Insider Selling: Flywire Co. (NASDAQ:FLYW) Director Sells 90,427 Shares
Flywire Co. (NASDAQ:FLYW – Get a rating) Director Jo Natauri sold 90,427 Flywire shares in a trade on Tuesday, May 17. The shares were sold at an average price of $19.16, for a total value of $1,732,581.32. Following the sale, the administrator now directly owns 3,130,987 shares of the company, valued at approximately $59,989,710.92. The sale was disclosed in a legal filing with the SEC, which is available via this link.
Shares of NASDAQ FLYW traded down $0.18 during the midday session on Thursday, reaching $18.71. The company had a trading volume of 1,860,630 shares, compared to an average volume of 781,861. Flywire Co. has a 1-year low of $16.30 and a 1-year high of $57.41. The company has a current ratio of 4.53, a quick ratio of 3.78 and a debt ratio of 0.05. The stock has a market capitalization of $2.00 billion and a PE ratio of -38.98. The company has a 50-day moving average price of $27.44 and a two-hundred-day moving average price of $31.76.
Flywire (NASDAQ:FLYW – Get a rating) last released its quarterly results on Tuesday, May 10. The company reported ($0.10) earnings per share for the quarter, missing analyst consensus estimates of ($0.03) by ($0.07). Flywire had a negative net margin of 13.72% and a negative return on equity of 4.11%. The company posted revenue of $64.55 million for the quarter, versus $56.83 million expected by analysts. In the same quarter of the previous year, the company posted EPS of ($0.41). The company’s quarterly revenue increased by 43.5% compared to the same quarter last year. On average, research analysts expect Flywire Co. to post -0.29 EPS for the current year.
Several stock analysts have recently released reports on the company. Sumitomo Mitsui Financial Group took over Flywire’s coverage in a Wednesday, April 13 research report. They set an “outperform” rating and a price target of $40.00 on the stock. Royal Bank of Canada lowered its price target on Flywire from $51.00 to $44.00 and set an “outperform” rating for the stock in a research report Thursday, March 3. Raymond James lowered his price target on Flywire from $39.00 to $33.00 in a research report on Wednesday, May 11. Goldman Sachs Group lowered its price target on Flywire from $44.00 to $37.00 and set a “neutral” rating on the stock in a Friday, April 8 research report. To finish, Zacks Investment Research upgraded Flywire from a “hold” rating to a “strong sell” rating in a Thursday, May 12 research report. One analyst has assigned the stock a sell rating, another has issued a hold rating, ten has assigned a buy rating and one has assigned the company’s stock a high buy rating. Based on data from MarketBeat, the stock has an average buy rating and an average target price of $40.83.
Hedge funds have recently changed their holdings in the company. FourThought Financial LLC acquired a new stake in Flywire during the third quarter at a value of $54,000. Rockefeller Capital Management LP acquired a new stake in Flywire during the third quarter at a value of $56,000. Citigroup Inc. acquired a new stake in Flywire during the third quarter at a value of $60,000. UBS Group AG increased its position in Flywire by 433.1% during the first quarter. UBS Group AG now owns 3,300 shares of the company valued at $101,000 after buying 2,681 additional shares in the last quarter. Finally, Metropolitan Life Insurance Co NY acquired a new stake in Flywire during the third quarter at a value of $156,000. Institutional investors and hedge funds own 76.06% of the company’s shares.
About Flywire (Get a rating)
Flywire Corporation, together with its subsidiaries, operates as a software and payment assistance company in the United States, Canada and the United Kingdom, as well as internationally. Its payment platform and network, along with its vertical software, helps customers get paid and helps their customers pay.
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