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

Flywire Corporation (NASDAQ:FLYW) CEO Michael Massaro sold 50,000 shares of the company’s stock in a transaction on Monday, June 15th. The shares were 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 of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $16.39, for a total transaction of $819,500.00.

Flywire Stock Performance

Shares of FLYW traded down $0.44 during trading hours on Wednesday, reaching $15.42. 1,793,421 shares of the company traded hands, compared to its average volume of 1,890,639. The stock’s fifty day moving average is $14.64 and its 200 day moving average is $13.59. The stock has a market cap of $1.90 billion, a P/E ratio of 67.04, a price-to-earnings-growth ratio of 1.05 and a beta of 1.34. Flywire Corporation has a 1-year low of $10.10 and a 1-year high of $18.05.

Flywire (NASDAQ:FLYW) last released its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.07. Flywire had a return on equity of 3.78% and a net margin of 4.45%.The business had revenue of $184.00 million for the quarter, compared to the consensus estimate of $170.24 million. During the same period last year, the business earned ($0.03) earnings per share. The firm’s revenue for the quarter was up 40.9% compared to the same quarter last year. On average, equities research analysts predict that Flywire Corporation will post 0.42 EPS for the current year.

Institutional Investors Weigh In On Flywire

A number of hedge funds have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC bought a new position in Flywire in the 4th quarter valued at $32,000. Essential Partners LLC grew its position in shares of Flywire by 219.1% during the 1st quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock worth $27,000 after buying an additional 1,571 shares during the period. KBC Group NV bought a new stake in shares of Flywire during the first quarter worth approximately $38,000. Leonteq Securities AG raised its stake in shares of 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 buying an additional 2,577 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in Flywire by 78.4% in the second quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock valued at $66,000 after buying an additional 2,497 shares during the period. Institutional investors own 95.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. upgraded Flywire from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $14.00 to $16.00 in a research report on Thursday, May 21st. Weiss Ratings upgraded shares of Flywire from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. Citigroup boosted their price target on shares of Flywire from $13.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. UBS Group increased their price objective on shares of Flywire from $14.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Finally, 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 report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.07.

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.