Flywire Co. (NASDAQ:FLYW) CFO Sells $363,120.00 in Stock

Flywire Co. (NASDAQ:FLYW – Get Free Report) CFO Michael G. Ellis sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $30.26, for a total value of $363,120.00. Following the transaction, the chief financial officer now owns 226,459 shares of the company’s stock, valued at $6,852,649.34. The sale was disclosed in a legal filing with the SEC, which is available on the SEC website.

Flywire Stock Performance

NASDAQ:FLYW opened at $32.73 on Friday. The stock’s fifty day moving average is $30.68 and its 200 day moving average is $28.18. Flywire Co. has a fifty-two week low of $17.16 and a fifty-two week high of $33.39. The firm has a market capitalization of $3.63 billion, a PE ratio of -109.10 and a beta of 1.11.

Flywire (NASDAQ:FLYW – Get Free Report) last released its quarterly earnings results on Tuesday, May 9th. The company reported earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.02. Flywire had a negative return on equity of 6.89% and a negative net margin of 10.30%. The company had revenue of $89.10 million for the quarter, compared to analyst estimates of $82.69 million. Equities analysts forecast that Flywire Co. will post -0.14 EPS for the current year.

Institutional Trading of Flywire

Want More Great Investment Ideas?

A number of hedge funds and other institutional investors have recently bought and sold shares of FLYW. Fred Alger Management LLC increased its stake in Flywire by 438.7% in the first quarter. Fred Alger Management LLC now owns 2,456,799 shares of the company’s stock worth $72,132,000 after purchasing an additional 2,000,717 shares during the period. Vanguard Group Inc. increased its stake in Flywire by 29.0% in the third quarter. Vanguard Group Inc. now owns 7,281,361 shares of the company’s stock worth $167,179,000 after purchasing an additional 1,635,222 shares during the period. GW&K Investment Management LLC increased its stake in Flywire by 165.7% in the fourth quarter. GW&K Investment Management LLC now owns 2,178,521 shares of the company’s stock worth $53,309,000 after purchasing an additional 1,358,639 shares during the period. Schonfeld Strategic Advisors LLC increased its stake in Flywire by 2,255.5% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 1,353,373 shares of the company’s stock worth $33,117,000 after purchasing an additional 1,295,916 shares during the period. Finally, TimesSquare Capital Management LLC purchased a new stake in Flywire in the fourth quarter worth $24,705,000. Hedge funds and other institutional investors own 86.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FLYW shares. Bank of America upped their price target on Flywire from $32.00 to $36.00 in a research note on Wednesday, May 10th. Wells Fargo & Company upped their price target on Flywire from $39.00 to $41.00 in a research note on Friday, June 2nd. Stephens upped their price target on Flywire from $32.00 to $34.00 in a research note on Wednesday, May 10th. The Goldman Sachs Group upped their price target on Flywire from $30.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, April 13th. Finally, B. Riley initiated coverage on Flywire in a research note on Friday, June 23rd. They issued a “buy” rating and a $38.00 target price for the company. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $33.09.

About Flywire

(Get Free Report)

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; and provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.

Read More

Insider Buying and Selling by Quarter for Flywire (NASDAQ:FLYW)

Receive News & Ratings for Flywire Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Flywire and related companies with MarketBeat.com’s FREE daily email newsletter.