Peter Butterfield Sells 6,188 Shares of Flywire (NASDAQ:FLYW) Stock

Flywire Corporation (NASDAQ:FLYW) General Counsel Peter Butterfield sold 6,188 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $14.40, for a total transaction of $89,107.20. Following the transaction, the general counsel owned 658,680 shares in the company, valued at approximately $9,484,992. This trade represents a 0.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, May 7th, Peter Butterfield sold 1,480 shares of Flywire stock. The stock was sold at an average price of $18.02, for a total transaction of $26,669.60.

Flywire Stock Up 0.7%

FLYW stock opened at $14.23 on Thursday. The firm has a 50 day moving average of $14.36 and a 200 day moving average of $13.54. The stock has a market capitalization of $1.76 billion, a PE ratio of 61.87, a price-to-earnings-growth ratio of 0.97 and a beta of 1.34. Flywire Corporation has a 52 week low of $10.10 and a 52 week high of $18.05.

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

Hedge Funds Weigh In On Flywire

Several hedge funds and other institutional investors have recently bought and sold shares of FLYW. Mangrove Partners IM LLC acquired a new position in Flywire in the 3rd quarter worth approximately $39,289,000. Wellington Management Group LLP increased its holdings in Flywire by 173.3% in the 3rd quarter. Wellington Management Group LLP now owns 3,358,186 shares of the company’s stock worth $45,470,000 after buying an additional 2,129,514 shares during the period. Voss Capital LP increased its holdings in Flywire by 21.5% in the 4th quarter. Voss Capital LP now owns 11,750,000 shares of the company’s stock worth $166,380,000 after buying an additional 2,080,202 shares during the period. Jennison Associates LLC increased its holdings in Flywire by 35.2% in the 4th quarter. Jennison Associates LLC now owns 4,420,633 shares of the company’s stock worth $62,596,000 after buying an additional 1,150,802 shares during the period. Finally, Cooper Creek Partners Management LLC acquired a new position in Flywire in the 3rd quarter worth approximately $15,433,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on FLYW. Raymond James Financial reiterated an “outperform” rating and issued a $22.00 target price on shares of Flywire in a research note on Wednesday, May 27th. New Street Research set a $16.00 target price on shares of Flywire in a research note on Thursday, May 21st. JPMorgan Chase & Co. upgraded shares of Flywire from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $14.00 to $16.00 in a research note on Thursday, May 21st. Zacks Research upgraded Flywire from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 20th. Finally, Weiss Ratings upgraded Flywire from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $18.07.

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.