Peter Butterfield Sells 9,009 Shares of Flywire (NASDAQ:FLYW) Stock

Key Points

• Peter Butterfield, Flywire's general counsel, sold 9,009 shares on March 5 at an average price of $13.05 for about $117,567, reducing his stake by 1.66% to 532,962 shares valued at roughly $6.96 million.
• Flywire beat expectations for the quarter, reporting an unusually large EPS of $105.55 versus a consensus of ($0.01) and revenue of $157.54 million, up 34% year-over-year.
• The stock traded up 2.1% to $13.56 on heavy volume, the company has a $1.64 billion market cap, and analyst coverage is mixed with an average rating of Hold and an average price target of $15.58.

Flywire Corporation (NASDAQ:FLYW - Get Free Report) General Counsel Peter Butterfield sold 9,009 shares of the stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $13.05, for a total value of $117,567.45. Following the completion of the sale, the general counsel owned 532,962 shares of the company's stock, valued at $6,955,154.10. The trade was a 1.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, January 7th, Peter Butterfield sold 13,327 shares of Flywire stock. The shares were sold at an average price of $15.01, for a total value of $200,038.27.
• On Tuesday, December 9th, Peter Butterfield sold 8,120 shares of Flywire stock. The stock was sold at an average price of $13.69, for a total value of $111,162.80.

Flywire Trading Up 2.1%

NASDAQ:FLYW traded up $0.28 on Monday, hitting $13.56. 2,868,304 shares of the company's stock traded hands, compared to its average volume of 1,720,366. The company has a market cap of $1.64 billion, a PE ratio of 135.61, a price-to-earnings-growth ratio of 1.16 and a beta of 1.28. Flywire Corporation has a 1 year low of $8.20 and a 1 year high of $15.25. The firm has a 50-day moving average price of $12.79 and a 200-day moving average price of $13.27.

Flywire (NASDAQ:FLYW - Get Free Report) last released its earnings results on Tuesday, February 24th. The company reported $105.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.01) by $105.56. The company had revenue of $157.54 million during the quarter, compared to the consensus estimate of $144.96 million. Flywire had a net margin of 2.17% and a return on equity of 2.76%. The company's revenue was up 34.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.12) EPS. On average, research analysts forecast that Flywire Corporation will post 0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Global Retirement Partners LLC bought a new position in shares of Flywire in the 4th quarter valued at approximately $32,000. Covestor Ltd boosted its position in Flywire by 217.9% during the third quarter. Covestor Ltd now owns 3,233 shares of the company's stock worth $43,000 after purchasing an additional 2,216 shares during the period. Daiwa Securities Group Inc. grew its holdings in Flywire by 78.4% during the second 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 last quarter. State of Alaska Department of Revenue bought a new position in shares of Flywire in the third quarter valued at approximately $67,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Flywire in the second quarter valued at approximately $119,000. Institutional investors and hedge funds own 95.90% of the company's stock.

Wall Street Analysts Forecast Growth

FLYW has been the subject of a number of recent research reports. Truist Financial cut their price target on Flywire from $17.00 to $16.00 and set a "buy" rating for the company in a research note on Tuesday, March 3rd. Wall Street Zen raised Flywire from a "hold" rating to a "buy" rating in a research note on Saturday, February 28th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Flywire in a research report on Thursday, January 22nd. Zacks Research upgraded shares of Flywire from a "strong sell" rating to a "hold" rating in a research note on Wednesday, November 19th. Finally, Citigroup decreased their target price on shares of Flywire from $15.00 to $13.00 and set a "neutral" rating for the company in a research report on Thursday, February 26th. Six equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $15.58.

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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