Flywire Co. (NASDAQ:FLYW – Get a rating) top shareholder Bain Capital Venture Investors sold 1,240,490 shares of the company in a transaction dated Friday, June 3. The stock was sold at an average price of $19.60, for a total value of $24,313,604.00. Following the transaction, the insider now directly owns 15,299,374 shares of the company, valued at $299,867,730.40. The transaction was disclosed in a document filed with the SEC, accessible via this link. Major shareholders who own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Shares of NASDAQ FLYW traded down $0.26 during Tuesday’s trading, hitting $19.25. 1,042,930 shares of the company were traded, against an average volume of 826,048. The company has a market cap of $2.06 billion and a price-earnings ratio of -39.56. Flywire Co. has a 1-year low of $16.30 and a 1-year high of $57.41. The company’s fifty-day moving average price is $25.67 and its 200-day moving average price is $29.48. The company has a debt ratio of 0.05, a current ratio of 4.53 and a quick ratio of 4.53.
Flywire (NASDAQ:FLYW – Get a rating) last released its quarterly earnings data on Tuesday, May 10. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.07). Flywire had a negative return on equity of 4.11% and a negative net margin of 13.72%. The company posted revenue of $64.55 million in the quarter, compared to $56.83 million expected by analysts. In the same quarter of the previous year, the company made earnings per share ($0.41). Flywire’s quarterly revenue increased 43.5% year over year. On average, research analysts expect Flywire Co. to post -0.28 earnings per share for the current year.
A number of analysts have recently released reports on FLYW shares. Raymond James lowered his target price on Flywire from $39.00 to $33.00 in a Wednesday, May 11 research report. Goldman Sachs Group cut its price target on Flywire from $44.00 to $37.00 and set a “neutral” rating for the company in a Friday, April 8 report. Zacks Investment Research cut Flywire shares from a “held” rating to a “strong sell” rating in a Thursday, May 12, report. Wells Fargo & Company slashed its price target on Flywire shares from $41.00 to $36.00 in a Wednesday, May 11 report. Finally, Royal Bank of Canada reduced its price target on Flywire shares from $51.00 to $44.00 and set an “outperform” rating on the stock in a Thursday, March 3 report. One equity research analyst rated the stock with a sell rating, one assigned a hold rating, ten assigned a buy rating and one assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $40.83.
Major investors have recently increased or reduced their stakes in the company. FourThought Financial LLC bought a new position in Flywire in Q3 valued at around $54,000. Rockefeller Capital Management LP bought a new position in Flywire in Q3 worth around $56,000. Citigroup Inc. acquired a new position in Flywire stock during Q3 valued at approximately $60,000. UBS Group AG increased its stake in Flywire shares by 433.1% during the 1st quarter. UBS Group AG now owns 3,300 shares of the company valued at $101,000 after acquiring 2,681 additional shares in the last quarter. Finally, Metropolitan Life Insurance Co NY acquired a new stake in Flywire during Q3 worth approximately $156,000. Institutional investors hold 76.06% of the company’s shares.
Flywire Company Profile (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, help customers get paid and help their customers pay.
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