Flywire Co. (NASDAQ:FLYW) Director Alex Finkelstein Sells 34,060 Shares

Flywire Co. (NASDAQ:FLYW – Get Rating) Director Alex Finkelstein sold 34,060 shares of the stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $29.50, for a total transaction of $1,004,770.00. Following the completion of the transaction, the director now directly owns 226,230 shares in the company, valued at approximately $6,673,785. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Flywire Stock Up 5.5 %

Shares of Flywire stock opened at $31.20 on Tuesday. The firm has a market capitalization of $3.43 billion, a P/E ratio of -104.00 and a beta of 1.15. The company has a 50 day moving average price of $28.34 and a 200 day moving average price of $25.25. Flywire Co. has a 52 week low of $14.56 and a 52 week high of $31.23.

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

Wall Street Analysts Forecast Growth

FLYW has been the topic of several recent research reports. The Goldman Sachs Group increased their target price on shares of Flywire from $30.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, April 13th. Bank of America increased their price target on shares of Flywire from $32.00 to $36.00 in a research report on Wednesday, May 10th. Stephens lifted their price target on shares of Flywire from $32.00 to $34.00 in a research report on Wednesday, May 10th. Truist Financial raised their price objective on shares of Flywire from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, January 20th. Finally, Wells Fargo & Company lifted their price target on shares of Flywire from $30.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 1st. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $32.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLYW. Envestnet Asset Management Inc. lifted its holdings in Flywire by 52.2% in the 1st 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 in the last quarter. PNC Financial Services Group Inc. raised its holdings in Flywire by 27.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,142 shares of the company’s stock valued at $309,000 after buying an additional 2,182 shares during the period. MetLife Investment Management LLC raised its holdings in Flywire by 55.4% in the 1st quarter. MetLife Investment Management LLC now owns 34,947 shares of the company’s stock valued at $1,069,000 after buying an additional 12,461 shares during the period. Vanguard Group Inc. increased its stake in Flywire by 0.8% during the first quarter. Vanguard Group Inc. now owns 5,038,684 shares of the company’s stock worth $154,082,000 after purchasing an additional 37,622 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in Flywire during the first quarter worth about $3,147,000. Hedge funds and other institutional investors own 79.06% 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.