Flywire Co. (NASDAQ:FLYW – Get a rating) major shareholder Bain Capital Venture Investors sold 1,653,986 shares of the company in a transaction on Monday, August 15. The stock was sold at an average price of $25.35, for a total transaction of $41,928,545.10. Following the completion of the sale, the insider now directly owns 13,645,388 shares of the company, valued at approximately $345,910,585.80. The sale was disclosed in a legal filing with the SEC, accessible via this link. Large shareholders who own 10% or more of a company’s stock are required to disclose their sales and purchases to the SEC.
Bain Capital Venture Investors also recently completed the following transactions:
- On Friday June 3, Bain Capital Venture Investors sold 1,240,490 shares of Flywire. The stock was sold at an average price of $19.60, for a total transaction of $24,313,604.00.
Flywire stock down 0.7%
FLYW stock opened at $26.96 on Friday. Flywire Co. has a 1-year low of $14.56 and a 1-year high of $57.41. The company has a debt ratio of 0.06, a quick ratio of 3.92 and a current ratio of 3.92. The company’s 50-day moving average price is $21.29 and its 200-day moving average price is $24.43. The company has a market capitalization of $2.89 billion, a PE ratio of -77.03 and a beta of 1.81.
Flywire (NASDAQ:FLYW – Get a rating) last reported results on Tuesday, August 9. The company reported ($0.22) earnings per share 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 company posted revenue of $56.40 million in the quarter, compared to analyst estimates of $47.61 million. In the same quarter last year, the company posted EPS of ($0.16). The company’s revenue for the quarter increased 52.4% year over year. On average, equity research analysts expect Flywire Co. to post -0.34 EPS for the current year.
Wall Street analysts predict growth
A number of research companies have recently published reports on FLYW. Goldman Sachs Group raised its target price on Flywire shares to $32.00 in a report on Monday. Wells Fargo & Company raised its price target on Flywire shares from $28.00 to $29.00 and gave the company an “overweight” rating in a Wednesday, Aug. 10 report. Stephens began covering Flywire shares in a research note on Thursday, June 9. They set an “overweight” rating and a target price of $24.00 on the stock. Finally, Raymond James cut his price target on Flywire shares from $39.00 to $33.00 in a Wednesday, May 11 report. Six equity research analysts gave the stock a buy rating and one gave the company a strong buy rating. According to data from MarketBeat, Flywire currently has a consensus rating of “Buy” and an average price target of $36.71.
Flywire Institutional Trading
Several institutional investors have recently increased or reduced their stake in the stock. Nisa Investment Advisors LLC increased its stake in Flywire shares by 226.6% in the second quarter. Nisa Investment Advisors LLC now owns 2,090 shares of the company worth $37,000 after acquiring an additional 1,450 shares in the last quarter. Premier Fund Managers Ltd increased its stake in Flywire shares by 141.1% in the second quarter. Premier Fund Managers Ltd now owns 115,781 shares in the company worth $42,000 after acquiring an additional 67,760 shares in the last quarter. FourThought Financial LLC increased its stake in Flywire shares by 123.3% in the first quarter. FourThought Financial LLC now owns 2,563 shares of the company worth $78,000 after acquiring 1,415 additional shares in the last quarter. Zurcher Kantonalbank Zurcher Kantonalbank acquired a new position in shares of Flywire in the second quarter worth $79,000. Finally, UBS Group AG increased its stake in Flywire shares by 433.1% in the first quarter. UBS Group AG now owns 3,300 shares of the company worth $101,000 after acquiring 2,681 additional shares last quarter. Institutional investors and hedge funds hold 76.06% of the company’s shares.
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, help customers get paid and help their customers pay.
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