Flywire (NASDAQ:FLYW) Insider Sells $61,904.00 in Stock

Flywire Corporation (NASDAQ:FLYW) insider Mohit Kansal sold 3,650 shares of Flywire stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $16.96, for a total transaction of $61,904.00. Following the completion of the transaction, the insider directly owned 500,670 shares in the company, valued at approximately $8,491,363.20. The trade was a 0.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

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

Flywire Trading Up 5.6%

FLYW stock opened at $18.56 on Thursday. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 80.70, a PEG ratio of 1.79 and a beta of 1.32. The firm’s 50-day moving average price is $15.57 and its two-hundred day moving average price is $13.80. Flywire Corporation has a 12-month low of $10.10 and a 12-month high of $18.84.

Flywire (NASDAQ:FLYW) last posted its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.07. The company had revenue of $184.00 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the business posted ($0.03) earnings per share. Equities analysts predict that Flywire Corporation will post 0.28 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on FLYW shares. BTIG Research boosted their target price on Flywire from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft raised Flywire to an “outperform” rating in a research note on Wednesday, May 27th. Citigroup lifted their price target on shares of Flywire from $13.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Zacks Research raised shares of Flywire from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 20th. Finally, UBS Group upped their price objective on shares of Flywire from $14.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.07.

Institutional Investors Weigh In On Flywire

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