Insider Selling: Flywire Co. (NASDAQ:FLYW) Director Sells 5,466 Shares of Stock

Flywire Co. (NASDAQ:FLYW) Director Edwin J. Santos sold 5,466 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $10.04, for a total value of $54,878.64. Following the completion of the sale, the director now owns 21,990 shares of the company’s stock, valued at $220,779.60. The trade was a 19.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Flywire Stock Up 1.1%

Shares of FLYW stock opened at $10.38 on Wednesday. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 69.20, a PEG ratio of 1.41 and a beta of 1.27. The business’s fifty day moving average is $9.93 and its 200 day moving average is $14.73. Flywire Co. has a twelve month low of $8.20 and a twelve month high of $23.40.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.02. The company had revenue of $128.70 million for the quarter, compared to analysts’ expectations of $124.18 million. Flywire had a return on equity of 2.49% and a net margin of 4.23%. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.05) earnings per share. Equities research analysts expect that Flywire Co. will post 0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Flywire

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FLYW. Raymond James Financial Inc. purchased a new stake in Flywire in the fourth quarter worth $35,579,000. Wellington Management Group LLP purchased a new stake in Flywire in the first quarter worth $15,782,000. Voss Capital LP purchased a new stake in shares of Flywire in the fourth quarter worth $30,621,000. Federated Hermes Inc. purchased a new stake in shares of Flywire in the first quarter worth $11,733,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Flywire in the fourth quarter worth $24,363,000. 95.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on FLYW shares. Wells Fargo & Company lowered their price objective on Flywire from $16.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 7th. Morgan Stanley lowered their price objective on Flywire from $21.00 to $15.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $9.00 price objective (down previously from $16.00) on shares of Flywire in a research report on Monday, April 14th. Citigroup decreased their target price on Flywire from $26.00 to $13.00 and set a “buy” rating for the company in a report on Monday, March 24th. Finally, Stephens downgraded Flywire from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $26.00 to $15.00 in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Flywire presently has a consensus 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.