Michael Massaro Sells 13,043 Shares of Flywire Co. (NASDAQ:FLYW) Stock

Flywire Co. (NASDAQ:FLYW - Get Free Report) CEO Michael Massaro sold 13,043 shares of the firm's stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $24.07, for a total value of $313,945.01. Following the completion of the sale, the chief executive officer now owns 1,655,673 shares of the company's stock, valued at $39,852,049.11. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Michael Massaro also recently made the following trade(s):

• On Tuesday, March 19th, Michael Massaro sold 18,689 shares of Flywire stock. The shares were sold at an average price of $25.11, for a total value of $469,280.79.
• On Monday, March 4th, Michael Massaro sold 28,822 shares of Flywire stock. The shares were sold at an average price of $27.30, for a total value of $786,840.60.

Flywire Stock Performance

Flywire stock traded down $0.16 during mid-day trading on Friday, reaching $23.23. The company's stock had a trading volume of 622,164 shares, compared to its average volume of 1,528,616. The firm's fifty day moving average price is $24.19 and its two-hundred day moving average price is $24.65. The company has a market capitalization of $2.85 billion, a P/E ratio of -258.08, a PEG ratio of 9.29 and a beta of 1.02. Flywire Co. has a 12-month low of $18.65 and a 12-month high of $35.80.

Flywire (NASDAQ:FLYW - Get Free Report) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.01 EPS for the quarter, beating analysts' consensus estimates of ($0.08) by $0.09. The firm had revenue of $100.55 million during the quarter, compared to analyst estimates of $88.52 million. Flywire had a negative net margin of 2.13% and a negative return on equity of 1.35%. The business's revenue for the quarter was up 37.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.01) EPS. On average, research analysts predict that Flywire Co. will post 0.05 EPS for the current fiscal year.

Analyst Ratings Changes

FLYW has been the topic of several recent research reports. Truist Financial raised their price target on shares of Flywire from $30.00 to $39.00 and gave the company a "buy" rating in a research report on Wednesday, February 28th. Citigroup dropped their price target on shares of Flywire from $37.00 to $36.00 and set a "buy" rating on the stock in a research report on Thursday. Royal Bank of Canada raised their price target on shares of Flywire from $36.00 to $41.00 and gave the company an "outperform" rating in a research report on Wednesday, February 28th. UBS Group raised their price target on shares of Flywire from $33.00 to $34.00 and gave the company a "buy" rating in a research report on Wednesday, February 28th. Finally, Morgan Stanley cut shares of Flywire from an "overweight" rating to an "equal weight" rating and lifted their target price for the stock from $27.00 to $30.00 in a research report on Friday, March 1st. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $34.27.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northern Trust Corp grew its position in Flywire by 8.6% in the third quarter. Northern Trust Corp now owns 946,240 shares of the company's stock worth $30,176,000 after acquiring an additional 74,534 shares in the last quarter. Comerica Bank bought a new stake in Flywire in the third quarter worth $10,987,000. Barclays PLC lifted its stake in Flywire by 176.0% in the third quarter. Barclays PLC now owns 173,122 shares of the company's stock worth $5,522,000 after purchasing an additional 110,391 shares during the last quarter. Vanguard Group Inc. lifted its stake in Flywire by 13.8% in the third quarter. Vanguard Group Inc. now owns 10,517,763 shares of the company's stock worth $335,411,000 after purchasing an additional 1,278,646 shares during the last quarter. Finally, Monashee Investment Management LLC bought a new stake in Flywire in the third quarter worth $2,551,000. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

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.