Flywire Co. (NASDAQ:FLYW) Director Edwin J. Santos Sells 5,466 Shares

Flywire Co. (NASDAQ:FLYW - Get Free Report) Director Edwin J. Santos sold 5,466 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $10.04, for a total value of $54,878.64. Following the completion of the sale, the director now directly owns 21,990 shares in the company, valued at approximately $220,779.60. The trade was a 19.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Flywire Stock Performance

Shares of FLYW stock traded down $0.09 during mid-day trading on Thursday, hitting $10.79. The company's stock had a trading volume of 2,460,556 shares, compared to its average volume of 1,841,006. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 71.93, a PEG ratio of 1.41 and a beta of 1.27. Flywire Co. has a 52-week low of $8.20 and a 52-week high of $23.40. The business has a 50-day moving average price of $9.97 and a 200 day moving average price of $14.71.

Flywire (NASDAQ:FLYW - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.02. The business had revenue of $128.70 million during the quarter, compared to analyst estimates of $124.18 million. Flywire had a return on equity of 2.49% and a net margin of 4.23%. Flywire's revenue was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.05) EPS. Equities research analysts predict that Flywire Co. will post 0.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Stephens lowered shares of Flywire from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $26.00 to $15.00 in a research note on Wednesday, February 26th. Royal Bank of Canada decreased their target price on shares of Flywire from $20.00 to $17.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. BTIG Research lowered shares of Flywire from a "buy" rating to a "neutral" rating in a report on Wednesday, February 26th. Wells Fargo & Company cut their price target on Flywire from $16.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. Finally, B. Riley reaffirmed a "buy" rating and set a $17.00 price objective (down previously from $29.00) on shares of Flywire in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $15.15.

Hedge Funds Weigh In On Flywire

Institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC lifted its holdings in Flywire by 361.4% in the third quarter. Barclays PLC now owns 197,493 shares of the company's stock valued at $3,236,000 after acquiring an additional 154,694 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of Flywire during the 4th quarter valued at about $239,000. KBC Group NV lifted its stake in shares of Flywire by 64.0% in the 4th quarter. KBC Group NV now owns 4,899 shares of the company's stock worth $101,000 after purchasing an additional 1,911 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of Flywire in the fourth quarter worth approximately $104,000. Finally, Peregrine Capital Management LLC boosted its holdings in shares of Flywire by 20.7% in the fourth quarter. Peregrine Capital Management LLC now owns 490,749 shares of the company's stock worth $10,119,000 after buying an additional 84,040 shares during the last quarter. 95.90% of the stock is currently owned by hedge funds and other 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.