Flywire (NASDAQ:FLYW) Director Phillip John Riese Sells 37,921 Shares

Key Points

• Director Phillip John Riese sold 37,921 Flywire shares at an average price of $16.87, totaling about $639,727 and reducing his ownership by 13.92%.
• Flywire reported better-than-expected Q1 earnings of $0.10 per share versus $0.03 estimated, with revenue of $184 million, up 40.9% year over year.
• Analysts remain cautiously positive: Flywire has a Moderate Buy consensus rating, with an average target price of $18.17, while shares recently traded near $17.23.

Flywire Corporation (NASDAQ:FLYW - Get Free Report) Director Phillip John Riese sold 37,921 shares of the company's stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $16.87, for a total transaction of $639,727.27. Following the completion of the transaction, the director owned 234,493 shares of the company's stock, valued at $3,955,896.91. This trade represents a 13.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Flywire Price Performance

Flywire stock traded down $0.50 during midday trading on Friday, hitting $17.23. 2,218,439 shares of the stock were exchanged, compared to its average volume of 1,792,577. Flywire Corporation has a 1 year low of $9.97 and a 1 year high of $18.05. The firm has a market cap of $2.09 billion, a P/E ratio of 74.91, a P/E/G ratio of 1.33 and a beta of 1.30. The company has a 50 day moving average price of $12.84 and a two-hundred day moving average price of $13.18.

Flywire (NASDAQ:FLYW - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.07. Flywire had a return on equity of 3.82% and a net margin of 4.45%.The company had revenue of $184.00 million during the quarter, compared to the consensus estimate of $170.24 million. During the same period last year, the firm earned ($0.03) earnings per share. The company's revenue was up 40.9% on a year-over-year basis. As a group, analysts predict that Flywire Corporation will post 0.38 EPS for the current year.

Institutional Trading of Flywire

Institutional investors have recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Flywire by 3.4% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 24,086 shares of the company's stock valued at $326,000 after acquiring an additional 800 shares in the last quarter. Royal Bank of Canada lifted its position in Flywire by 13.6% in the fourth quarter. Royal Bank of Canada now owns 9,025 shares of the company's stock worth $128,000 after purchasing an additional 1,081 shares during the period. Covestor Ltd boosted its stake in Flywire by 217.9% during the 3rd quarter. Covestor Ltd now owns 3,233 shares of the company's stock valued at $43,000 after purchasing an additional 2,216 shares in the last quarter. Global Retirement Partners LLC bought a new position in Flywire during the 4th quarter valued at $32,000. Finally, Daiwa Securities Group Inc. increased its position in shares of Flywire by 78.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company's stock valued at $66,000 after purchasing an additional 2,497 shares during the period. 95.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Flywire in a report on Tuesday, April 21st. Morgan Stanley lifted their target price on Flywire from $17.00 to $20.00 and gave the company an "overweight" rating in a research note on Wednesday. Royal Bank Of Canada increased their price target on Flywire from $18.00 to $20.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 25th. Citigroup boosted their price objective on Flywire from $13.00 to $16.00 and gave the company a "neutral" rating in a research report on Thursday. Finally, B. Riley Financial upped their price objective on Flywire from $15.00 to $20.00 and gave the stock a "buy" rating in a research note on Friday, January 9th. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $18.17.

About Flywire

Flywire Corp NASDAQ: FLYW is a global payments enablement and software company that specializes in facilitating complex cross-border transactions. Its cloud-based platform streamlines receivables and payer workflows across key verticals including education, healthcare, travel and hospitality, and commercial services. Flywire's technology integrates with institutional systems to automate payment posting, reconciliation and reporting, aiming to improve the payer experience and accelerate cash flow for its clients.

Founded in 2009 by entrepreneur Iker Marcaide as peerTransfer, the company rebranded as Flywire in 2015.

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