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 business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $10.08, for a total transaction of $55,671.84. Following the transaction, the general counsel now owns 247,561 shares in the company, valued at approximately $2,495,414.88. This trade represents a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Flywire Stock Performance

FLYW stock traded up $0.26 during midday trading on Wednesday, reaching $10.08. 3,108,892 shares of the company’s stock traded hands, compared to its average volume of 2,507,364. Flywire Co. has a 52 week low of $8.62 and a 52 week high of $26.60. The company has a 50-day moving average price of $17.64 and a two-hundred day moving average price of $18.50. The firm has a market capitalization of $1.25 billion, a PE ratio of 67.20, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17.

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on FLYW shares. Morgan Stanley dropped their target price on shares of Flywire from $21.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. The Goldman Sachs Group lowered Flywire from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $26.00 to $15.00 in a report on Wednesday, February 26th. Raymond James downgraded Flywire from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from $29.00 to $17.00 in a research note on Wednesday, February 26th. UBS Group cut Flywire from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $25.00 to $15.00 in a research note on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Flywire from a “buy” rating to a “hold” rating and reduced their price target for the company from $26.00 to $16.00 in a research report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $19.23.

Hedge Funds Weigh In On Flywire

Several institutional investors have recently modified their holdings of FLYW. Global Retirement Partners LLC purchased a new position in shares of Flywire in the fourth quarter worth $30,000. Arcadia Investment Management Corp MI purchased a new stake in Flywire during the 4th quarter valued at $48,000. Advisors Asset Management Inc. grew its holdings 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 acquiring an additional 539 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Flywire during the fourth quarter valued at about $77,000. Finally, KBC Group NV increased its holdings in Flywire by 64.0% during the 4th quarter. KBC Group NV now owns 4,899 shares of the company’s stock valued at $101,000 after purchasing an additional 1,911 shares during the period. 95.90% of the stock is currently owned by institutional investors.

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.