in the 3rd quarter worth approximately $1,354,000. Jennison Associates LLC boosted its stake in shares of Flywire by 35.2% during the 4th quarter. Jennison Associates LLC now owns 4,420,633 shares of the company’s stock valued at $62,596,000 after buying an additional 1,150,802 shares during the period. Finally, Advisory Research Inc. purchased a new position in shares of Flywire during the 3rd quarter valued at $1,575,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FLYW. BTIG Research lifted their price target on Flywire from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday. The Goldman Sachs Group reiterated a “neutral” rating and issued a $17.00 target price on shares of Flywire in a report on Wednesday. Royal Bank Of Canada boosted their price target on shares of Flywire from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. UBS Group raised their price objective on shares of Flywire from $14.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Raymond James Financial reiterated an “outperform” rating and set a $21.00 price objective on shares of Flywire in a research report on Wednesday. Eight investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Flywire has a consensus rating of “Moderate Buy” and an average target price of $18.17.

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.