Flywire (NASDAQ:FLYW) Stock: Insider David King Sells 36,900 Shares

Flywire Corporation (NASDAQ:FLYW) insider David King sold 36,900 shares of the company’s stock in a transaction dated Tuesday, October 13th. The stock was sold at an average price of $18.32, for a total value of $676,008.00. Following the sale, the insider owned 202,404 shares in the company, valued at approximately $3,708,041.28. This trade represents a 15.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Flywire Stock Performance

Shares of FLYW opened at $18.47 on Friday. The stock has a 50-day simple moving average of $18.14 and a 200-day simple moving average of $16.45. The stock has a market capitalization of $2.25 billion, a PE ratio of 71.04, a PEG ratio of 1.23 and a beta of 1.35. Flywire Corporation has a 1 year low of $10.55 and a 1 year high of $19.73.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). Flywire had a return on equity of 4.08% and a net margin of 4.77%. The company had revenue of $163.80 million for the quarter, compared to analyst estimates of $156.47 million. During the same period in the prior year, the firm posted ($0.10) earnings per share. The business’s quarterly revenue was up 27.2% compared to the same quarter last year. Analysts predict that Flywire Corporation will post 0.40 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP lifted its stake in Flywire by 1.2% during the second quarter. Wellington Management Group LLP now owns 5,340,579 shares of the company’s stock worth $93,834,000 after purchasing an additional 64,998 shares during the last quarter. Jennison Associates LLC increased its stake in Flywire by 19.9% in the first quarter. Jennison Associates LLC now owns 5,298,881 shares of the company’s stock valued at $61,679,000 after purchasing an additional 878,248 shares during the last quarter. Wasatch Advisors LP purchased a new position in Flywire in the second quarter valued at approximately $44,026,000. Mangrove Partners IM LLC increased its stake in Flywire by 2.8% in the fourth quarter. Mangrove Partners IM LLC now owns 2,984,076 shares of the company’s stock valued at $42,255,000 after purchasing an additional 82,383 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Flywire by 18.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,886,865 shares of the company’s stock worth $21,962,000 after purchasing an additional 295,960 shares in the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FLYW. The Goldman Sachs Group reiterated a “neutral” rating and issued a $22.00 price target on shares of Flywire in a research note on Wednesday, August 5th. Wolfe Research increased their price objective on shares of Flywire from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, August 25th. Seaport Research Partners reissued a “buy” rating and issued a $22.00 price objective on shares of Flywire in a research report on Monday, August 17th. B. Riley Financial raised their price objective on shares of Flywire from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Finally, Citigroup restated a “neutral” rating on shares of Flywire in a report on Thursday, August 6th. Seven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Flywire presently has an average rating of “Hold” and a consensus target price of $20.31.

Flywire Company Profile

Flywire Corporation (NASDAQ: FLYW) is a global payments and software company that helps organizations receive and manage payments from customers, students, patients and other payers. Its platform supports domestic and international transactions, payment processing, invoicing, identity verification, reconciliation and related accounts-receivable workflows.

The company primarily serves the education, healthcare, travel and business-to-business sectors. Its solutions are used by universities and colleges to collect tuition and other fees, healthcare providers to manage patient payments, travel companies to process payments and businesses to facilitate invoicing and cross-border receivables.