Peter Butterfield Sells 12,156 Shares of Flywire (NASDAQ:FLYW) Stock

Key Points

• Flywire General Counsel Peter Butterfield sold 12,156 shares at an average price of $17.99, generating $218,686.44. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, leaving him with 601,022 shares.
• Flywire shares recently traded at $17.75, with a market capitalization of approximately $2.16 billion and a 52-week range of $10.55 to $19.73. The stock has risen above its 200-day moving average of $15.44.
• The company’s latest quarterly revenue rose 27.2% year over year to $163.8 million, exceeding estimates, although adjusted EPS of negative $0.07 missed expectations. Analysts maintain a consensus “Moderate Buy” rating with a $20.23 price target.

Flywire Corporation (NASDAQ:FLYW - Get Free Report) General Counsel Peter Butterfield sold 12,156 shares of the business's stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $17.99, for a total value of $218,686.44. Following the completion of the sale, the general counsel owned 601,022 shares in the company, valued at $10,812,385.78. This represents a 1.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Peter Butterfield also recently made the following trade(s):

• On Monday, June 15th, Peter Butterfield sold 6,528 shares of Flywire stock. The shares were sold at an average price of $15.08, for a total transaction of $98,442.24.

Flywire Price Performance

NASDAQ:FLYW traded down $0.01 on Thursday, reaching $17.75. 1,192,649 shares of the company's stock were exchanged, compared to its average volume of 1,941,931. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 68.27, a P/E/G ratio of 1.15 and a beta of 1.30. The stock has a fifty day simple moving average of $17.96 and a 200-day simple moving average of $15.44. Flywire Corporation has a 52 week low of $10.55 and a 52 week high of $19.73.

Flywire (NASDAQ:FLYW - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The business had revenue of $163.80 million during the quarter, compared to the consensus estimate of $156.47 million. Flywire had a net margin of 4.77% and a return on equity of 4.08%. The business's revenue for the quarter was up 27.2% on a year-over-year basis. During the same period last year, the firm earned ($0.10) EPS. As a group, sell-side analysts predict that Flywire Corporation will post 0.4 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on FLYW shares. Raymond James Financial reaffirmed an "outperform" rating and issued a $22.00 price target on shares of Flywire in a report on Wednesday, May 27th. New Street Research set a $16.00 price objective on Flywire in a research note on Thursday, May 21st. JPMorgan Chase & Co. raised Flywire from an "underweight" rating to a "neutral" rating and increased their price objective for the stock from $14.00 to $16.00 in a report on Thursday, May 21st. BTIG Research restated a "buy" rating on shares of Flywire in a research note on Thursday. Finally, Weiss Ratings raised Flywire from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, September 1st. Eight equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.23.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Nykredit A S purchased a new stake in shares of Flywire in the second quarter worth $29,000. Global Retirement Partners LLC bought a new stake in Flywire during the fourth quarter valued at $32,000. Essential Partners LLC grew its position in Flywire by 219.1% during the first quarter. Essential Partners LLC now owns 2,288 shares of the company's stock worth $27,000 after buying an additional 1,571 shares in the last quarter. KBC Group NV purchased a new position in Flywire during the first quarter worth about $38,000. Finally, Leonteq Securities AG increased its stake in Flywire by 267.6% in the 1st quarter. Leonteq Securities AG now owns 3,540 shares of the company's stock worth $41,000 after acquiring an additional 2,577 shares during the last quarter. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Flywire Company Profile

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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