Flywire (NASDAQ:FLYW) General Counsel Peter Butterfield Sells 1,000 Shares of Stock

Flywire Corporation (NASDAQ:FLYW) General Counsel Peter Butterfield sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $15.00, for a total value of $15,000.00. Following the sale, the general counsel directly owned 393,522 shares in the company, valued at approximately $5,902,830. This represents a 0.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Flywire Price Performance

Shares of FLYW opened at $13.56 on Friday. The stock has a 50 day simple moving average of $13.28 and a 200 day simple moving average of $11.89. Flywire Corporation has a 52-week low of $8.20 and a 52-week high of $23.40. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.87 and a current ratio of 1.87. The firm has a market capitalization of $1.66 billion, a PE ratio of -677.66, a P/E/G ratio of 3.00 and a beta of 1.29.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, November 4th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.19 by $0.04. Flywire had a negative net margin of 0.42% and a positive return on equity of 0.80%. The firm had revenue of $194.10 million for the quarter, compared to the consensus estimate of $180.07 million. During the same period last year, the company posted $0.30 EPS. The business’s quarterly revenue was up 27.6% on a year-over-year basis. Sell-side analysts predict that Flywire Corporation will post 0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Flywire

A number of institutional investors have recently added to or reduced their stakes in FLYW. Covestor Ltd lifted its stake in Flywire by 217.9% in the third quarter. Covestor Ltd now owns 3,233 shares of the company’s stock valued at $43,000 after acquiring an additional 2,216 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Flywire by 194.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,279 shares of the company’s stock worth $38,000 after purchasing an additional 2,167 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Flywire in the 3rd quarter valued at about $67,000. Daiwa Securities Group Inc. lifted its stake in Flywire by 78.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock valued at $66,000 after purchasing an additional 2,497 shares during the last quarter. Finally, CWM LLC grew its holdings in Flywire by 850.9% during the second quarter. CWM LLC now owns 6,447 shares of the company’s stock worth $75,000 after purchasing an additional 5,769 shares during the period. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FLYW has been the topic of several research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Flywire in a research report on Wednesday, October 8th. Wolfe Research reissued an “outperform” rating and issued a $19.00 price target on shares of Flywire in a research note on Wednesday. Stephens restated an “equal weight” rating and issued a $13.00 price target on shares of Flywire in a report on Monday, September 22nd. Wall Street Zen upgraded Flywire from a “sell” rating to a “hold” rating in a report on Sunday, August 10th. Finally, Truist Financial boosted their target price on Flywire from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, October 24th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Flywire currently has a consensus rating of “Hold” and an average price target of $14.73.

About Flywire

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.