Mohit Kansal Sells 16,101 Shares of Flywire (NASDAQ:FLYW) Stock

Flywire Corporation (NASDAQ:FLYW) insider Mohit Kansal sold 16,101 shares of Flywire stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $15.90, for a total transaction of $256,005.90. Following the completion of the transaction, the insider directly owned 567,794 shares in the company, valued at $9,027,924.60. This represents a 2.76% 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.

Flywire Trading Down 2.8%

Shares of FLYW traded down $0.50 during midday trading on Friday, hitting $17.23. 2,218,439 shares of the company’s stock traded hands, compared to its average volume of 1,792,577. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of 74.91, a price-to-earnings-growth ratio of 1.33 and a beta of 1.30. Flywire Corporation has a 1 year low of $9.97 and a 1 year high of $18.05. The firm’s fifty day moving average is $12.84 and its 200-day moving average is $13.18.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.07. Flywire had a return on equity of 3.82% and a net margin of 4.45%.The firm had revenue of $184.00 million for the quarter, compared to the consensus estimate of $170.24 million. During the same period in the previous year, the business earned ($0.03) EPS. The firm’s revenue for the quarter was up 40.9% on a year-over-year basis. On average, equities research analysts anticipate that Flywire Corporation will post 0.38 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Royal Bank Of Canada increased their price objective on shares of Flywire from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. Stephens upgraded shares of Flywire from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $17.00 to $19.00 in a research note on Friday, January 16th. B. Riley Financial raised their price target on shares of Flywire from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, January 9th. UBS Group boosted their price objective on shares of Flywire from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $17.00 target price on shares of Flywire in a research note on Wednesday. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $18.17.

Hedge Funds Weigh In On Flywire

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Voss Capital LP lifted its stake in Flywire by 21.5% during the 4th quarter. Voss Capital LP now owns 11,750,000 shares of the company’s stock valued at $166,380,000 after acquiring an additional 2,080,202 shares during the period. Jennison Associates LLC increased its stake in shares of Flywire by 19.9% in the first quarter. Jennison Associates LLC now owns 5,298,881 shares of the company’s stock worth $61,679,000 after acquiring an additional 878,248 shares during the period. Wellington Management Group LLP increased its stake in shares of Flywire by 43.8% in the fourth quarter. Wellington Management Group LLP now owns 4,828,197 shares of the company’s stock worth $68,367,000 after acquiring an additional 1,470,011 shares during the period. Mangrove Partners IM LLC raised its holdings in shares of Flywire by 2.8% during the fourth quarter. Mangrove Partners IM LLC now owns 2,984,076 shares of the company’s stock worth $42,255,000 after purchasing an additional 82,383 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Flywire by 18.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,886,865 shares of the company’s stock valued at $21,962,000 after purchasing an additional 295,960 shares during the period. Institutional investors and hedge funds own 95.90% of the company’s stock.

Flywire Company Profile

Flywire Corp (NASDAQ: FLYW) is a global payments enablement and software company that specializes in facilitating complex cross-border transactions. Its cloud-based platform streamlines receivables and payer workflows across key verticals including education, healthcare, travel and hospitality, and commercial services. Flywire’s technology integrates with institutional systems to automate payment posting, reconciliation and reporting, aiming to improve the payer experience and accelerate cash flow for its clients.

Founded in 2009 by entrepreneur Iker Marcaide as peerTransfer, the company rebranded as Flywire in 2015.