Insider Selling: Flywire (NASDAQ:FLYW) Insider Sells $126,507.70 in Stock

Flywire Corporation (NASDAQ:FLYW) insider Mohit Kansal sold 6,053 shares of the company’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $20.90, for a total transaction of $126,507.70. Following the completion of the transaction, the insider owned 472,271 shares in the company, valued at approximately $9,870,463.90. The trade was a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Flywire Stock Performance

Shares of Flywire stock opened at $21.57 on Monday. The firm has a market cap of $2.62 billion, a P/E ratio of 35.95, a P/E/G ratio of 1.37 and a beta of 1.32. The stock’s fifty day moving average price is $18.45 and its 200-day moving average price is $15.69. Flywire Corporation has a 12 month low of $10.55 and a 12 month high of $22.17.

Flywire (NASDAQ:FLYW) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.31 by $0.26. Flywire had a return on equity of 9.25% and a net margin of 10.34%. The firm had revenue of $250.30 million during the quarter, compared to analyst estimates of $233.25 million. During the same period in the previous year, the company posted $0.23 EPS. The business’s revenue for the quarter was up 25.1% compared to the same quarter last year. Analysts forecast that Flywire Corporation will post 0.40 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on FLYW shares. JPMorgan Chase & Co. raised their target price on Flywire from $20.00 to $23.00 and gave the company a “neutral” rating in a research report on Wednesday, November 4th. BTIG Research boosted their target price on shares of Flywire from $20.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday. Truist Financial upped their price target on Flywire from $17.00 to $19.00 and gave the company a “hold” rating in a research note on Friday, August 14th. Stephens initiated coverage on shares of Flywire in a research report on Friday, October 16th. They set an “equal weight” rating and a $20.00 price objective for the company. Finally, Citigroup raised their target price on Flywire from $19.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday. Seven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $22.27.

Institutional Trading of Flywire

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLYW. Russell Investments Group Ltd. boosted its position in shares of Flywire by 95.4% in the 3rd 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 in the last quarter. Fifth Third Bancorp grew its stake in Flywire by 4.2% in the 3rd quarter. Fifth Third Bancorp now owns 45,556 shares of the company’s stock valued at $797,000 after acquiring an additional 1,839 shares during the last quarter. Lisanti Capital Growth LLC purchased a new position in Flywire during the 3rd quarter valued at about $3,948,000. StoneX Group Inc. increased its holdings in Flywire by 12.7% during the 3rd quarter. StoneX Group Inc. now owns 31,701 shares of the company’s stock valued at $558,000 after acquiring an additional 3,561 shares in the last quarter. Finally, CenterBook Partners LP acquired a new position in Flywire during the third quarter worth about $2,790,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

Flywire Company Profile

Flywire Corp. (NASDAQ: FLYW) is a global payments and software company that helps organizations receive and manage payments from customers and clients in multiple countries and currencies. Its platform is designed to simplify complex, cross-border transactions while providing payment tracking, reconciliation and related accounts-receivable capabilities.

The company serves several major verticals, including education, healthcare, travel and business-to-business payments. Its products and services include international and domestic payment processing, digital billing and invoicing, payment plans, embedded payment solutions and tools that help organizations automate reconciliation and improve the payment experience.

Flywire was founded in 2009 as peerTransfer and is headquartered in Boston, Massachusetts.