Insider Selling: Flywire (NASDAQ:FLYW) Insider Sells $826,326.45 in Stock

Flywire Corporation (NASDAQ:FLYW) insider Mohit Kansal sold 54,543 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $15.15, for a total transaction of $826,326.45. Following the completion of the transaction, the insider owned 504,320 shares of the company’s stock, valued at $7,640,448. This represents a 9.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Mohit Kansal also recently made the following trade(s):

• On Wednesday, May 6th, Mohit Kansal sold 16,101 shares of Flywire stock. The shares were sold at an average price of $15.90, for a total transaction of $256,005.90.

Flywire Price Performance

Shares of Flywire stock opened at $15.85 on Friday. The firm’s 50 day moving average price is $14.88 and its 200-day moving average price is $13.63. Flywire Corporation has a 52-week low of $10.10 and a 52-week high of $18.05. The company has a market cap of $1.96 billion, a P/E ratio of 68.91, a PEG ratio of 1.62 and a beta of 1.34.

Flywire (NASDAQ:FLYW) last posted its earnings results on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.07. The company had revenue of $184.00 million during the quarter, compared to analysts’ expectations of $170.24 million. Flywire had a net margin of 4.45% and a return on equity of 3.78%. Flywire’s revenue for the quarter was up 40.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.03) earnings per share. As a group, equities research analysts forecast that Flywire Corporation will post 0.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FLYW. Glenmede Trust Co. NA acquired a new stake in shares of Flywire during the first quarter worth about $137,000. Essential Partners LLC increased its holdings in Flywire by 219.1% in the 1st quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock worth $27,000 after buying an additional 1,571 shares during the period. California State Teachers Retirement System raised its position in Flywire by 42.4% during the 1st quarter. California State Teachers Retirement System now owns 146,602 shares of the company’s stock worth $1,706,000 after buying an additional 43,651 shares during the last quarter. Quantinno Capital Management LP raised its position in Flywire by 49.8% during the 1st quarter. Quantinno Capital Management LP now owns 238,849 shares of the company’s stock worth $2,780,000 after buying an additional 79,368 shares during the last quarter. Finally, ABS Direct Equity Fund LLC lifted its stake in Flywire by 9.4% during the 1st quarter. ABS Direct Equity Fund LLC now owns 350,000 shares of the company’s stock valued at $4,074,000 after acquiring an additional 30,000 shares during the period. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. BTIG Research boosted their target price on Flywire from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. raised Flywire from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $14.00 to $16.00 in a report on Thursday, May 21st. Raymond James Financial restated an “outperform” rating and set a $22.00 price target on shares of Flywire in a research note on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft raised shares of Flywire to an “outperform” rating in a research report on Wednesday, May 27th. Finally, Morgan Stanley lifted their target price on shares of Flywire from $17.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.07.

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.