Key Points
- Flywire General Counsel Peter Butterfield sold 1,480 shares on May 7 at an average price of $18.02, for proceeds of about $26,670. After the sale, he still held 671,482 shares valued at roughly $12.1 million.
- Flywire reported better-than-expected quarterly results, posting EPS of $0.10 versus estimates of $0.03 and revenue of $184.0 million versus $170.24 million expected. Revenue climbed 40.9% year over year.
- Analyst sentiment remains positive overall, with eight Buy ratings and six Hold ratings and an average price target of $18.17. Recent firms adjusted targets between $16 and $21 while maintaining generally constructive ratings.
Flywire Corporation (NASDAQ:FLYW - Get Free Report) General Counsel Peter Butterfield sold 1,480 shares of the business's stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $18.02, for a total transaction of $26,669.60. Following the sale, the general counsel owned 671,482 shares of the company's stock, valued at $12,100,105.64. This trade represents a 0.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.
Peter Butterfield also recently made the following trade(s):
- On Thursday, March 5th, Peter Butterfield sold 9,009 shares of Flywire stock. The shares were sold at an average price of $13.05, for a total transaction of $117,567.45.
Flywire Trading Down 4.5%
Shares of FLYW stock opened at $16.46 on Tuesday. The firm has a market capitalization of $2.00 billion, a PE ratio of 71.57, a price-to-earnings-growth ratio of 1.29 and a beta of 1.30. The firm has a fifty day simple moving average of $13.00 and a two-hundred day simple moving average of $13.23. Flywire Corporation has a 12 month low of $9.97 and a 12 month high of $18.05.
Flywire (NASDAQ:FLYW - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.07. The business had revenue of $184.00 million during the quarter, compared to analyst estimates of $170.24 million. Flywire had a net margin of 4.45% and a return on equity of 3.78%. Flywire's quarterly revenue was up 40.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.03) EPS. On average, equities analysts predict that Flywire Corporation will post 0.39 earnings per share for the current fiscal year.
Analysts Set New Price Targets
FLYW has been the subject of a number of recent research reports. Stephens upgraded shares of Flywire from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $17.00 to $19.00 in a research note on Friday, January 16th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $17.00 target price on shares of Flywire in a research note on Wednesday, May 6th. Raymond James Financial reiterated an "outperform" rating and issued a $21.00 target price on shares of Flywire in a research note on Wednesday, May 6th. Royal Bank Of Canada upped their target price on shares of Flywire from $18.00 to $20.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 25th. Finally, Truist Financial reduced their target price on shares of Flywire from $17.00 to $16.00 and set a "buy" rating for the company in a research note on Tuesday, March 3rd. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $18.17.
Get Our Latest Research Report on Flywire
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the stock. Voss Capital LP raised its holdings in shares of Flywire by 21.5% in the 4th quarter. Voss Capital LP now owns 11,750,000 shares of the company's stock worth $166,380,000 after purchasing an additional 2,080,202 shares during the period. Jennison Associates LLC raised its holdings in shares of Flywire by 19.9% in the 1st quarter. Jennison Associates LLC now owns 5,298,881 shares of the company's stock worth $61,679,000 after purchasing an additional 878,248 shares during the period. Wellington Management Group LLP raised its holdings in shares of Flywire by 43.8% in the 4th quarter. Wellington Management Group LLP now owns 4,828,197 shares of the company's stock worth $68,367,000 after purchasing an additional 1,470,011 shares during the period. Mangrove Partners IM LLC raised its holdings in shares of Flywire by 2.8% in the 4th quarter. Mangrove Partners IM LLC now owns 2,984,076 shares of the company's stock worth $42,255,000 after purchasing an additional 82,383 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Flywire by 18.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,886,865 shares of the company's stock worth $21,962,000 after purchasing an additional 295,960 shares during the period. 95.90% of the stock is owned by institutional investors.
About Flywire
(
Get Free Report)
Flywire Corp (NASDAQ: FLYW) is a global payments enablement and software company that specializes in facilitating complex cross-border transactions. Its cloud-based platform streamlines receivables and payer workflows across key verticals including education, healthcare, travel and hospitality, and commercial services. Flywire's technology integrates with institutional systems to automate payment posting, reconciliation and reporting, aiming to improve the payer experience and accelerate cash flow for its clients.
Founded in 2009 by entrepreneur Iker Marcaide as peerTransfer, the company rebranded as Flywire in 2015.
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