Flywire Corp (NASDAQ:FLYW) CEO Michael Massaro has recently sold a total of 17,935 shares of the company's voting common stock, with the transactions valued at over $430,000. The sales occurred on April 3, 2024, and were disclosed in a regulatory filing with the Securities and Exchange Commission.
According to the filing, Massaro sold 13,043 shares directly and an additional 4,892 shares indirectly through the Michael P. Massaro 2021 Irrevocable Trust. The reported price for these transactions was a weighted average of $24.0746 per share. The shares were sold in multiple transactions at prices ranging from $24.00 to $24.165.
Following these transactions, Massaro still owns a substantial amount of Flywire stock, with 1,655,673 shares held directly and 307,548 shares held indirectly through the trust. It's important to note that Massaro disclaims beneficial ownership of the indirectly held shares, except to the extent of his pecuniary interest.
The recent filing provides insight into the trading activity of Flywire's CEO and may be of interest to investors monitoring insider transactions. Flywire, headquartered in Boston, Massachusetts, operates in the business services sector and is known for its global payment and receivables solutions.
InvestingPro Insights
Flywire Corp's (NASDAQ:FLYW) CEO Michael Massaro's recent share sale comes at a time when the company's market cap stands at $2.85 billion USD. While the CEO's transactions may suggest a rebalancing of personal investments, it is also valuable for investors to consider the company's financial health and future prospects. According to InvestingPro, Flywire's net income is expected to grow this year, indicating potential for an upswing in profitability which could be a positive signal for investors.
An analysis of Flywire's financials reveals a P/E ratio of -309.20, with the adjusted P/E ratio for the last twelve months as of Q4 2023 at -352.87. This negative P/E ratio is a reflection of the company's lack of profitability over the past year. However, analysts predict that Flywire will become profitable this year, which could be a turning point for the company's valuation. Furthermore, with a robust revenue growth of 39.3% for the last twelve months as of Q4 2023, Flywire demonstrates a strong capacity to increase its sales.
InvestingPro Tips also highlight that Flywire's liquid assets exceed its short-term obligations, a reassuring sign of the company's liquidity and ability to cover immediate liabilities. While Flywire does not pay a dividend, indicating that it is reinvesting earnings back into the company, investors might be interested in the company's growth potential and future profitability rather than current income.
For those looking to delve deeper into Flywire's financials and future outlook, InvestingPro offers additional insights. There are 4 more InvestingPro Tips available, which can be accessed through the dedicated page for Flywire at InvestingPro. Also, readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing even more value to those seeking comprehensive investment analysis.
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