Insider Selling: Flywire (NASDAQ:FLYW) General Counsel Sells $26,669.60 in Stock

Flywire Corporation (NASDAQ:FLYW) General Counsel Peter Butterfield sold 1,480 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $18.02, for a total transaction of $26,669.60. Following the transaction, the general counsel owned 671,482 shares of the company’s stock, valued at $12,100,105.64. The trade was a 0.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Thursday, March 5th, Peter Butterfield sold 9,009 shares of Flywire stock. The stock was sold at an average price of $13.05, for a total transaction of $117,567.45.

Flywire Trading Down 5.0%

Shares of FLYW opened at $15.83 on Thursday. Flywire Corporation has a 12 month low of $9.97 and a 12 month high of $18.05. The firm has a fifty day simple moving average of $13.16 and a 200 day simple moving average of $13.27. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 68.83, a PEG ratio of 1.19 and a beta of 1.30.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, May 5th. The company reported $0.10 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 3.78%. The business had revenue of $184.00 million during the quarter, compared to analysts’ expectations of $170.24 million. During the same quarter in the prior year, the company posted ($0.03) earnings per share. The firm’s revenue was up 40.9% on a year-over-year basis. As a group, research analysts predict that Flywire Corporation will post 0.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Flywire

Several large investors have recently modified their holdings of FLYW. Global Retirement Partners LLC bought a new position in shares of Flywire in the fourth quarter valued at about $32,000. KBC Group NV bought a new position in Flywire during the first quarter worth about $38,000. Leonteq Securities AG increased 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 acquiring an additional 2,577 shares during the period. Covestor Ltd increased its position in Flywire by 217.9% during the third quarter. Covestor Ltd now owns 3,233 shares of the company’s stock worth $43,000 after acquiring an additional 2,216 shares during the period. Finally, Daiwa Securities Group Inc. increased 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 acquiring an additional 2,497 shares during the period. 95.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. UBS Group increased their target price on shares of Flywire from $14.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Stephens upgraded shares of Flywire from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $17.00 to $19.00 in a report on Friday, January 16th. Truist Financial reduced their target price on shares of Flywire from $17.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Citigroup increased their price target on shares of Flywire from $13.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, Weiss Ratings upgraded shares of Flywire from a “sell (d)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.