Insider Selling: Flywire Co. (NASDAQ:FLYW) Director Sells 5,000 Shares of Stock

Flywire Co. (NASDAQ:FLYW - Get Free Report) Director Edwin J. Santos sold 5,000 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $10.50, for a total transaction of $52,500.00. Following the completion of the sale, the director now directly owns 16,990 shares of the company's stock, valued at approximately $178,395. This trade represents a 22.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Flywire Stock Down 0.8%

Flywire stock traded down $0.09 during midday trading on Thursday, reaching $10.79. 2,460,556 shares of the stock traded hands, compared to its average volume of 1,841,006. The stock has a market cap of $1.31 billion, a P/E ratio of 71.93, a PEG ratio of 1.41 and a beta of 1.27. The stock's fifty day moving average is $9.97 and its 200-day moving average is $14.71. Flywire Co. has a 12 month low of $8.20 and a 12 month high of $23.40.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FLYW. Versor Investments LP bought a new stake in shares of Flywire during the 4th quarter worth approximately $1,118,000. Y Intercept Hong Kong Ltd boosted its position in Flywire by 345.3% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 96,029 shares of the company's stock valued at $1,980,000 after acquiring an additional 74,465 shares in the last quarter. Sei Investments Co. grew its position in shares of Flywire by 38.4% in the 4th quarter. Sei Investments Co. now owns 110,144 shares of the company's stock worth $2,271,000 after buying an additional 30,572 shares during the last quarter. Vanguard Group Inc. grew its stake in Flywire by 6.9% during the 4th quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company's stock worth $249,238,000 after buying an additional 781,711 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its stake in Flywire by 99.7% in the 4th quarter. New York State Common Retirement Fund now owns 220,625 shares of the company's stock worth $4,549,000 after purchasing an additional 110,124 shares in the last quarter. Institutional investors own 95.90% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wolfe Research restated a "peer perform" rating on shares of Flywire in a research note on Wednesday, April 23rd. UBS Group downgraded Flywire from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $25.00 to $15.00 in a research report on Wednesday, February 26th. Citigroup dropped their price objective on Flywire from $26.00 to $13.00 and set a "buy" rating for the company in a research note on Monday, March 24th. B. Riley reiterated a "buy" rating and set a $17.00 target price (down previously from $29.00) on shares of Flywire in a research report on Friday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft cut Flywire from a "buy" rating to a "hold" rating and lowered their price target for the stock from $26.00 to $16.00 in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $15.15.

Flywire Company Profile

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.