Flywire Co. (NASDAQ:FLYW) General Counsel Peter Butterfield Sells 5,523 Shares

Flywire Co. (NASDAQ:FLYW) General Counsel Peter Butterfield sold 5,523 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $10.08, for a total value of $55,671.84. Following the transaction, the general counsel now owns 247,561 shares in the company, valued at $2,495,414.88. The trade was a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Flywire Stock Up 2.6 %

FLYW stock opened at $10.08 on Thursday. The firm has a market cap of $1.25 billion, a PE ratio of 67.20, a P/E/G ratio of 1.41 and a beta of 1.17. The business has a 50 day moving average of $17.43 and a 200-day moving average of $18.44. Flywire Co. has a 12-month low of $8.62 and a 12-month high of $26.60.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). The business had revenue of $112.80 million during the quarter, compared to the consensus estimate of $118.85 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. On average, research analysts expect that Flywire Co. will post 0.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Royal Bank of Canada reduced their price target on shares of Flywire from $25.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Seaport Res Ptn downgraded Flywire from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. BTIG Research lowered Flywire from a “buy” rating to a “neutral” rating in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft cut Flywire from a “buy” rating to a “hold” rating and cut their target price for the stock from $26.00 to $16.00 in a report on Wednesday, February 26th. Finally, UBS Group lowered shares of Flywire from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $25.00 to $15.00 in a research note on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $19.23.

Institutional Trading of Flywire

A number of large investors have recently added to or reduced their stakes in FLYW. Curi RMB Capital LLC bought a new position in Flywire during the third quarter valued at $1,143,000. Quest Partners LLC lifted its position in shares of Flywire by 575.1% during the 3rd quarter. Quest Partners LLC now owns 14,622 shares of the company’s stock valued at $240,000 after buying an additional 12,456 shares during the last quarter. Avior Wealth Management LLC grew its stake in shares of Flywire by 17.0% during the 3rd quarter. Avior Wealth Management LLC now owns 23,647 shares of the company’s stock worth $388,000 after acquiring an additional 3,433 shares during the period. Jennison Associates LLC increased its holdings in Flywire by 5.3% in the 3rd quarter. Jennison Associates LLC now owns 2,226,750 shares of the company’s stock worth $36,496,000 after acquiring an additional 112,218 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its stake in Flywire by 15.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock valued at $66,000 after acquiring an additional 539 shares during the period. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Flywire Company Profile

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.