Flywire Co. (NASDAQ:FLYW) General Counsel Sells $91,124.80 in Stock

Posted by MarketBeat News on Mar 6th, 2023

Flywire Co. (NASDAQ:FLYW – Get Rating) General Counsel Peter Butterfield sold 3,370 shares of the company’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $27.04, for a total value of $91,124.80. Following the sale, the general counsel now directly owns 65,088 shares of the company’s stock, valued at $1,759,979.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Peter Butterfield also recently made the following trade(s):

On Wednesday, February 22nd, Peter Butterfield sold 7,862 shares of Flywire stock. The shares were sold at an average price of $24.08, for a total value of $189,316.96.
On Friday, January 27th, Peter Butterfield sold 10,110 shares of Flywire stock. The stock was sold at an average price of $27.01, for a total value of $273,071.10.
On Wednesday, January 18th, Peter Butterfield sold 7,862 shares of Flywire stock. The stock was sold at an average price of $26.05, for a total value of $204,805.10.

Flywire Stock Up 5.1 %

FLYW opened at $27.64 on Monday. Flywire Co. has a fifty-two week low of $14.56 and a fifty-two week high of $32.88. The business has a 50-day moving average of $25.46 and a 200-day moving average of $23.59. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.44 and a quick ratio of 3.44. The company has a market capitalization of $2.99 billion, a PE ratio of -74.70 and a beta of 1.08.

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Flywire (NASDAQ:FLYW – Get Rating) last issued its quarterly earnings data on Tuesday, February 28th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.10. The business had revenue of $73.05 million for the quarter, compared to analyst estimates of $65.50 million. Flywire had a negative return on equity of 8.36% and a negative net margin of 13.88%. The firm’s revenue for the quarter was up 42.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.11) EPS. Equities research analysts forecast that Flywire Co. will post -0.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on FLYW shares. Wolfe Research increased their price objective on Flywire from $28.00 to $29.00 in a research note on Thursday, January 5th. Wells Fargo & Company increased their price objective on Flywire from $30.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 1st. The Goldman Sachs Group reduced their price objective on Flywire from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, November 9th. Stephens reduced their price objective on Flywire from $30.00 to $26.00 and set an “overweight” rating for the company in a research note on Wednesday, November 9th. Finally, Raymond James increased their price objective on Flywire from $28.00 to $33.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, January 4th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Flywire has an average rating of “Buy” and an average price target of $31.00.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FLYW. Envestnet Asset Management Inc. increased its holdings in shares of Flywire by 52.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 9,655 shares of the company’s stock valued at $295,000 after acquiring an additional 3,312 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Flywire by 27.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,142 shares of the company’s stock valued at $309,000 after acquiring an additional 2,182 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of Flywire by 55.4% during the 1st quarter. MetLife Investment Management LLC now owns 34,947 shares of the company’s stock valued at $1,069,000 after acquiring an additional 12,461 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Flywire by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 5,038,684 shares of the company’s stock valued at $154,082,000 after acquiring an additional 37,622 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Flywire in the 1st quarter valued at approximately $3,147,000. Institutional investors and hedge funds own 79.06% of the company’s stock.

Flywire Company Profile

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Flywire Corporation, together with its subsidiaries, operates as a payment enablement and software company in the United States, Canada, and the United Kingdom, and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay.