Flywire Co. (NASDAQ:FLYW) General Counsel Sells $55,671.84 in Stock

Flywire Co. (NASDAQ:FLYW) General Counsel Peter Butterfield sold 5,523 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $10.08, for a total value of $55,671.84. Following the completion of the sale, the general counsel now directly owns 247,561 shares in the company, valued at approximately $2,495,414.88. This represents a 2.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Flywire Stock Performance

Shares of NASDAQ:FLYW traded up $0.26 during midday trading on Wednesday, reaching $10.08. The company’s stock had a trading volume of 3,108,892 shares, compared to its average volume of 2,507,364. Flywire Co. has a fifty-two week low of $8.62 and a fifty-two week high of $26.60. The firm has a 50 day moving average price of $17.64 and a two-hundred day moving average price of $18.50. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 67.20, a PEG ratio of 1.41 and a beta of 1.17.

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

Institutional Trading of Flywire

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Global Retirement Partners LLC acquired a new position in shares of Flywire during the fourth quarter valued at about $30,000. Arcadia Investment Management Corp MI bought a new position in Flywire in the 4th quarter valued at about $48,000. Advisors Asset Management Inc. boosted its stake in Flywire by 15.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock valued at $66,000 after purchasing an additional 539 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Flywire during the 4th quarter worth approximately $77,000. Finally, KBC Group NV raised its stake in shares of Flywire by 64.0% in the fourth quarter. KBC Group NV now owns 4,899 shares of the company’s stock worth $101,000 after purchasing an additional 1,911 shares during the last quarter. Institutional investors own 95.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on FLYW. Deutsche Bank Aktiengesellschaft downgraded shares of Flywire from a “buy” rating to a “hold” rating and reduced their price target for the company from $26.00 to $16.00 in a research note on Wednesday, February 26th. Raymond James downgraded shares of Flywire from a “strong-buy” rating to an “outperform” rating and lowered their price target for the stock from $29.00 to $17.00 in a report on Wednesday, February 26th. Stephens downgraded 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 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. Finally, BTIG Research cut shares of Flywire from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $19.23.

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.