Flywire (NASDAQ:FLYW) General Counsel Peter Butterfield Sells 12,156 Shares

Flywire Corporation (NASDAQ:FLYW) General Counsel Peter Butterfield sold 12,156 shares of Flywire stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $17.99, for a total transaction of $218,686.44. Following the transaction, the general counsel directly owned 601,022 shares in the company, valued at approximately $10,812,385.78. This trade represents a 1.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, June 15th, Peter Butterfield sold 6,528 shares of Flywire stock. The shares were sold at an average price of $15.08, for a total value of $98,442.24.

Flywire Stock Performance

FLYW stock opened at $17.75 on Friday. The firm has a market cap of $2.16 billion, a P/E ratio of 68.27, a price-to-earnings-growth ratio of 1.14 and a beta of 1.30. Flywire Corporation has a 1 year low of $10.55 and a 1 year high of $19.73. The stock has a 50-day simple moving average of $17.94 and a 200-day simple moving average of $15.49.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). Flywire had a net margin of 4.77% and a return on equity of 4.08%. The firm had revenue of $163.80 million for the quarter, compared to analysts’ expectations of $156.47 million. During the same quarter in the prior year, the business earned ($0.10) EPS. The company’s revenue for the quarter was up 27.2% on a year-over-year basis. On average, equities research analysts predict that Flywire Corporation will post 0.4 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Zacks Research downgraded Flywire from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. JPMorgan Chase & Co. raised Flywire from an “underweight” rating to a “neutral” rating and upped their price target for the company from $14.00 to $16.00 in a research report on Thursday, May 21st. Truist Financial raised their price objective on Flywire from $17.00 to $19.00 and gave the stock a “hold” rating in a research note on Friday, August 14th. BTIG Research reaffirmed a “buy” rating on shares of Flywire in a report on Thursday. Finally, Seaport Research Partners reiterated a “buy” rating and set a $22.00 target price on shares of Flywire in a research note on Monday, August 17th. Eight investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.23.

Institutional Trading of Flywire

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Voss Capital LP boosted its position in shares of Flywire by 21.5% during the 4th quarter. Voss Capital LP now owns 11,750,000 shares of the company’s stock valued at $166,380,000 after purchasing an additional 2,080,202 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Flywire by 1.2% in the 2nd quarter. Wellington Management Group LLP now owns 5,340,579 shares of the company’s stock worth $93,834,000 after purchasing an additional 64,998 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Flywire by 19.9% in the 1st quarter. Jennison Associates LLC now owns 5,298,881 shares of the company’s stock worth $61,679,000 after purchasing an additional 878,248 shares in the last quarter. Mangrove Partners IM LLC lifted its stake in Flywire by 2.8% during the fourth quarter. Mangrove Partners IM LLC now owns 2,984,076 shares of the company’s stock valued at $42,255,000 after purchasing an additional 82,383 shares during the last quarter. Finally, Wasatch Advisors LP acquired a new stake in Flywire during the second quarter valued at approximately $44,026,000. 95.90% of the stock is currently owned by institutional investors.

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.