Flywire Corporation (NASDAQ:FLYW - Get Free Report) CEO Michael Massaro sold 50,000 shares of the company's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $15.26, for a total transaction of $763,000.00. Following the completion of the sale, the chief executive officer directly owned 2,678,051 shares of the company's stock, valued at $40,867,058.26. This represents a 1.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Wednesday, May 6th, Michael Massaro sold 50,000 shares of Flywire stock. The shares were sold at an average price of $16.39, for a total transaction of $819,500.00.

Flywire Trading Down 2.8%

Shares of FLYW opened at $15.42 on Thursday. Flywire Corporation has a 12-month low of $10.10 and a 12-month high of $18.05. The firm has a 50-day moving average price of $14.71 and a 200 day moving average price of $13.60. The firm has a market capitalization of $1.90 billion, a P/E ratio of 67.04, a P/E/G ratio of 1.62 and a beta of 1.34.

Flywire (NASDAQ:FLYW - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.07. Flywire had a net margin of 4.45% and a return on equity of 3.78%. The firm had revenue of $184.00 million during the quarter, compared to analyst estimates of $170.24 million. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. Flywire's quarterly revenue was up 40.9% on a year-over-year basis. Equities research analysts predict that Flywire Corporation will post 0.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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Several hedge funds have recently bought and sold shares of FLYW. Mangrove Partners IM LLC purchased a new position in Flywire during the third quarter worth about $39,289,000. Wellington Management Group LLP boosted its stake in shares of Flywire by 173.3% in the third quarter. Wellington Management Group LLP now owns 3,358,186 shares of the company's stock valued at $45,470,000 after purchasing an additional 2,129,514 shares during the period. Voss Capital LP boosted its stake in shares of Flywire by 21.5% in the fourth quarter. Voss Capital LP now owns 11,750,000 shares of the company's stock valued at $166,380,000 after purchasing an additional 2,080,202 shares during the period. Jennison Associates LLC boosted its stake in shares of Flywire by 35.2% in the fourth quarter. Jennison Associates LLC now owns 4,420,633 shares of the company's stock valued at $62,596,000 after purchasing an additional 1,150,802 shares during the period. Finally, Cooper Creek Partners Management LLC purchased a new position in shares of Flywire in the third quarter valued at approximately $15,433,000. Hedge funds and other institutional investors own 95.90% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Royal Bank Of Canada increased their target price on shares of Flywire from $18.00 to $20.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 25th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $17.00 target price on shares of Flywire in a research note on Wednesday, May 6th. Wall Street Zen raised shares of Flywire from a "hold" rating to a "buy" rating in a research note on Sunday, May 24th. Truist Financial increased their target price on shares of Flywire from $16.00 to $18.00 and gave the stock a "buy" rating in a research note on Tuesday, May 19th. Finally, UBS Group increased their target price on shares of Flywire from $14.00 to $18.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $18.07.

Get Our Latest Stock Analysis on Flywire

About Flywire

(Get Free Report)

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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