Flywire Co. (NASDAQ:FLYW) CEO Michael Massaro Sells 8,629 Shares

Flywire Co. (NASDAQ:FLYW) CEO Michael Massaro sold 8,629 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total transaction of $155,667.16. Following the transaction, the chief executive officer now owns 1,739,351 shares in the company, valued at approximately $31,377,892.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Flywire Price Performance

FLYW stock opened at $17.54 on Friday. Flywire Co. has a 1-year low of $15.19 and a 1-year high of $33.65. The business has a 50-day moving average price of $17.57 and a 200 day moving average price of $19.76. The company has a market capitalization of $2.18 billion, a P/E ratio of -159.45, a PEG ratio of 6.69 and a beta of 0.98.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.01). Flywire had a negative net margin of 1.85% and a negative return on equity of 1.03%. The business had revenue of $103.68 million during the quarter, compared to the consensus estimate of $100.30 million. During the same quarter in the prior year, the firm posted ($0.15) EPS. The company’s revenue for the quarter was up 22.2% compared to the same quarter last year. On average, analysts anticipate that Flywire Co. will post 0.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FLYW has been the topic of several analyst reports. Wedbush reiterated a “neutral” rating and set a $18.00 price target on shares of Flywire in a report on Thursday, May 23rd. Royal Bank of Canada reduced their price target on Flywire from $34.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Citigroup dropped their price objective on Flywire from $27.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. JPMorgan Chase & Co. increased their target price on Flywire from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Finally, The Goldman Sachs Group decreased their target price on Flywire from $32.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $25.92.

Institutional Trading of Flywire

A number of hedge funds have recently bought and sold shares of the stock. Truist Financial Corp increased its holdings in shares of Flywire by 6.2% in the 2nd quarter. Truist Financial Corp now owns 19,434 shares of the company’s stock valued at $319,000 after acquiring an additional 1,128 shares during the period. Point72 Asset Management L.P. bought a new position in Flywire in the second quarter worth about $12,642,000. Quarry LP purchased a new stake in shares of Flywire during the second quarter valued at about $26,000. Creative Planning bought a new stake in shares of Flywire in the 2nd quarter valued at about $356,000. Finally, Algert Global LLC purchased a new position in shares of Flywire in the 2nd quarter worth approximately $180,000. Hedge funds and other institutional investors own 95.90% of the company’s stock.

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.