Flywire Co. (NASDAQ:FLYW) General Counsel Peter Butterfield Sells 1,769 Shares

Flywire Co. (NASDAQ:FLYW) General Counsel Peter Butterfield sold 1,769 shares of Flywire stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $31,912.76. Following the completion of the sale, the general counsel now directly owns 273,517 shares of the company’s stock, valued at approximately $4,934,246.68. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Flywire Trading Up 0.9 %

NASDAQ FLYW traded up $0.16 on Thursday, hitting $17.54. 676,353 shares of the company traded hands, compared to its average volume of 1,487,326. The business’s 50 day moving average price is $17.55 and its 200-day moving average price is $19.78. Flywire Co. has a 52-week low of $15.19 and a 52-week high of $33.65. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of -158.00, a P/E/G ratio of 6.69 and a beta of 0.98.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The company had revenue of $103.68 million for the quarter, compared to analysts’ expectations of $100.30 million. Flywire had a negative net margin of 1.85% and a negative return on equity of 1.03%. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.15) earnings per share. As a group, sell-side analysts predict that Flywire Co. will post 0.05 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FLYW shares. The Goldman Sachs Group reduced their price objective on Flywire from $32.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Wells Fargo & Company reduced their price target on shares of Flywire from $25.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. BTIG Research lowered their price objective on shares of Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Royal Bank of Canada cut their target price on shares of Flywire from $34.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Finally, UBS Group lowered their price target on Flywire from $34.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.92.

Hedge Funds Weigh In On Flywire

Large investors have recently added to or reduced their stakes in the company. Quarry LP bought a new stake in shares of Flywire during the 2nd quarter valued at $26,000. Headlands Technologies LLC bought a new position in Flywire in the 1st quarter worth $46,000. Quest Partners LLC purchased a new stake in Flywire in the 4th quarter worth $52,000. Advisors Asset Management Inc. raised its holdings in Flywire by 45.6% during the first quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company’s stock valued at $76,000 after acquiring an additional 954 shares during the period. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Flywire in the second quarter valued at about $64,000. 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.