Flywire Corporation (NASDAQ:FLYW – Get Free Report) insider Mohit Kansal sold 6,053 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $20.90, for a total value of $126,507.70. Following the completion of the transaction, the insider directly owned 472,271 shares in the company, valued at $9,870,463.90. This trade represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Flywire Trading Up 1.5%
Shares of FLYW traded up $0.31 during midday trading on Friday, reaching $21.57. 2,499,654 shares of the company were exchanged, compared to its average volume of 1,881,598. Flywire Corporation has a 1-year low of $10.55 and a 1-year high of $22.17. The stock has a 50-day moving average price of $18.39 and a 200-day moving average price of $15.65. The company has a market cap of $2.62 billion, a price-to-earnings ratio of 35.95, a P/E/G ratio of 1.39 and a beta of 1.32.
Flywire (NASDAQ:FLYW – Get Free Report) last posted its earnings results on Tuesday, November 3rd. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.26. The business had revenue of $250.30 million during the quarter, compared to analyst estimates of $233.25 million. Flywire had a return on equity of 9.46% and a net margin of 10.34%. The company’s revenue for the quarter was up 25.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.23 earnings per share. Equities research analysts anticipate that Flywire Corporation will post 0.40 earnings per share for the current year.
Institutional Investors Weigh In On Flywire
A number of institutional investors have recently modified their holdings of the stock. Essential Partners LLC lifted its position in shares of Flywire by 219.1% during 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 during the last quarter. Nykredit A S bought a new stake in Flywire in the second quarter valued at about $29,000. KBC Group NV bought a new stake in Flywire in the first quarter valued at about $38,000. Leonteq Securities AG increased its holdings in Flywire by 267.6% in the first 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 during the last quarter. Finally, IFP Advisors Inc raised its stake in Flywire by 168.7% during the third quarter. IFP Advisors Inc now owns 2,483 shares of the company’s stock valued at $43,000 after buying an additional 1,559 shares in the last quarter. Institutional investors and hedge funds own 95.90% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on FLYW shares. Royal Bank Of Canada reiterated an “outperform” rating and set a $25.00 price objective on shares of Flywire in a research note on Wednesday, September 30th. Stephens began coverage on shares of Flywire in a report on Friday, October 16th. They set an “equal weight” rating and a $20.00 price target for the company. BTIG Research raised their price target on shares of Flywire from $20.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday. Weiss Ratings raised shares of Flywire from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, September 1st. Finally, UBS Group boosted their price objective on shares of Flywire from $19.00 to $21.50 and gave the stock a “neutral” rating in a report on Wednesday. Seven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $22.27.
View Our Latest Research Report on FLYW
About Flywire
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.
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