Insider Selling: Flywire Co. (NASDAQ:FLYW) CEO Sells $349,896.78 in Stock

Flywire Co. (NASDAQ:FLYW – Get Rating) CEO Michael Massaro sold 11,457 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $30.54, for a total value of $349,896.78. Following the sale, the chief executive officer now directly owns 1,197,022 shares in the company, valued at $36,557,051.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Michael Massaro also recently made the following trade(s):

• On Tuesday, April 11th, Michael Massaro sold 25,790 shares of Flywire stock. The stock was sold at an average price of $28.70, for a total value of $740,173.00.
• On Monday, April 3rd, Michael Massaro sold 27,138 shares of Flywire stock. The stock was sold at an average price of $29.11, for a total value of $789,987.18.
• On Tuesday, March 28th, Michael Massaro sold 24,296 shares of Flywire stock. The stock was sold at an average price of $27.31, for a total value of $663,523.76.
• On Monday, March 13th, Michael Massaro sold 4,166 shares of Flywire stock. The stock was sold at an average price of $24.04, for a total value of $100,150.64.

Flywire Stock Performance

Shares of Flywire stock opened at $30.99 on Friday. Flywire Co. has a one year low of $14.56 and a one year high of $31.35. The company has a market cap of $3.43 billion, a price-to-earnings ratio of -103.30 and a beta of 1.15. The business’s 50 day moving average price is $28.66 and its 200 day moving average price is $25.47.

Flywire (NASDAQ:FLYW – Get Rating) last posted its earnings results on Tuesday, February 28th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.10. The company had revenue of $73.05 million during the quarter, compared to analysts’ expectations of $65.50 million. Flywire had a negative return on equity of 6.89% and a negative net margin of 10.30%. The firm’s quarterly revenue was up 42.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.11) earnings per share. On average, analysts predict that Flywire Co. will post -0.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Flywire

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MCF Advisors LLC acquired a new stake in Flywire during the third quarter worth $30,000. Assetmark Inc. increased its stake in Flywire by 170.2% during the third quarter. Assetmark Inc. now owns 1,332 shares of the company’s stock worth $31,000 after acquiring an additional 839 shares during the last quarter. UBS Group AG acquired a new stake in Flywire during the third quarter worth $36,000. Fifth Third Bancorp acquired a new stake in Flywire during the fourth quarter worth $38,000. Finally, CWM LLC grew its stake in shares of Flywire by 69.2% in the fourth quarter. CWM LLC now owns 1,577 shares of the company’s stock valued at $39,000 after buying an additional 645 shares in the last quarter. Institutional investors and hedge funds own 79.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on FLYW. Wells Fargo & Company increased their price target on Flywire from $30.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 1st. Morgan Stanley initiated coverage on Flywire in a research report on Monday, January 23rd. They issued an “equal weight” rating and a $26.00 target price on the stock. The Goldman Sachs Group raised their target price on Flywire from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, April 13th. Bank of America raised their target price on Flywire from $32.00 to $36.00 in a research report on Wednesday, May 10th. Finally, Stephens raised their target price on Flywire from $32.00 to $34.00 in a research report on Wednesday, May 10th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $32.00.

About Flywire

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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.