Michael Massaro Sells 50,000 Shares of Flywire (NASDAQ:FLYW) Stock

Flywire Corporation (NASDAQ:FLYW) CEO Michael Massaro sold 50,000 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $15.26, for a total transaction of $763,000.00. Following the transaction, the chief executive officer owned 2,678,051 shares in the company, valued at $40,867,058.26. The trade was a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Michael Massaro also recently made the following trade(s):

• On Wednesday, May 6th, Michael Massaro sold 50,000 shares of Flywire stock. The shares were sold at an average price of $16.39, for a total transaction of $819,500.00.

Flywire Trading Up 2.8%

FLYW stock opened at $15.85 on Friday. The firm has a 50-day moving average of $14.80 and a two-hundred day moving average of $13.61. Flywire Corporation has a 12 month low of $10.10 and a 12 month high of $18.05. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 68.91, a PEG ratio of 1.58 and a beta of 1.34.

Flywire (NASDAQ:FLYW) last issued its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.07. The business had revenue of $184.00 million for the quarter, compared to analysts’ expectations of $170.24 million. Flywire had a return on equity of 3.78% and a net margin of 4.45%.The business’s revenue for the quarter was up 40.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.03) EPS. As a group, equities analysts forecast that Flywire Corporation will post 0.28 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on FLYW. UBS Group upped their target price on Flywire from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. raised shares of Flywire from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $14.00 to $16.00 in a research report on Thursday, May 21st. Truist Financial upped their price objective on shares of Flywire from $16.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, May 19th. 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 report on Thursday, May 7th. Finally, Morgan Stanley lifted their target price 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. One equities 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 company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.07.

Institutional Investors Weigh In On Flywire

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Flywire by 3.4% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 24,086 shares of the company’s stock worth $326,000 after acquiring an additional 800 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of 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 purchasing an additional 1,081 shares during the last quarter. Essential Partners LLC lifted its stake in shares of 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 purchasing an additional 1,571 shares during the last quarter. Global Retirement Partners LLC purchased a new position in shares of Flywire during the 4th quarter worth $32,000. Finally, Daiwa Securities Group Inc. grew its holdings 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. Institutional investors and hedge funds own 95.90% of the company’s stock.

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.