Flywire (NASDAQ:FLYW) Insider Sells 36,900 Shares of Company Stock

Flywire Corporation (NASDAQ:FLYW) insider David King sold 36,900 shares of the business’s stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $18.32, for a total transaction of $676,008.00. Following the sale, the insider owned 202,404 shares of the company’s stock, valued at approximately $3,708,041.28. This represents a 15.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Flywire Price Performance

Shares of FLYW traded up $1.30 during trading hours on Thursday, hitting $19.36. The stock had a trading volume of 1,682,589 shares, compared to its average volume of 1,873,563. The firm has a market capitalization of $2.36 billion, a PE ratio of 74.46, a PEG ratio of 1.16 and a beta of 1.35. Flywire Corporation has a 12 month low of $10.55 and a 12 month high of $19.73. The stock has a fifty day moving average price of $18.10 and a 200 day moving average price of $16.38.

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

Analyst Upgrades and Downgrades

FLYW has been the subject of several recent research reports. Morgan Stanley restated an “overweight” rating and set a $22.00 target price on shares of Flywire in a research report on Wednesday, August 5th. Weiss Ratings upgraded shares of Flywire from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, September 1st. Royal Bank Of Canada reiterated an “outperform” rating and set a $25.00 price target on shares of Flywire in a research note on Wednesday, September 30th. Citigroup reiterated a “neutral” rating on shares of Flywire in a research note on Thursday, August 6th. Finally, Wolfe Research upped their price objective on Flywire from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 25th. Eight investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, Flywire currently has an average rating of “Moderate Buy” and a consensus target price of $20.23.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FLYW. Essential Partners LLC grew its stake in shares of Flywire by 219.1% during 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 period. Nykredit A S purchased a new stake in Flywire in the 2nd quarter worth approximately $29,000. KBC Group NV purchased a new position in Flywire during the first quarter valued at approximately $38,000. Leonteq Securities AG lifted its holdings in Flywire by 267.6% during the first quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock valued at $41,000 after purchasing an additional 2,577 shares in the last quarter. Finally, Allworth Financial LP boosted its position in shares of Flywire by 126.8% in the second quarter. Allworth Financial LP now owns 4,022 shares of the company’s stock worth $71,000 after purchasing an additional 2,249 shares during the period. 95.90% of the stock is owned by hedge funds and other institutional investors.

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.