Insider Selling: Flywire (NASDAQ:FLYW) COO Sells 125,000 Shares of Company Stock

Flywire Corporation (NASDAQ:FLYW) COO Rob Orgel sold 125,000 shares of Flywire stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $21.81, for a total transaction of $2,726,250.00. Following the completion of the sale, the chief operating officer directly owned 916,918 shares of the company’s stock, valued at approximately $19,997,981.58. This trade represents a 12.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Flywire Stock Up 3.7%

FLYW traded up $0.80 during mid-day trading on Friday, reaching $22.27. 2,403,248 shares of the company traded hands, compared to its average volume of 1,885,575. The stock has a market capitalization of $2.71 billion, a P/E ratio of 37.12, a P/E/G ratio of 0.89 and a beta of 1.32. The company’s fifty day moving average price is $18.72 and its 200-day moving average price is $15.86. Flywire Corporation has a 52-week low of $10.55 and a 52-week high of $22.58.

Flywire (NASDAQ:FLYW) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.26. The firm had revenue of $250.30 million for the quarter, compared to analysts’ expectations of $233.25 million. Flywire had a return on equity of 9.25% and a net margin of 10.34%. The company’s revenue was up 25.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.23 EPS. As a group, sell-side analysts forecast that Flywire Corporation will post 0.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Flywire

Hedge funds and other institutional investors have recently modified their holdings of the stock. First Trust Advisors LP grew its holdings in Flywire by 68.9% during the third quarter. First Trust Advisors LP now owns 820,927 shares of the company’s stock valued at $14,366,000 after purchasing an additional 334,859 shares during the period. Voya Investment Management LLC increased its position in Flywire by 62.5% in the third quarter. Voya Investment Management LLC now owns 37,253 shares of the company’s stock worth $652,000 after buying an additional 14,330 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of Flywire by 13.4% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 78,261 shares of the company’s stock worth $1,370,000 after buying an additional 9,239 shares during the period. HighTower Advisors LLC bought a new position in shares of Flywire in the third quarter worth about $178,000. Finally, Russell Investments Group Ltd. raised its stake in shares of Flywire by 95.4% in the third quarter. Russell Investments Group Ltd. now owns 172,348 shares of the company’s stock worth $3,016,000 after buying an additional 84,165 shares during the period. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. BTIG Research increased their target price on Flywire from $20.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, November 4th. Royal Bank Of Canada restated an “outperform” rating and set a $25.00 price target on shares of Flywire in a research note on Wednesday, September 30th. Seaport Research Partners reaffirmed a “buy” rating and set a $22.00 price target on shares of Flywire in a research report on Monday, August 17th. Citigroup upped their price target on shares of Flywire from $19.00 to $23.00 and gave the company a “neutral” rating in a research report on Thursday, November 5th. Finally, Wolfe Research increased their price objective on shares of Flywire from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 25th. Seven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Flywire has an average rating of “Hold” and an average target price of $22.58.

Flywire Company Profile

Flywire Corporation is a global payments and software company that helps businesses and institutions manage domestic and cross-border payments. Its platform connects payment processing with organizations’ existing systems and supports multiple currencies and local payment methods. The company serves customers in sectors including education, healthcare, travel and business-to-business services. Its offerings help organizations collect payments from customers and manage related payment workflows, including international transactions.