Flywire (NASDAQ:FLYW) Director Sells $77,150.00 in Stock

Flywire Corporation (NASDAQ:FLYW) Director Phillip John Riese sold 5,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $15.43, for a total value of $77,150.00. Following the transaction, the director owned 234,493 shares in the company, valued at approximately $3,618,226.99. This represents a 2.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Phillip John Riese also recently made the following trade(s):

• On Wednesday, May 6th, Phillip John Riese sold 37,921 shares of Flywire stock. The shares were sold at an average price of $16.87, for a total value of $639,727.27.

Flywire Trading Down 1.2%

Shares of Flywire stock opened at $14.40 on Friday. The firm has a market cap of $1.78 billion, a P/E ratio of 62.61, a P/E/G ratio of 0.99 and a beta of 1.34. Flywire Corporation has a 12 month low of $10.09 and a 12 month high of $18.05. The stock’s fifty day moving average price is $14.22 and its 200-day moving average price is $13.52.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.03 by $0.07. The firm had revenue of $184.00 million for the quarter, compared to analyst estimates of $170.24 million. Flywire had a return on equity of 3.78% and a net margin of 4.45%.The business’s revenue for the quarter was up 40.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.03) earnings per share. Analysts forecast that Flywire Corporation will post 0.42 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FLYW. Deutsche Bank Aktiengesellschaft raised Flywire to an “outperform” rating in a research report on Wednesday, May 27th. BTIG Research raised their price objective on Flywire from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. raised Flywire from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $14.00 to $16.00 in a research report on Thursday, May 21st. Weiss Ratings raised Flywire from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Finally, UBS Group raised their price objective on Flywire from $14.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.07.

Institutional Investors Weigh In On Flywire

Institutional investors have recently added to or reduced their stakes in the business. Essential Partners LLC boosted its holdings in Flywire by 219.1% in the first quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock worth $27,000 after acquiring an additional 1,571 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in Flywire in the fourth quarter worth about $32,000. KBC Group NV acquired a new stake in Flywire in the first quarter worth about $38,000. Leonteq Securities AG boosted its holdings in Flywire by 267.6% in the first quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock worth $41,000 after acquiring an additional 2,577 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted 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 worth $66,000 after acquiring an additional 2,497 shares in the last quarter. Institutional investors and hedge funds own 95.90% of the company’s stock.

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.