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 company’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $17.99, for a total transaction of $218,686.44. Following the completion of the transaction, the general counsel owned 601,022 shares in the company, valued at approximately $10,812,385.78. This trade represents a 1.98% decrease in their ownership of the stock. The transaction was disclosed in a legal 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 transaction of $98,442.24.

Flywire Stock Performance

Flywire stock traded down $0.01 during mid-day trading on Thursday, hitting $17.75. 1,192,649 shares of the company traded hands, compared to its average volume of 1,941,931. Flywire Corporation has a one year low of $10.55 and a one year high of $19.73. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 68.27, a price-to-earnings-growth ratio of 1.15 and a beta of 1.30. The stock has a fifty day moving average price of $17.96 and a 200-day moving average price of $15.44.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). The company had revenue of $163.80 million during the quarter, compared to the consensus estimate of $156.47 million. Flywire had a return on equity of 4.08% and a net margin of 4.77%.Flywire’s quarterly revenue was up 27.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.10) EPS. Sell-side analysts predict that Flywire Corporation will post 0.4 EPS for the current year.

Hedge Funds Weigh In On Flywire

A number of large investors have recently added to or reduced their stakes in FLYW. Royal Bank of Canada increased its holdings in shares of Flywire by 13.6% in the fourth quarter. Royal Bank of Canada now owns 9,025 shares of the company’s stock worth $128,000 after buying an additional 1,081 shares during the period. Essential Partners LLC grew its position in 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 acquiring an additional 1,571 shares during the last quarter. Nykredit A S bought a new position in Flywire during the 2nd quarter worth approximately $29,000. Global Retirement Partners LLC purchased a new position in Flywire in the 4th quarter worth approximately $32,000. Finally, Allworth Financial LP increased its stake in Flywire by 126.8% in the 2nd quarter. Allworth Financial LP now owns 4,022 shares of the company’s stock worth $71,000 after purchasing an additional 2,249 shares during the period. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on FLYW shares. UBS Group increased their target price on Flywire from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Truist Financial lifted their price target on Flywire from $17.00 to $19.00 and gave the stock a “hold” rating in a research note on Friday, August 14th. BTIG Research reiterated a “buy” rating on shares of Flywire in a report on Thursday. Royal Bank Of Canada increased their price objective on Flywire from $20.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, August 31st. Finally, Wolfe Research raised their price objective on Flywire from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, August 25th. Eight investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Flywire currently has an average rating of “Moderate Buy” and a consensus target price of $20.23.

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.