Insider Selling: Flywire Co. (NASDAQ:FLYW) Director Sells 5,000 Shares of Stock

Flywire Co. (NASDAQ:FLYW) Director Edwin J. Santos sold 5,000 shares of the company’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $10.50, for a total transaction of $52,500.00. Following the sale, the director now owns 16,990 shares of the company’s stock, valued at $178,395. This represents a 22.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Flywire Stock Down 2.2%

FLYW stock traded down $0.23 during midday trading on Monday, hitting $10.27. The company’s stock had a trading volume of 2,512,120 shares, compared to its average volume of 1,822,384. Flywire Co. has a 12 month low of $8.20 and a 12 month high of $23.40. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 68.47, a price-to-earnings-growth ratio of 1.41 and a beta of 1.27. The company has a 50 day moving average of $9.90 and a two-hundred day moving average of $14.85.

Flywire (NASDAQ:FLYW) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.02. Flywire had a net margin of 4.23% and a return on equity of 2.49%. The firm had revenue of $128.70 million for the quarter, compared to analysts’ expectations of $124.18 million. During the same quarter last year, the business posted ($0.05) earnings per share. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. On average, analysts anticipate that Flywire Co. will post 0.14 earnings per share for the current fiscal year.

Institutional Trading of Flywire

Hedge funds have recently bought and sold shares of the stock. Versor Investments LP bought a new position in shares of Flywire during the 4th quarter valued at about $1,118,000. Y Intercept Hong Kong Ltd lifted its position in shares of Flywire by 345.3% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 96,029 shares of the company’s stock worth $1,980,000 after buying an additional 74,465 shares in the last quarter. Sei Investments Co. boosted its stake in Flywire by 38.4% during the fourth quarter. Sei Investments Co. now owns 110,144 shares of the company’s stock valued at $2,271,000 after buying an additional 30,572 shares during the last quarter. Vanguard Group Inc. grew its holdings in Flywire by 6.9% during the 4th quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company’s stock valued at $249,238,000 after buying an additional 781,711 shares in the last quarter. Finally, New York State Common Retirement Fund grew its holdings in Flywire by 99.7% during the 4th quarter. New York State Common Retirement Fund now owns 220,625 shares of the company’s stock valued at $4,549,000 after buying an additional 110,124 shares in the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on FLYW shares. Wells Fargo & Company dropped their price objective on Flywire from $16.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, May 7th. Stephens downgraded shares of Flywire from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $26.00 to $15.00 in a research report on Wednesday, February 26th. The Goldman Sachs Group lifted their target price on shares of Flywire from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $9.00 target price (down previously from $16.00) on shares of Flywire in a research note on Monday, April 14th. Finally, UBS Group downgraded shares of Flywire from a “buy” rating to a “neutral” rating and reduced their price target for the company from $25.00 to $15.00 in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Flywire currently has a consensus rating of “Hold” and a consensus price target of $15.15.

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.