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 stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $14.40, for a total value of $89,107.20. Following the transaction, the general counsel directly owned 658,680 shares of the company’s stock, valued at $9,484,992. The trade was a 0.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

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

Flywire Stock Up 1.8%

Shares of Flywire stock traded up $0.25 during mid-day trading on Tuesday, reaching $14.13. 2,143,045 shares of the stock traded hands, compared to its average volume of 1,863,971. The business has a 50-day moving average of $14.25 and a 200 day moving average of $13.53. Flywire Corporation has a fifty-two week low of $10.10 and a fifty-two week high of $18.05. The stock has a market capitalization of $1.74 billion, a PE ratio of 61.43, a PEG ratio of 0.99 and a beta of 1.34.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. New Street Research set a $16.00 price target on Flywire in a report on Thursday, May 21st. BTIG Research increased their price target on Flywire from $17.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Wall Street Zen raised Flywire from a “hold” rating to a “buy” rating in a report on Sunday, May 24th. Citigroup increased their price target on Flywire from $13.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Finally, Royal Bank Of Canada increased their price target on Flywire from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Flywire presently has an average rating of “Moderate Buy” and an average price target of $18.07.

Institutional Investors Weigh In On Flywire

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC acquired a new stake in Flywire during the fourth quarter worth $32,000. Essential Partners LLC increased its stake in Flywire by 219.1% during 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 during the last quarter. KBC Group NV acquired a new stake in Flywire during the first quarter worth $38,000. Leonteq Securities AG increased its stake in Flywire by 267.6% during 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 during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in Flywire by 78.4% during 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 during 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.