Peter Butterfield Sells 5,523 Shares of Flywire Co. (NASDAQ:FLYW) Stock

Flywire Co. (NASDAQ:FLYW) General Counsel Peter Butterfield sold 5,523 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $10.08, for a total value of $55,671.84. Following the transaction, the general counsel now directly owns 247,561 shares of the company’s stock, valued at approximately $2,495,414.88. This trade represents a 2.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Flywire Price Performance

NASDAQ:FLYW opened at $10.54 on Friday. The firm’s fifty day moving average price is $17.04 and its two-hundred day moving average price is $18.33. The company has a market cap of $1.30 billion, a P/E ratio of 70.27, a P/E/G ratio of 1.41 and a beta of 1.17. Flywire Co. has a one year low of $8.62 and a one year high of $26.15.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). The company had revenue of $112.80 million during the quarter, compared to analyst estimates of $118.85 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. As a group, equities research analysts expect that Flywire Co. will post 0.14 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on FLYW. UBS Group lowered shares of Flywire from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $25.00 to $15.00 in a research report on Wednesday, February 26th. BTIG Research downgraded shares of Flywire from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 26th. Seaport Res Ptn cut Flywire from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft lowered Flywire from a “buy” rating to a “hold” rating and dropped their target price for the stock from $26.00 to $16.00 in a report on Wednesday, February 26th. Finally, Citigroup decreased their price target on Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $19.23.

Institutional Trading of Flywire

Hedge funds have recently added to or reduced their stakes in the company. Curi RMB Capital LLC bought a new position in Flywire during the 3rd quarter worth $1,143,000. Quest Partners LLC grew its stake in shares of Flywire by 575.1% in the third quarter. Quest Partners LLC now owns 14,622 shares of the company’s stock valued at $240,000 after acquiring an additional 12,456 shares in the last quarter. Avior Wealth Management LLC grew its stake in shares of Flywire by 17.0% in the third quarter. Avior Wealth Management LLC now owns 23,647 shares of the company’s stock valued at $388,000 after acquiring an additional 3,433 shares in the last quarter. Jennison Associates LLC increased its position in Flywire by 5.3% during the third quarter. Jennison Associates LLC now owns 2,226,750 shares of the company’s stock worth $36,496,000 after acquiring an additional 112,218 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in Flywire by 15.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock worth $66,000 after purchasing an additional 539 shares in the last quarter. 95.90% of the stock is owned by institutional investors and hedge funds.

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.