Key Points
- Flywire CEO Michael Massaro sold 50,000 shares on June 15 at an average price of $15.26, generating about $763,000. After the sale, he still held 2,678,051 shares.
- The sale came amid a recent dip in the stock, with Flywire trading down 2.8% to $15.42. The company remains near its 12-month range of $10.10 to $18.05.
- Flywire’s latest earnings beat expectations, reporting $0.10 EPS on revenue of $184 million, up 40.9% year over year. Analysts currently have a consensus “Moderate Buy” rating and an average price target of $18.07.
Flywire Corporation (NASDAQ:FLYW - Get Free Report) General Counsel Peter Butterfield sold 6,528 shares of the firm's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $15.08, for a total value of $98,442.24. Following the completion of the sale, the general counsel directly owned 652,152 shares of the company's stock, valued at $9,834,452.16. The trade was a 0.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Peter Butterfield also recently made the following trade(s):
- On Friday, June 5th, Peter Butterfield sold 6,188 shares of Flywire stock. The stock was sold at an average price of $14.40, for a total value of $89,107.20.
- On Thursday, May 7th, Peter Butterfield sold 1,480 shares of Flywire stock. The stock was sold at an average price of $18.02, for a total value of $26,669.60.
Flywire Price Performance
Flywire stock opened at $15.42 on Thursday. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of 67.04, a PEG ratio of 1.62 and a beta of 1.34. Flywire Corporation has a 1-year low of $10.10 and a 1-year high of $18.05. The business has a fifty day moving average price of $14.71 and a 200-day moving average price of $13.60.
Flywire (NASDAQ:FLYW - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.07. The firm had revenue of $184.00 million during the quarter, compared to analysts' expectations of $170.24 million. Flywire had a return on equity of 3.78% and a net margin of 4.45%.The business's quarterly revenue was up 40.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.03) EPS. On average, equities research analysts anticipate that Flywire Corporation will post 0.28 earnings per share for the current fiscal year.
Analyst Ratings Changes
FLYW has been the subject of a number of research analyst reports. Wall Street Zen upgraded Flywire from a "hold" rating to a "buy" rating in a research note on Sunday, May 24th. Deutsche Bank Aktiengesellschaft upgraded Flywire to an "outperform" rating in a research note on Wednesday, May 27th. Truist Financial raised their target price on Flywire from $16.00 to $18.00 and gave the stock a "buy" rating in a research note on Tuesday, May 19th. Morgan Stanley raised their target price on Flywire from $17.00 to $20.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Finally, Raymond James Financial restated an "outperform" rating and issued a $22.00 target price on shares of Flywire in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $18.07.
Check Out Our Latest Research Report on Flywire
Hedge Funds Weigh In On Flywire
A number of institutional investors have recently modified their holdings of FLYW. AQR Capital Management LLC purchased a new position in shares of Flywire during the 1st quarter valued at about $271,000. Millennium Management LLC raised its stake in shares of Flywire by 15.1% during the 1st quarter. Millennium Management LLC now owns 1,330,971 shares of the company's stock valued at $12,644,000 after buying an additional 175,007 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Flywire by 14.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,241,226 shares of the company's stock valued at $11,792,000 after buying an additional 159,239 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Flywire by 7.3% during the 2nd quarter. American Century Companies Inc. now owns 107,856 shares of the company's stock valued at $1,262,000 after buying an additional 7,357 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new position in shares of Flywire during the 2nd quarter valued at about $184,000. Hedge funds and other institutional investors 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.
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