Phillip John Riese Sells 16,612 Shares of Flywire (NASDAQ:FLYW) Stock

Flywire Corporation (NASDAQ:FLYW) Director Phillip John Riese sold 16,612 shares of Flywire stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $15.08, for a total transaction of $250,508.96. Following the completion of the sale, the director owned 234,493 shares in the company, valued at approximately $3,536,154.44. This represents a 6.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Phillip John Riese also recently made the following trade(s):

• On Tuesday, December 23rd, Phillip John Riese sold 367 shares of Flywire stock. The shares were sold at an average price of $15.00, for a total value of $5,505.00.
• On Wednesday, November 5th, Phillip John Riese sold 100 shares of Flywire stock. The stock was sold at an average price of $15.02, for a total value of $1,502.00.

Flywire Price Performance

Shares of Flywire stock opened at $14.62 on Friday. The firm has a market cap of $1.79 billion, a PE ratio of -730.63, a PEG ratio of 1.57 and a beta of 1.28. The stock has a 50 day moving average of $14.02 and a 200 day moving average of $13.03. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.02. Flywire Corporation has a 12 month low of $8.20 and a 12 month high of $21.31.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.04. Flywire had a positive return on equity of 0.80% and a negative net margin of 0.42%.The business had revenue of $194.10 million for the quarter, compared to analysts’ expectations of $180.07 million. During the same period in the prior year, the firm earned $0.30 EPS. The company’s revenue for the quarter was up 27.6% on a year-over-year basis. On average, research analysts expect that Flywire Corporation will post 0.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group upped their price objective on Flywire from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Stephens reiterated an “equal weight” rating and set a $13.00 price objective on shares of Flywire in a research report on Monday, September 22nd. Citigroup raised shares of Flywire to a “hold” rating in a research note on Thursday, October 23rd. B. Riley increased their price objective on shares of Flywire from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Flywire in a research report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Flywire has an average rating of “Hold” and a consensus price target of $15.19.

Institutional Investors Weigh In On Flywire

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Covestor Ltd grew its stake in Flywire by 217.9% in the 3rd quarter. Covestor Ltd now owns 3,233 shares of the company’s stock worth $43,000 after acquiring an additional 2,216 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Flywire by 194.9% in the second quarter. Nisa Investment Advisors LLC now owns 3,279 shares of the company’s stock valued at $38,000 after purchasing an additional 2,167 shares during the period. State of Alaska Department of Revenue purchased a new stake in shares of Flywire in the third quarter valued at approximately $67,000. Daiwa Securities Group Inc. grew its stake in Flywire by 78.4% in the second quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock worth $66,000 after purchasing an additional 2,497 shares in the last quarter. Finally, CWM LLC increased its holdings in Flywire by 850.9% during the 2nd quarter. CWM LLC now owns 6,447 shares of the company’s stock worth $75,000 after purchasing an additional 5,769 shares during the period. Institutional investors own 95.90% of the company’s stock.

About Flywire

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.