Insider Selling: Flywire Co. (NASDAQ:FLYW) Director Sells 5,000 Shares of Stock

Flywire Co. (NASDAQ:FLYW) Director Edwin J. Santos sold 5,000 shares of Flywire stock in a transaction on Friday, June 6th. The stock was sold at an average price of $10.50, for a total transaction of $52,500.00. Following the completion of the transaction, the director now directly owns 16,990 shares of the company’s stock, valued at $178,395. The trade was a 22.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Flywire Price Performance

NASDAQ FLYW traded down $0.23 during midday trading on Monday, hitting $10.27. 2,512,120 shares of the company traded hands, compared to its average volume of 1,822,384. Flywire Co. has a 52 week low of $8.20 and a 52 week high of $23.40. The company’s 50-day simple moving average is $9.90 and its 200-day simple moving average is $14.85. The company has a market cap of $1.25 billion, a PE ratio of 68.47, a price-to-earnings-growth ratio of 1.41 and a beta of 1.27.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. Flywire had a return on equity of 2.49% and a net margin of 4.23%. The company had revenue of $128.70 million for the quarter, compared to the consensus estimate of $124.18 million. During the same quarter last year, the company earned ($0.05) earnings per share. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. On average, research analysts predict that Flywire Co. will post 0.14 earnings per share for the current year.

Hedge Funds Weigh In On Flywire

Several institutional investors and hedge funds have recently modified their holdings of the stock. Arizona State Retirement System lifted its holdings in Flywire by 1.6% in the fourth quarter. Arizona State Retirement System now owns 32,215 shares of the company’s stock valued at $664,000 after acquiring an additional 513 shares during the period. Summit Investment Advisors Inc. increased its holdings in Flywire by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 12,634 shares of the company’s stock valued at $261,000 after buying an additional 802 shares in the last quarter. Dakota Wealth Management raised its position in shares of Flywire by 8.7% in the first quarter. Dakota Wealth Management now owns 13,334 shares of the company’s stock worth $127,000 after acquiring an additional 1,066 shares during the period. Bayesian Capital Management LP boosted its stake in shares of Flywire by 6.9% during the 4th quarter. Bayesian Capital Management LP now owns 20,059 shares of the company’s stock worth $414,000 after acquiring an additional 1,300 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Flywire by 3.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 43,858 shares of the company’s stock worth $417,000 after acquiring an additional 1,361 shares in the last quarter. Institutional investors and hedge funds own 95.90% of the company’s stock.

Analyst Ratings Changes

FLYW has been the subject of a number of analyst reports. Wolfe Research reaffirmed a “peer perform” rating on shares of Flywire in a report on Wednesday, April 23rd. Raymond James lowered Flywire from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from $29.00 to $17.00 in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft downgraded Flywire from a “buy” rating to a “hold” rating and cut their target price for the company from $26.00 to $16.00 in a research report on Wednesday, February 26th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $9.00 price target (down from $16.00) on shares of Flywire in a research report on Monday, April 14th. Finally, Royal Bank of Canada dropped their price objective on shares of Flywire from $20.00 to $17.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Flywire currently has an average rating of “Hold” and an average target price of $15.15.

About Flywire

Flywire Corporation, together with its subsidiaries, operates as a payments enablement and software company in the United States and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay. The company’s platform facilitates payment flows across multiple currencies, payment types, and payment options, as well as provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.