Rob Orgel Sells 178,980 Shares of Flywire (NASDAQ:FLYW) Stock

Flywire Corporation (NASDAQ:FLYW) COO Rob Orgel sold 178,980 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $17.00, for a total value of $3,042,660.00. Following the completion of the transaction, the chief operating officer owned 959,061 shares in the company, valued at $16,304,037. This represents a 15.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Flywire Stock Down 0.2%

NASDAQ:FLYW opened at $14.58 on Friday. Flywire Corporation has a 12-month low of $9.97 and a 12-month high of $18.05. The firm has a market capitalization of $1.80 billion, a P/E ratio of 63.39, a P/E/G ratio of 1.00 and a beta of 1.34. The stock’s fifty day simple moving average is $14.18 and its 200-day simple moving average is $13.52.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.07. Flywire had a return on equity of 3.78% and a net margin of 4.45%.The business had revenue of $184.00 million for the quarter, compared to analyst estimates of $170.24 million. During the same period last year, the company earned ($0.03) EPS. The firm’s revenue was up 40.9% on a year-over-year basis. As a group, equities research analysts expect that Flywire Corporation will post 0.42 earnings per share for the current year.

Analyst Ratings Changes

FLYW has been the topic of several research analyst reports. BTIG Research raised their price objective on Flywire from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Citigroup raised their price objective on Flywire from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Truist Financial raised their price objective on Flywire from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, May 19th. Royal Bank Of Canada raised their price objective on Flywire from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Finally, JPMorgan Chase & Co. raised Flywire from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $14.00 to $16.00 in a research note on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.07.

Institutional Trading of Flywire

Several hedge funds and other institutional investors have recently modified their holdings of the company. CIBC Private Wealth Group LLC acquired a new stake in shares of Flywire in the third quarter valued at about $1,253,000. Jennison Associates LLC increased its position in shares of Flywire by 35.2% in the fourth quarter. Jennison Associates LLC now owns 4,420,633 shares of the company’s stock valued at $62,596,000 after acquiring an additional 1,150,802 shares during the last quarter. BlueCrest Capital Management Ltd acquired a new stake in shares of Flywire in the third quarter valued at about $1,354,000. AlphaQuest LLC increased its position in shares of Flywire by 372.4% in the fourth quarter. AlphaQuest LLC now owns 105,448 shares of the company’s stock valued at $1,493,000 after acquiring an additional 83,128 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its position in shares of Flywire by 60.6% in the fourth quarter. First Eagle Investment Management LLC now owns 430,337 shares of the company’s stock valued at $6,094,000 after acquiring an additional 162,348 shares during the last quarter. Institutional investors and hedge funds own 95.90% of the company’s stock.

About Flywire

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.