Insider Selling: Flywire (NASDAQ:FLYW) CEO Sells $763,000.00 in Stock

Flywire Corporation (NASDAQ:FLYW) CEO Michael Massaro sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $15.26, for a total transaction of $763,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,678,051 shares of the company’s stock, valued at approximately $40,867,058.26. The trade was a 1.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Michael Massaro also recently made the following trade(s):

• On Wednesday, May 6th, Michael Massaro sold 50,000 shares of Flywire stock. The shares were sold at an average price of $16.39, for a total transaction of $819,500.00.

Flywire Price Performance

Flywire stock opened at $15.85 on Friday. The firm has a market cap of $1.96 billion, a PE ratio of 68.91, a price-to-earnings-growth ratio of 1.62 and a beta of 1.34. Flywire Corporation has a 52-week low of $10.10 and a 52-week high of $18.05. The company’s 50 day moving average is $14.88 and its two-hundred day moving average is $13.63.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.03 by $0.07. Flywire had a net margin of 4.45% and a return on equity of 3.78%. The company had revenue of $184.00 million during the quarter, compared to analysts’ expectations of $170.24 million. During the same quarter last year, the company posted ($0.03) EPS. The firm’s revenue was up 40.9% compared to the same quarter last year. On average, equities research analysts anticipate that Flywire Corporation will post 0.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on FLYW shares. Citigroup boosted their target price on Flywire from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Morgan Stanley increased their price target on Flywire from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft raised Flywire to an “outperform” rating in a research report on Wednesday, May 27th. Zacks Research upgraded shares of Flywire from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 20th. Finally, New Street Research set a $16.00 target price on shares of Flywire in a report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Flywire currently has a consensus rating of “Moderate Buy” and an average target price of $18.07.

Hedge Funds Weigh In On Flywire

Large investors have recently bought and sold shares of the business. Voss Capital LP lifted its holdings in Flywire by 21.5% during the 4th quarter. Voss Capital LP now owns 11,750,000 shares of the company’s stock worth $166,380,000 after buying an additional 2,080,202 shares during the last quarter. Jennison Associates LLC increased 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 valued at $61,679,000 after acquiring an additional 878,248 shares during the last quarter. Wellington Management Group LLP increased 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 valued at $68,367,000 after acquiring an additional 1,470,011 shares during the last quarter. Mangrove Partners IM LLC raised its position in shares of Flywire by 2.8% during the 4th quarter. Mangrove Partners IM LLC now owns 2,984,076 shares of the company’s stock worth $42,255,000 after acquiring an additional 82,383 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Flywire by 18.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,886,865 shares of the company’s stock worth $21,962,000 after acquiring an additional 295,960 shares in the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

About Flywire

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.