Michael G. Ellis Sells 10,000 Shares of Flywire Co. (NASDAQ:FLYW) Stock

Flywire Co. (NASDAQ:FLYWGet Rating) CFO Michael G. Ellis sold 10,000 shares of the stock in a transaction on Monday, September 12th. The shares were sold at an average price of $27.30, for a total transaction of $273,000.00. Following the completion of the sale, the chief financial officer now directly owns 149,291 shares of the company’s stock, valued at $4,075,644.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Flywire Trading Down 5.7 %

Shares of FLYW stock opened at $25.46 on Friday. Flywire Co. has a 12-month low of $14.56 and a 12-month high of $57.41. The company has a market capitalization of $2.76 billion, a P/E ratio of -72.74 and a beta of 1.68. The firm has a 50-day moving average price of $24.28 and a 200 day moving average price of $24.06. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.06.

Flywire (NASDAQ:FLYWGet Rating) last announced its quarterly earnings results on Tuesday, August 9th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.05). Flywire had a negative net margin of 14.98% and a negative return on equity of 7.37%. The firm had revenue of $56.40 million for the quarter, compared to the consensus estimate of $47.61 million. During the same period in the prior year, the business earned ($0.16) earnings per share. The company’s revenue for the quarter was up 52.4% on a year-over-year basis. Research analysts forecast that Flywire Co. will post -0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FLYW has been the subject of a number of research reports. Stephens initiated coverage on shares of Flywire in a report on Thursday, June 9th. They issued an “overweight” rating and a $24.00 price target for the company. Wells Fargo & Company raised their price objective on shares of Flywire from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, September 8th. Finally, The Goldman Sachs Group raised their price objective on shares of Flywire to $32.00 in a report on Monday, August 15th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $36.86.

Institutional Investors Weigh In On Flywire

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. D. E. Shaw & Co. Inc. acquired a new stake in Flywire in the 4th quarter valued at about $16,449,000. Rhumbline Advisers increased its position in Flywire by 500.5% in the 4th quarter. Rhumbline Advisers now owns 60,657 shares of the company’s stock valued at $2,309,000 after acquiring an additional 50,556 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Flywire in the 1st quarter valued at about $19,279,000. Millennium Management LLC increased its position in Flywire by 549.6% in the 4th quarter. Millennium Management LLC now owns 733,752 shares of the company’s stock valued at $27,927,000 after acquiring an additional 620,799 shares in the last quarter. Finally, Summit Partners Public Asset Management LLC acquired a new stake in Flywire in the 4th quarter valued at about $5,895,000. Institutional investors and hedge funds own 73.30% of the company’s stock.

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.

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