Mohit Kansal Sells 3,650 Shares of Flywire (NASDAQ:FLYW) Stock

Flywire Corporation (NASDAQ:FLYW) insider Mohit Kansal sold 3,650 shares of the company’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $16.96, for a total value of $61,904.00. Following the transaction, the insider directly owned 500,670 shares in the company, valued at $8,491,363.20. This represents a 0.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 stock was 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 shares were sold at an average price of $15.90, for a total value of $256,005.90.

Flywire Stock Performance

Shares of NASDAQ FLYW opened at $17.57 on Wednesday. The firm has a market capitalization of $2.17 billion, a P/E ratio of 76.39, a PEG ratio of 1.80 and a beta of 1.34. Flywire Corporation has a one year low of $10.10 and a one year high of $18.05. The company’s fifty day moving average is $15.47 and its two-hundred day moving average is $13.77.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates 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 prior year, the company posted ($0.03) EPS. The business’s revenue for the quarter was up 40.9% on a year-over-year basis. On average, sell-side analysts forecast that Flywire Corporation will post 0.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded Flywire to an “outperform” rating in a report on Wednesday, May 27th. Weiss Ratings raised Flywire from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. Zacks Research upgraded Flywire from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 20th. Morgan Stanley lifted their price target on Flywire from $17.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, Citigroup boosted their price objective on shares of Flywire from $13.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $18.07.

Institutional Investors Weigh In On Flywire

A number of institutional investors and hedge funds have recently bought and sold shares of FLYW. Essential Partners LLC grew its holdings in 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 buying an additional 1,571 shares during the last quarter. Global Retirement Partners LLC acquired a new position in shares of Flywire in the fourth quarter worth $32,000. KBC Group NV purchased a new stake in shares of Flywire in the first quarter valued at $38,000. Leonteq Securities AG boosted its stake in shares of 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 acquiring an additional 2,577 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Flywire by 78.4% during the second 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 during the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

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.