Michael Massaro Sells 11,457 Shares of Flywire Co. (NASDAQ:FLYW) Stock

Flywire Co. (NASDAQ:FLYW – Get Rating) CEO Michael Massaro sold 11,457 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $30.54, for a total value of $349,896.78. Following the completion of the sale, the chief executive officer now directly owns 1,197,022 shares in the company, valued at $36,557,051.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, April 11th, Michael Massaro sold 25,790 shares of Flywire stock. The stock was sold at an average price of $28.70, for a total value of $740,173.00.
• On Monday, April 3rd, Michael Massaro sold 27,138 shares of Flywire stock. The stock was sold at an average price of $29.11, for a total value of $789,987.18.
• On Tuesday, March 28th, Michael Massaro sold 24,296 shares of Flywire stock. The stock was sold at an average price of $27.31, for a total value of $663,523.76.
• On Monday, March 13th, Michael Massaro sold 4,166 shares of Flywire stock. The stock was sold at an average price of $24.04, for a total value of $100,150.64.

Flywire Price Performance

Shares of NASDAQ:FLYW opened at $30.99 on Friday. The company has a market cap of $3.41 billion, a P/E ratio of -103.30 and a beta of 1.15. Flywire Co. has a 1 year low of $14.56 and a 1 year high of $31.35. The stock’s fifty day moving average price is $28.66 and its 200-day moving average price is $25.44.

Flywire (NASDAQ:FLYW – Get Rating) last announced its quarterly earnings results on Tuesday, February 28th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.10. The firm had revenue of $73.05 million for the quarter, compared to the consensus estimate of $65.50 million. Flywire had a negative return on equity of 6.89% and a negative net margin of 10.30%. The company’s quarterly revenue was up 42.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.11) earnings per share. On average, sell-side analysts anticipate that Flywire Co. will post -0.16 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FLYW. MCF Advisors LLC bought a new position in Flywire in the third quarter valued at about $30,000. Assetmark Inc. lifted its holdings in Flywire by 170.2% in the third quarter. Assetmark Inc. now owns 1,332 shares of the company’s stock valued at $31,000 after acquiring an additional 839 shares during the period. UBS Group AG bought a new position in Flywire in the third quarter valued at about $36,000. Fifth Third Bancorp bought a new position in Flywire in the fourth quarter valued at about $38,000. Finally, CWM LLC lifted its holdings in Flywire by 69.2% in the fourth quarter. CWM LLC now owns 1,577 shares of the company’s stock valued at $39,000 after acquiring an additional 645 shares during the period. Institutional investors own 79.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on FLYW. Stephens increased their target price on Flywire from $32.00 to $34.00 in a research note on Wednesday, May 10th. The Goldman Sachs Group increased their target price on Flywire from $30.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, April 13th. Citigroup increased their target price on Flywire from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, March 2nd. Morgan Stanley began coverage on Flywire in a research note on Monday, January 23rd. They issued an “equal weight” rating and a $26.00 target price on the stock. Finally, Bank of America increased their target price on Flywire from $32.00 to $36.00 in a research note on Wednesday, May 10th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $32.00.

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.