Insider Selling: Flywire (NASDAQ:FLYW) General Counsel Sells $218,686.44 in Stock

Flywire Corporation (NASDAQ:FLYW) General Counsel Peter Butterfield sold 12,156 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $17.99, for a total value of $218,686.44. Following the completion of the sale, the general counsel owned 601,022 shares of the company’s stock, valued at $10,812,385.78. The trade was a 1.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, June 15th, Peter Butterfield sold 6,528 shares of Flywire stock. The shares were sold at an average price of $15.08, for a total value of $98,442.24.

Flywire Stock Up 0.7%

Shares of Flywire stock opened at $17.87 on Friday. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 68.73, a PEG ratio of 1.14 and a beta of 1.30. The stock’s 50-day simple moving average is $17.93 and its 200-day simple moving average is $15.50. Flywire Corporation has a 52 week low of $10.55 and a 52 week high of $19.73.

Flywire (NASDAQ:FLYW) last released its earnings results on Tuesday, August 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.05). Flywire had a return on equity of 4.08% and a net margin of 4.77%.The business had revenue of $163.80 million for the quarter, compared to analysts’ expectations of $156.47 million. During the same quarter in the prior year, the business posted ($0.10) EPS. The business’s revenue for the quarter was up 27.2% compared to the same quarter last year. On average, equities analysts expect that Flywire Corporation will post 0.4 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on FLYW shares. JPMorgan Chase & Co. raised shares of Flywire from an “underweight” rating to a “neutral” rating and raised their target price for the company from $14.00 to $16.00 in a research note on Thursday, May 21st. Weiss Ratings upgraded shares of Flywire from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, September 1st. Raymond James Financial restated an “outperform” rating and set a $22.00 price objective on shares of Flywire in a research report on Wednesday, May 27th. Wolfe Research lifted their target price on Flywire from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, August 25th. Finally, Zacks Research cut Flywire from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. Eight research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Flywire currently has an average rating of “Moderate Buy” and an average price target of $20.23.

Institutional Trading of Flywire

A number of large investors have recently made changes to their positions in the business. Essential Partners LLC lifted its holdings 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 acquiring an additional 1,571 shares during the last quarter. Nykredit A S bought a new stake in Flywire during the second quarter worth approximately $29,000. Global Retirement Partners LLC bought a new stake in Flywire during the fourth quarter worth approximately $32,000. KBC Group NV purchased a new stake in Flywire during the first quarter valued at approximately $38,000. Finally, Leonteq Securities AG lifted its stake in shares of Flywire by 267.6% in the 1st quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock valued at $41,000 after purchasing an additional 2,577 shares during the last quarter. 95.90% of the stock is currently owned by institutional investors.

About Flywire

Flywire Corporation (NASDAQ: FLYW) is a global payments-enablement and software company that helps organizations accept, process and manage domestic and international payments. Its platform is designed to simplify complex payment workflows, support multiple currencies and payment methods, and provide customers with tools for reconciliation, reporting and payment tracking.

The company serves institutions and businesses in sectors including education, health care, travel and business-to-business payments.