Flywire Co. (NASDAQ:FLYW) CFO Michael G. Ellis Sells 6,500 Shares

Flywire Co. (NASDAQ:FLYW) CFO Michael G. Ellis sold 6,500 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $31.30, for a total value of $203,450.00. Following the transaction, the chief financial officer now owns 240,719 shares in the company, valued at $7,534,504.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Flywire Stock Performance

FLYW traded down $0.43 during trading on Tuesday, hitting $30.66. The stock had a trading volume of 694,173 shares, compared to its average volume of 1,029,728. Flywire Co. has a twelve month low of $17.16 and a twelve month high of $35.80. The firm has a market capitalization of $3.44 billion, a P/E ratio of -135.17 and a beta of 1.13. The company’s 50-day moving average price is $32.45 and its 200 day moving average price is $30.46.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings data on Tuesday, August 8th. The company reported ($0.15) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.15). Flywire had a negative return on equity of 5.35% and a negative net margin of 7.45%. The firm had revenue of $84.87 million for the quarter, compared to analyst estimates of $73.53 million. During the same quarter in the prior year, the company posted ($0.22) earnings per share. Flywire’s quarterly revenue was up 50.1% on a year-over-year basis. As a group, equities analysts expect that Flywire Co. will post -0.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FLYW has been the subject of several research reports. B. Riley began coverage on Flywire in a research report on Friday, June 23rd. They issued a “buy” rating and a $38.00 target price for the company. Truist Financial increased their target price on shares of Flywire from $35.00 to $40.00 in a report on Wednesday, July 19th. Citigroup upped their price objective on Flywire from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, August 10th. Stephens lifted their target price on Flywire from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Wednesday, August 9th. Finally, Royal Bank of Canada upped their price target on Flywire from $34.00 to $43.00 and gave the stock an “outperform” rating in a report on Wednesday, August 9th. One analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $36.69.

Institutional Trading of Flywire

Several large investors have recently modified their holdings of FLYW. California State Teachers Retirement System grew its holdings in Flywire by 121.9% in the 2nd quarter. California State Teachers Retirement System now owns 108,103 shares of the company’s stock valued at $3,356,000 after buying an additional 59,378 shares during the period. Legato Capital Management LLC acquired a new position in Flywire during the second quarter worth approximately $565,000. Nuveen Asset Management LLC raised its stake in Flywire by 2.4% during the second quarter. Nuveen Asset Management LLC now owns 1,174,296 shares of the company’s stock worth $36,450,000 after purchasing an additional 27,476 shares during the period. Castleark Management LLC boosted its holdings in shares of Flywire by 2.6% in the 2nd quarter. Castleark Management LLC now owns 227,120 shares of the company’s stock valued at $7,050,000 after purchasing an additional 5,760 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in Flywire by 47.1% during the second quarter. Wells Fargo & Company MN now owns 75,654 shares of the company’s stock valued at $2,348,000 after acquiring an additional 24,224 shares during the period. 92.55% of the stock is currently owned by institutional investors and hedge funds.

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; and provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.