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 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 directly owned 500,670 shares of the company’s stock, valued at $8,491,363.20. The trade was a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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 value 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 Price Performance

NASDAQ FLYW opened at $17.60 on Tuesday. The company has a fifty day moving average price of $15.39 and a 200-day moving average price of $13.75. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 76.52, a PEG ratio of 1.79 and a beta of 1.34. Flywire Corporation has a 1 year low of $10.10 and a 1 year high of $18.05.

Flywire (NASDAQ:FLYW) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share 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 analysts’ expectations of $170.24 million. During the same period in the previous year, the company earned ($0.03) earnings per share. The firm’s revenue for the quarter was up 40.9% compared to the same quarter last year. On average, research analysts anticipate that Flywire Corporation will post 0.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FLYW has been the subject of a number of research analyst reports. New Street Research set a $16.00 price target on Flywire in a research report on Thursday, May 21st. Morgan Stanley boosted their price objective on Flywire from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Truist Financial upped their price objective on Flywire from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, May 19th. Citigroup raised their target price on Flywire from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Finally, Deutsche Bank Aktiengesellschaft upgraded Flywire to an “outperform” rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Flywire currently has an average rating of “Moderate Buy” and a consensus target price of $18.07.

Institutional Investors Weigh In On Flywire

A number of institutional investors and hedge funds have recently modified their holdings of the company. Glenmede Trust Co. NA purchased a new position in Flywire during the first quarter valued at approximately $137,000. Essential Partners LLC lifted its stake in Flywire by 219.1% in the 1st quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock worth $27,000 after purchasing an additional 1,571 shares in the last quarter. California State Teachers Retirement System lifted its stake in Flywire by 42.4% in the 1st quarter. California State Teachers Retirement System now owns 146,602 shares of the company’s stock worth $1,706,000 after purchasing an additional 43,651 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in Flywire by 49.8% in the 1st quarter. Quantinno Capital Management LP now owns 238,849 shares of the company’s stock valued at $2,780,000 after purchasing an additional 79,368 shares during the period. Finally, ABS Direct Equity Fund LLC grew its position in shares of Flywire by 9.4% during the 1st quarter. ABS Direct Equity Fund LLC now owns 350,000 shares of the company’s stock valued at $4,074,000 after purchasing an additional 30,000 shares in the last quarter. 95.90% of the stock is owned by hedge funds and other 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.