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Selling Buzz: Flywire Corp [FLYW] Chief Executive Officer Massaro Michael sells 13,043 shares of the company

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Flywire Corp shares valued at $314,005 were sold by Massaro Michael on Apr 03 ’24. At $24.07 per share, Massaro Michael sold 13,043 shares. The insider’s holdings dropped to 1,655,673 shares worth approximately $33.78 million following the completion of this transaction.

Also, Massaro Michael sold 4,892 shares, netting a total of over 117,773 in proceeds. Following the sale of shares at $24.07 each, the insider now holds 307,548 shares.

Before that, Massaro Michael had sold 16,828 shares from its account. In a trade valued at $421,651, the Chief Executive Officer traded Flywire Corp shares for $25.06 each. Upon closing the transaction, the insider’s holdings decreased to 16,828 shares, worth approximately $34.04 million.

As published in a research note from Morgan Stanley on March 01, 2024, Flywire Corp [FLYW] has been rated down from an Overweight to an Equal-weight and the price target has been revised to $30 from $27. Analysts at Deutsche Bank started covering the stock with ‘”a Buy”‘ outlook in a report released in early February. As of January 29, 2024, Morgan Stanley has increased its “an Equal-weight” rating to a “an Overweight” for FLYW. Earlier on January 23, 2024, Oppenheimer initiated its rating. Their recommendation was “an Outperform” for FLYW stock.

Analyzing FLYW Stock Performance

During the last five days, there has been a drop of approximately -3.45%. Over the course of the year, Flywire Corp shares have dropped approximately -11.88%. Shares of the company reached a 52-week high of $31.54 on 02/28/24 and a 52-week low of $19.36 on 01/19/24. A 50-day SMA is recorded $23.83, while a 200-day SMA reached $26.12. Nevertheless, trading volume fell to 1.47 million shares from 1.34 million shares the previous day.

Support And Resistance Levels for Flywire Corp (FLYW)

According to the 24-hour chart, there is a support level at 20.02, which, if violated, would cause prices to drop to 19.64. In the upper region, resistance lies at 20.95. The next price resistance is at 21.50. RSI (Relative Strength Index) is 33.41 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.32, which suggests the price will decrease in the coming days. Percent R is at 88.90%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

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