Flywire Corporation (NASDAQ:FLYW – Get Free Report) insider David King sold 36,900 shares of the business’s stock in a transaction dated Tuesday, October 13th. The shares were sold at an average price of $18.32, for a total value of $676,008.00. Following the sale, the insider directly owned 202,404 shares of the company’s stock, valued at approximately $3,708,041.28. This trade represents a 15.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Flywire Trading Up 7.1%
Shares of FLYW stock opened at $19.35 on Friday. The company’s fifty day simple moving average is $18.13 and its 200-day simple moving average is $16.44. Flywire Corporation has a 52 week low of $10.55 and a 52 week high of $19.73. The company has a market cap of $2.35 billion, a PE ratio of 74.43, a P/E/G ratio of 1.15 and a beta of 1.35.
Flywire (NASDAQ:FLYW – Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The company had revenue of $163.80 million for the quarter, compared to analyst estimates of $156.47 million. Flywire had a return on equity of 4.08% and a net margin of 4.77%. The business’s revenue was up 27.2% on a year-over-year basis. During the same period last year, the firm posted ($0.10) earnings per share. Equities research analysts expect that Flywire Corporation will post 0.40 EPS for the current fiscal year.
Analysts Set New Price Targets
Several analysts recently weighed in on the company. Truist Financial boosted their price objective on Flywire from $17.00 to $19.00 and gave the company a “hold” rating in a report on Friday, August 14th. Morgan Stanley reaffirmed an “overweight” rating and set a $22.00 target price on shares of Flywire in a report on Wednesday, August 5th. Citigroup reaffirmed a “neutral” rating on shares of Flywire in a report on Thursday, August 6th. UBS Group reiterated a “neutral” rating on shares of Flywire in a research report on Thursday, September 17th. Finally, Wall Street Zen downgraded Flywire from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Eight research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.23.
Get Our Latest Report on Flywire
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of FLYW. Wasatch Advisors LP acquired a new position in Flywire during the 2nd quarter worth $44,026,000. Jennison Associates LLC raised its stake in shares of Flywire by 19.9% during the first quarter. Jennison Associates LLC now owns 5,298,881 shares of the company’s stock valued at $61,679,000 after purchasing an additional 878,248 shares in the last quarter. North Reef Capital Management LP raised its stake in shares of Flywire by 83.3% during the first quarter. North Reef Capital Management LP now owns 1,100,000 shares of the company’s stock valued at $12,804,000 after purchasing an additional 499,999 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Flywire by 110.8% during the first quarter. Renaissance Technologies LLC now owns 887,200 shares of the company’s stock valued at $10,327,000 after purchasing an additional 466,300 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in Flywire by 158.4% in the second quarter. Squarepoint Ops LLC now owns 539,307 shares of the company’s stock worth $9,476,000 after purchasing an additional 330,622 shares during the period. Institutional investors own 95.90% of the company’s stock.
About Flywire
Flywire Corporation (NASDAQ: FLYW) is a global payments and software company that helps organizations receive and manage payments from customers, students, patients and other payers. Its platform supports domestic and international transactions, payment processing, invoicing, identity verification, reconciliation and related accounts-receivable workflows.
The company primarily serves the education, healthcare, travel and business-to-business sectors. Its solutions are used by universities and colleges to collect tuition and other fees, healthcare providers to manage patient payments, travel companies to process payments and businesses to facilitate invoicing and cross-border receivables.
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