Insider Selling: Flywire (NASDAQ:FLYW) Insider Sells 54,543 Shares of Stock

Flywire Corporation (NASDAQ:FLYW) insider Mohit Kansal sold 54,543 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $15.15, for a total transaction of $826,326.45. Following the completion of the sale, the insider owned 504,320 shares of the company’s stock, valued at $7,640,448. This trade represents a 9.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• 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 Stock Down 2.8%

NASDAQ FLYW traded down $0.44 during trading hours on Wednesday, hitting $15.42. 1,793,421 shares of the stock were exchanged, compared to its average volume of 1,890,639. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 67.04, a price-to-earnings-growth ratio of 1.05 and a beta of 1.34. Flywire Corporation has a 12-month low of $10.10 and a 12-month high of $18.05. The stock has a 50-day moving average of $14.64 and a 200 day moving average of $13.59.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.07. Flywire had a return on equity of 3.78% and a net margin of 4.45%.The company had revenue of $184.00 million for the quarter, compared to analyst estimates of $170.24 million. During the same quarter in the previous year, the company earned ($0.03) EPS. The firm’s revenue for the quarter was up 40.9% compared to the same quarter last year. On average, equities research analysts expect that Flywire Corporation will post 0.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on FLYW shares. Deutsche Bank Aktiengesellschaft raised Flywire to an “outperform” rating in a report on Wednesday, May 27th. Wall Street Zen upgraded shares of Flywire from a “hold” rating to a “buy” rating in a report on Sunday, May 24th. New Street Research set a $16.00 price objective on shares of Flywire in a research note on Thursday, May 21st. JPMorgan Chase & Co. raised shares of Flywire from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $14.00 to $16.00 in a report on Thursday, May 21st. Finally, BTIG Research upped their target price on shares of Flywire from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. One investment 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’s stock. According to data from MarketBeat, Flywire currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.07.

Institutional Trading of Flywire

Large investors have recently bought and sold shares of the company. Global Retirement Partners LLC acquired a new position in shares of Flywire during the 4th quarter worth $32,000. Essential Partners LLC grew its stake in Flywire by 219.1% in the 1st quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock valued at $27,000 after acquiring an additional 1,571 shares during the last quarter. KBC Group NV acquired a new stake in Flywire in the 1st quarter valued at about $38,000. Leonteq Securities AG increased its holdings in Flywire by 267.6% during the 1st quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock valued at $41,000 after acquiring an additional 2,577 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in Flywire by 78.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock valued at $66,000 after acquiring an additional 2,497 shares in 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.