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

Flywire Corporation (NASDAQ:FLYW) insider Mohit Kansal sold 6,053 shares of the stock in a transaction 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 sale, the insider owned 472,271 shares in the company, valued at $9,870,463.90. The trade was a 1.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Flywire Stock Up 1.5%

FLYW traded up $0.31 during trading on Friday, reaching $21.57. The company had a trading volume of 2,499,704 shares, compared to its average volume of 1,238,536. The stock has a market cap of $2.62 billion, a P/E ratio of 35.95, a PEG ratio of 1.24 and a beta of 1.32. The business has a 50 day simple moving average of $18.45 and a 200-day simple moving average of $15.69. Flywire Corporation has a 52 week low of $10.55 and a 52 week high of $22.17.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, November 3rd. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.26. Flywire had a net margin of 4.77% and a return on equity of 4.08%. The business had revenue of $250.30 million for the quarter, compared to the consensus estimate of $233.25 million. During the same quarter in the prior year, the firm posted $0.23 earnings per share. The business’s revenue for the quarter was up 25.1% on a year-over-year basis. As a group, equities research analysts expect that Flywire Corporation will post 0.40 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. increased its holdings in shares of Flywire by 95.4% during the third quarter. Russell Investments Group Ltd. now owns 172,348 shares of the company’s stock valued at $3,016,000 after acquiring an additional 84,165 shares in the last quarter. Fifth Third Bancorp increased its stake in Flywire by 4.2% during the 3rd quarter. Fifth Third Bancorp now owns 45,556 shares of the company’s stock valued at $797,000 after purchasing an additional 1,839 shares in the last quarter. Lisanti Capital Growth LLC acquired a new position in Flywire during the 3rd quarter valued at approximately $3,948,000. StoneX Group Inc. increased its stake in Flywire by 12.7% during the 3rd quarter. StoneX Group Inc. now owns 31,701 shares of the company’s stock valued at $558,000 after purchasing an additional 3,561 shares in the last quarter. Finally, CenterBook Partners LP purchased a new position in shares of Flywire in the third quarter worth $2,790,000. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on FLYW shares. The Goldman Sachs Group reiterated a “neutral” rating and issued a $22.00 target price on shares of Flywire in a research note on Wednesday, August 5th. Citigroup boosted their target price on shares of Flywire from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday. JPMorgan Chase & Co. upped their price target on shares of Flywire from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Wednesday. Weiss Ratings upgraded shares of Flywire from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, September 1st. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $24.00 price target on shares of Flywire in a research note on Wednesday. Seven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, Flywire presently has a consensus rating of “Hold” and a consensus price target of $22.27.

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.