Mohit Kansal Sells 54,543 Shares of Flywire (NASDAQ:FLYW) Stock

Flywire Corporation (NASDAQ:FLYW) insider Mohit Kansal sold 54,543 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $15.15, for a total value of $826,326.45. Following the sale, the insider directly owned 504,320 shares in the company, valued at $7,640,448. This represents a 9.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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 value of $256,005.90.

Flywire Stock Performance

NASDAQ:FLYW opened at $15.85 on Friday. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 68.91, a PEG ratio of 1.58 and a beta of 1.34. Flywire Corporation has a fifty-two week low of $10.10 and a fifty-two week high of $18.05. The stock has a fifty day moving average price of $14.80 and a 200-day moving average price of $13.61.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.07. The company had revenue of $184.00 million for the quarter, compared to analysts’ expectations of $170.24 million. Flywire had a return on equity of 3.78% and a net margin of 4.45%.Flywire’s revenue was up 40.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.03) earnings per share. Research analysts predict that Flywire Corporation will post 0.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Flywire

Several hedge funds and other institutional investors have recently made changes to their positions in FLYW. Glenmede Trust Co. NA bought a new position in Flywire in the 1st quarter valued at approximately $137,000. Essential Partners LLC grew its stake in shares of Flywire by 219.1% during the first quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock worth $27,000 after buying an additional 1,571 shares during the last quarter. California State Teachers Retirement System grew its stake in shares of Flywire by 42.4% during the first quarter. California State Teachers Retirement System now owns 146,602 shares of the company’s stock worth $1,706,000 after buying an additional 43,651 shares during the last quarter. Quantinno Capital Management LP increased its holdings in shares of Flywire by 49.8% during the first quarter. Quantinno Capital Management LP now owns 238,849 shares of the company’s stock worth $2,780,000 after buying an additional 79,368 shares in the last quarter. Finally, ABS Direct Equity Fund LLC increased its holdings in shares of Flywire by 9.4% during the first quarter. ABS Direct Equity Fund LLC now owns 350,000 shares of the company’s stock worth $4,074,000 after buying an additional 30,000 shares in the last quarter. 95.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FLYW has been the subject of several analyst reports. The Goldman Sachs Group restated a “neutral” rating and issued a $17.00 target price on shares of Flywire in a research report on Wednesday, May 6th. Citigroup lifted their price objective on shares of Flywire from $13.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. New Street Research set a $16.00 price objective on shares of Flywire in a research report on Thursday, May 21st. UBS Group raised their target price on Flywire from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Finally, Wall Street Zen upgraded Flywire from a “hold” rating to a “buy” rating in a research note on Sunday, May 24th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Flywire has a consensus rating of “Moderate Buy” and an average target price of $18.07.

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.