Flywire Co. (NASDAQ:FLYW) General Counsel Peter Butterfield Sells 376 Shares

Posted by Doug Madison on Mar 18th, 2023

Flywire Co. (NASDAQ:FLYW – Get Rating) General Counsel Peter Butterfield sold 376 shares of the company’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $27.01, for a total transaction of $10,155.76. Following the transaction, the general counsel now directly owns 123,705 shares of the company’s stock, valued at approximately $3,341,272.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

On Tuesday, March 14th, Peter Butterfield sold 3,626 shares of Flywire stock. The shares were sold at an average price of $26.40, for a total transaction of $95,726.40.
On Wednesday, March 1st, Peter Butterfield sold 3,370 shares of Flywire stock. The shares were sold at an average price of $27.04, for a total transaction of $91,124.80.
On Wednesday, February 22nd, Peter Butterfield sold 7,862 shares of Flywire stock. The shares were sold at an average price of $24.08, for a total transaction of $189,316.96.
On Friday, January 27th, Peter Butterfield sold 10,110 shares of Flywire stock. The shares were sold at an average price of $27.01, for a total transaction of $273,071.10.
On Wednesday, January 18th, Peter Butterfield sold 7,862 shares of Flywire stock. The shares were sold at an average price of $26.05, for a total transaction of $204,805.10.

Flywire Stock Performance

Flywire stock traded up $0.09 during trading hours on Friday, hitting $28.02. 1,335,083 shares of the stock were exchanged, compared to its average volume of 811,371. The stock has a market capitalization of $3.03 billion, a P/E ratio of -75.73 and a beta of 1.08. Flywire Co. has a 12 month low of $14.56 and a 12 month high of $32.88. The business’s 50-day moving average is $26.11 and its two-hundred day moving average is $23.69.

Flywire (NASDAQ:FLYW – Get Rating) last released its quarterly earnings results on Tuesday, February 28th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.10. Flywire had a negative net margin of 13.88% and a negative return on equity of 8.31%. The business had revenue of $73.05 million for the quarter, compared to analysts’ expectations of $65.50 million. During the same period in the prior year, the firm earned ($0.11) earnings per share. Flywire’s revenue was up 42.1% compared to the same quarter last year. On average, equities analysts predict that Flywire Co. will post -0.14 earnings per share for the current fiscal year.

Institutional Trading of Flywire

Several hedge funds have recently modified their holdings of FLYW. Envestnet Asset Management Inc. grew its stake in shares of Flywire by 52.2% during the first quarter. Envestnet Asset Management Inc. now owns 9,655 shares of the company’s stock valued at $295,000 after purchasing an additional 3,312 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Flywire by 27.4% during the first quarter. PNC Financial Services Group Inc. now owns 10,142 shares of the company’s stock valued at $309,000 after purchasing an additional 2,182 shares during the last quarter. MetLife Investment Management LLC grew its stake in shares of Flywire by 55.4% during the first quarter. MetLife Investment Management LLC now owns 34,947 shares of the company’s stock valued at $1,069,000 after purchasing an additional 12,461 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Flywire by 0.8% during the first quarter. Vanguard Group Inc. now owns 5,038,684 shares of the company’s stock valued at $154,082,000 after purchasing an additional 37,622 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Flywire during the first quarter valued at approximately $3,147,000. 79.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Citigroup upped their price objective on shares of Flywire from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, March 2nd. Truist Financial increased their price target on shares of Flywire from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, January 20th. Wells Fargo & Company increased their price target on shares of Flywire from $30.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 1st. Morgan Stanley started coverage on shares of Flywire in a research report on Monday, January 23rd. They issued an “equal weight” rating and a $26.00 price target for the company. Finally, Wolfe Research increased their price target on shares of Flywire from $28.00 to $29.00 in a research report on Thursday, January 5th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Flywire presently has a consensus rating of “Buy” and an average target price of $31.00.

Flywire Company Profile

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Flywire Corporation, together with its subsidiaries, operates as a payment enablement and software company in the United States, Canada, and the United Kingdom, and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay.