Flywire (NASDAQ:FLYW) Insider Mohit Kansal Sells 3,650 Shares of Stock

Flywire Corporation (NASDAQ:FLYW) insider Mohit Kansal sold 3,650 shares of the company’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $16.96, for a total value of $61,904.00. Following the completion of the sale, the insider owned 500,670 shares in the company, valued at $8,491,363.20. This trade represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, June 15th, Mohit Kansal sold 54,543 shares of Flywire stock. The shares were sold at an average price of $15.15, for a total transaction of $826,326.45.
• On Wednesday, May 6th, Mohit Kansal sold 16,101 shares of Flywire stock. The stock was sold at an average price of $15.90, for a total transaction of $256,005.90.

Flywire Stock Up 0.3%

FLYW traded up $0.06 during trading on Monday, hitting $17.60. The company’s stock had a trading volume of 2,697,006 shares, compared to its average volume of 1,959,533. The firm’s 50 day moving average price is $15.31 and its two-hundred day moving average price is $13.72. Flywire Corporation has a 12 month low of $10.10 and a 12 month high of $18.05. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 76.52, a price-to-earnings-growth ratio of 1.79 and a beta of 1.34.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.07. Flywire had a net margin of 4.45% and a return on equity of 3.78%. The business had revenue of $184.00 million for the quarter, compared to the consensus estimate of $170.24 million. During the same quarter in the prior year, the company earned ($0.03) EPS. The firm’s quarterly revenue was up 40.9% on a year-over-year basis. On average, sell-side analysts forecast that Flywire Corporation will post 0.28 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on FLYW shares. JPMorgan Chase & Co. raised shares of Flywire from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $14.00 to $16.00 in a report on Thursday, May 21st. Weiss Ratings raised Flywire from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. The Goldman Sachs Group restated a “neutral” rating and issued a $17.00 price target on shares of Flywire in a research report on Wednesday, May 6th. Citigroup lifted their price objective on Flywire from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, UBS Group boosted their target price on Flywire from $14.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Flywire currently has an average rating of “Moderate Buy” and an average price target of $18.07.

Institutional Investors Weigh In On Flywire

Institutional investors have recently added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC acquired a new stake in shares of Flywire in the 3rd quarter valued at about $1,253,000. Jennison Associates LLC grew its holdings in shares of Flywire by 35.2% during the fourth quarter. Jennison Associates LLC now owns 4,420,633 shares of the company’s stock worth $62,596,000 after buying an additional 1,150,802 shares in the last quarter. AlphaQuest LLC grew its holdings in shares of Flywire by 372.4% during the fourth quarter. AlphaQuest LLC now owns 105,448 shares of the company’s stock worth $1,493,000 after buying an additional 83,128 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new stake in Flywire in the 3rd quarter valued at approximately $1,354,000. Finally, BNP Paribas Financial Markets raised its position in Flywire by 103.3% in the 4th quarter. BNP Paribas Financial Markets now owns 1,023,958 shares of the company’s stock valued at $14,499,000 after buying an additional 520,256 shares during the last quarter. 95.90% of the stock is owned by institutional investors.

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.