Flywire (NASDAQ:FLYW) General Counsel Peter Butterfield Sells 9,009 Shares

Flywire Corporation (NASDAQ:FLYW) General Counsel Peter Butterfield sold 9,009 shares of the stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $13.05, for a total transaction of $117,567.45. Following the sale, the general counsel owned 532,962 shares of the company’s stock, valued at $6,955,154.10. This trade represents a 1.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, January 7th, Peter Butterfield sold 13,327 shares of Flywire stock. The shares were sold at an average price of $15.01, for a total transaction of $200,038.27.
• On Tuesday, December 9th, Peter Butterfield sold 8,120 shares of Flywire stock. The stock was sold at an average price of $13.69, for a total transaction of $111,162.80.

Flywire Trading Up 2.1%

NASDAQ FLYW opened at $13.56 on Tuesday. Flywire Corporation has a 1-year low of $8.20 and a 1-year high of $15.25. The company has a 50 day moving average of $12.78 and a 200-day moving average of $13.28. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 135.61, a PEG ratio of 1.16 and a beta of 1.28.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, February 24th. The company reported $105.55 EPS for the quarter, topping the consensus estimate of ($0.01) by $105.56. Flywire had a return on equity of 2.76% and a net margin of 2.17%.The business had revenue of $157.54 million for the quarter, compared to the consensus estimate of $144.96 million. During the same period in the previous year, the business earned ($0.12) EPS. Flywire’s revenue was up 34.0% compared to the same quarter last year. On average, analysts forecast that Flywire Corporation will post 0.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FLYW. UBS Group decreased their target price on Flywire from $15.50 to $14.00 and set a “neutral” rating on the stock in a report on Wednesday, February 25th. Weiss Ratings reiterated a “sell (d)” rating on shares of Flywire in a research report on Thursday, January 22nd. Zacks Research raised shares of Flywire from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 19th. Morgan Stanley upgraded shares of Flywire from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $15.00 to $17.00 in a research report on Monday, March 2nd. Finally, The Goldman Sachs Group dropped their target price on shares of Flywire from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. Six analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $15.58.

Hedge Funds Weigh In On Flywire

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GDS Wealth Management raised its position in shares of Flywire by 9.0% in the 3rd quarter. GDS Wealth Management now owns 1,039,320 shares of the company’s stock valued at $14,072,000 after acquiring an additional 85,411 shares during the period. Walleye Capital LLC boosted its stake in Flywire by 206.0% during the 2nd quarter. Walleye Capital LLC now owns 462,665 shares of the company’s stock worth $5,413,000 after acquiring an additional 311,448 shares during the last quarter. Norges Bank acquired a new position in Flywire during the second quarter valued at approximately $2,334,000. First Eagle Investment Management LLC bought a new stake in Flywire in the second quarter valued at approximately $1,363,000. Finally, Pekin Hardy Strauss Inc. bought a new stake in Flywire in the second quarter valued at approximately $421,000. Institutional investors own 95.90% of the company’s stock.

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.