Flywire (NASDAQ:FLYW) Stock: Insider Mohit Kansal Sells 6,053 Shares

Flywire Corporation (NASDAQ:FLYW) insider Mohit Kansal sold 6,053 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $20.90, for a total value of $126,507.70. Following the transaction, the insider directly owned 472,271 shares of the company’s stock, valued at $9,870,463.90. The trade was a 1.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Flywire Stock Performance

NASDAQ FLYW opened at $21.57 on Friday. Flywire Corporation has a fifty-two week low of $10.55 and a fifty-two week high of $22.17. The stock has a 50 day simple moving average of $18.45 and a two-hundred day simple moving average of $15.69. The stock has a market cap of $2.62 billion, a P/E ratio of 35.95, a price-to-earnings-growth ratio of 1.37 and a beta of 1.32.

Flywire (NASDAQ:FLYW) last posted its earnings results on Tuesday, November 3rd. The company reported $0.57 earnings per share (EPS) 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 business’s revenue was up 25.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.23 earnings per share. Sell-side analysts predict that Flywire Corporation will post 0.40 earnings per share for the current year.

Analyst Ratings Changes

FLYW has been the topic of a number of research analyst reports. Citigroup boosted their price objective on shares of Flywire from $19.00 to $23.00 and gave the company a “neutral” rating in a research report on Thursday. B. Riley Financial reaffirmed a “buy” rating and issued a $25.00 target price (up from $24.00) on shares of Flywire in a research report on Wednesday. JPMorgan Chase & Co. raised their target price on shares of Flywire from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Wednesday. Raymond James Financial reaffirmed an “outperform” rating and set a $24.00 target price on shares of Flywire in a research note on Wednesday. Finally, Wolfe Research boosted their price target on shares of Flywire from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, August 25th. Seven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $22.27.

Institutional Investors Weigh In On Flywire

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FLYW. Essential Partners LLC raised its holdings in Flywire by 219.1% in the first quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock worth $27,000 after purchasing an additional 1,571 shares in the last quarter. Nykredit A S bought a new stake in shares of Flywire during the 2nd quarter valued at $29,000. KBC Group NV bought a new stake in shares of Flywire during the 1st quarter valued at $38,000. Leonteq Securities AG boosted its holdings in shares of Flywire by 267.6% during the 1st quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock valued at $41,000 after buying an additional 2,577 shares in the last quarter. Finally, IFP Advisors Inc grew its position in shares of Flywire by 168.7% in the 3rd quarter. IFP Advisors Inc now owns 2,483 shares of the company’s stock worth $43,000 after buying an additional 1,559 shares during the period. 95.90% of the stock is owned by hedge funds and other institutional investors.

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.