Key Points
- Flywire General Counsel Peter Butterfield sold 6,188 shares on June 5 at an average price of $14.40, totaling $89,107.20. After the sale, he still held 658,680 shares valued at about $9.48 million.
- Flywire recently beat quarterly expectations, reporting EPS of $0.10 versus the $0.03 consensus estimate and revenue of $184.0 million versus $170.24 million expected. Revenue rose 40.9% year over year.
- Wall Street sentiment remains moderately positive, with an average rating of “Moderate Buy” and an average price target of $18.07. Analysts including JPMorgan, RBC, BTIG, and Raymond James have recently maintained or raised targets on the stock.
Flywire Corporation (NASDAQ:FLYW - Get Free Report) General Counsel Peter Butterfield sold 6,188 shares of the firm's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $14.40, for a total value of $89,107.20. Following the completion of the transaction, the general counsel owned 658,680 shares in the company, valued at $9,484,992. The trade was a 0.93% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Peter Butterfield also recently made the following trade(s):
- On Thursday, May 7th, Peter Butterfield sold 1,480 shares of Flywire stock. The shares were sold at an average price of $18.02, for a total value of $26,669.60.
Flywire Stock Performance
Shares of FLYW stock opened at $14.13 on Wednesday. The stock's fifty day moving average is $14.31 and its two-hundred day moving average is $13.53. The firm has a market capitalization of $1.74 billion, a P/E ratio of 61.43, a PEG ratio of 0.95 and a beta of 1.34. Flywire Corporation has a fifty-two week low of $10.10 and a fifty-two week high of $18.05.
Flywire (NASDAQ:FLYW - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.03 by $0.07. The company had revenue of $184.00 million for the quarter, compared to analyst estimates of $170.24 million. Flywire had a return on equity of 3.78% and a net margin of 4.45%.The firm's revenue for the quarter was up 40.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.03) EPS. On average, equities analysts forecast that Flywire Corporation will post 0.42 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on FLYW shares. JPMorgan Chase & Co. upgraded Flywire from an "underweight" rating to a "neutral" rating and lifted their price target for the stock from $14.00 to $16.00 in a report on Thursday, May 21st. Royal Bank Of Canada lifted their price target on Flywire from $18.00 to $20.00 and gave the stock an "outperform" rating in a report on Wednesday, February 25th. BTIG Research lifted their price target on Flywire from $17.00 to $20.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. New Street Research set a $16.00 price target on Flywire in a report on Thursday, May 21st. Finally, Raymond James Financial reiterated an "outperform" rating and set a $22.00 price target on shares of Flywire in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $18.07.
Get Our Latest Analysis on Flywire
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the stock. CIBC Private Wealth Group LLC acquired a new position in Flywire in the 3rd quarter valued at about $1,253,000. Jennison Associates LLC grew its position in shares of Flywire by 35.2% during the fourth quarter. Jennison Associates LLC now owns 4,420,633 shares of the company's stock worth $62,596,000 after buying an additional 1,150,802 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new position in shares of Flywire during the third quarter worth about $1,354,000. AlphaQuest LLC boosted its holdings in Flywire by 372.4% in the fourth quarter. AlphaQuest LLC now owns 105,448 shares of the company's stock valued at $1,493,000 after purchasing an additional 83,128 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its holdings in Flywire by 60.6% in the fourth quarter. First Eagle Investment Management LLC now owns 430,337 shares of the company's stock valued at $6,094,000 after purchasing an additional 162,348 shares in the last quarter. Institutional investors and hedge funds own 95.90% of the company's stock.
Flywire Company Profile
(
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
