Insider Selling: Flywire Co. (NASDAQ:FLYW) Director Sells 5,466 Shares of Stock

Flywire Co. (NASDAQ:FLYW) Director Edwin J. Santos sold 5,466 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $10.04, for a total transaction of $54,878.64. Following the completion of the sale, the director now directly owns 21,990 shares of the company’s stock, valued at approximately $220,779.60. This trade represents a 19.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Flywire Trading Down 2.2%

FLYW stock traded down $0.23 during trading on Monday, hitting $10.27. The company had a trading volume of 2,512,120 shares, compared to its average volume of 1,822,384. The company has a fifty day moving average price of $9.90 and a two-hundred day moving average price of $14.85. Flywire Co. has a fifty-two week low of $8.20 and a fifty-two week high of $23.40. The company has a market cap of $1.25 billion, a P/E ratio of 68.47, a P/E/G ratio of 1.41 and a beta of 1.27.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. Flywire had a return on equity of 2.49% and a net margin of 4.23%. The company had revenue of $128.70 million during the quarter, compared to analysts’ expectations of $124.18 million. During the same period last year, the business earned ($0.05) earnings per share. The business’s revenue was up 17.0% on a year-over-year basis. On average, analysts expect that Flywire Co. will post 0.14 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on FLYW. Royal Bank of Canada cut their price objective on shares of Flywire from $20.00 to $17.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Wolfe Research restated a “peer perform” rating on shares of Flywire in a research note on Wednesday, April 23rd. UBS Group downgraded Flywire from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $25.00 to $15.00 in a research report on Wednesday, February 26th. Stephens lowered Flywire from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $26.00 to $15.00 in a report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft lowered Flywire from a “buy” rating to a “hold” rating and cut their target price for the company from $26.00 to $16.00 in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $15.15.

Hedge Funds Weigh In On Flywire

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Versor Investments LP acquired a new stake in shares of Flywire during the fourth quarter worth approximately $1,118,000. Y Intercept Hong Kong Ltd boosted its holdings in shares of Flywire by 345.3% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 96,029 shares of the company’s stock worth $1,980,000 after acquiring an additional 74,465 shares in the last quarter. Sei Investments Co. grew its position in Flywire by 38.4% during the 4th quarter. Sei Investments Co. now owns 110,144 shares of the company’s stock worth $2,271,000 after acquiring an additional 30,572 shares during the last quarter. Vanguard Group Inc. increased its holdings in Flywire by 6.9% during the 4th quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company’s stock valued at $249,238,000 after purchasing an additional 781,711 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position in Flywire by 99.7% in the 4th quarter. New York State Common Retirement Fund now owns 220,625 shares of the company’s stock valued at $4,549,000 after purchasing an additional 110,124 shares during the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.

About Flywire

Flywire Corporation, together with its subsidiaries, operates as a payments enablement and software company in the United States and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay. The company’s platform facilitates payment flows across multiple currencies, payment types, and payment options, as well as provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.