Peter Butterfield Sells 5,523 Shares of Flywire Co. (NASDAQ:FLYW) Stock

Flywire Co. (NASDAQ:FLYW - Get Free Report) General Counsel Peter Butterfield sold 5,523 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $10.08, for a total transaction of $55,671.84. Following the completion of the sale, the general counsel now owns 247,561 shares in the company, valued at $2,495,414.88. This represents a 2.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Flywire Stock Performance

Shares of NASDAQ:FLYW traded up $0.42 on Friday, reaching $10.52. The company's stock had a trading volume of 506,682 shares, compared to its average volume of 2,476,149. Flywire Co. has a 52-week low of $8.62 and a 52-week high of $26.15. The company has a 50-day simple moving average of $17.23 and a 200 day simple moving average of $18.38. The company has a market cap of $1.30 billion, a P/E ratio of 70.03, a PEG ratio of 1.41 and a beta of 1.17.

Flywire (NASDAQ:FLYW - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.11). Flywire had a return on equity of 2.49% and a net margin of 4.23%. The firm had revenue of $112.80 million for the quarter, compared to analysts' expectations of $118.85 million. On average, equities research analysts forecast that Flywire Co. will post 0.14 EPS for the current fiscal year.

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Analysts Set New Price Targets

Several research firms have weighed in on FLYW. Raymond James downgraded shares of Flywire from a "strong-buy" rating to an "outperform" rating and decreased their price target for the stock from $29.00 to $17.00 in a research report on Wednesday, February 26th. Royal Bank of Canada decreased their price objective on shares of Flywire from $25.00 to $20.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. UBS Group downgraded shares of Flywire from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $25.00 to $15.00 in a research report on Wednesday, February 26th. The Goldman Sachs Group downgraded shares of Flywire from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $26.00 to $15.00 in a research report on Wednesday, February 26th. Finally, Citigroup decreased their price objective on shares of Flywire from $27.00 to $26.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $19.23.

Hedge Funds Weigh In On Flywire

A number of large investors have recently made changes to their positions in FLYW. Global Retirement Partners LLC purchased a new position in shares of Flywire during the 4th quarter worth about $30,000. Arcadia Investment Management Corp MI purchased a new stake in Flywire in the 4th quarter valued at about $48,000. Advisors Asset Management Inc. boosted its position in Flywire by 15.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company's stock valued at $66,000 after buying an additional 539 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Flywire in the 4th quarter valued at about $77,000. Finally, KBC Group NV boosted its position in Flywire by 64.0% in the 4th quarter. KBC Group NV now owns 4,899 shares of the company's stock valued at $101,000 after buying an additional 1,911 shares during the period. 95.90% of the stock is owned by hedge funds and other institutional investors.

About Flywire

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.