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

Flywire Corporation (NASDAQ:FLYW) insider Mohit Kansal sold 3,650 shares of Flywire stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $16.96, for a total transaction of $61,904.00. Following the completion of the sale, the insider owned 500,670 shares in the company, valued at $8,491,363.20. This trade represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 transaction 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 transaction of $256,005.90.

Flywire Price Performance

FLYW stock traded up $0.06 during midday trading on Monday, hitting $17.60. The company’s stock had a trading volume of 2,697,006 shares, compared to its average volume of 1,959,533. Flywire Corporation has a twelve month low of $10.10 and a twelve month high of $18.05. The company’s fifty day moving average price is $15.31 and its 200 day moving average price is $13.72. The stock has a market capitalization of $2.17 billion, a P/E ratio of 76.52, a PEG ratio of 1.79 and a beta of 1.34.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $170.24 million. Flywire had a net margin of 4.45% and a return on equity of 3.78%. The company’s quarterly revenue was up 40.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.03) EPS. Equities analysts expect that Flywire Corporation will post 0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Flywire

Hedge funds and other institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC acquired a new stake in shares of Flywire in the first quarter valued at approximately $271,000. Millennium Management LLC boosted its stake in shares of Flywire by 15.1% during the 1st quarter. Millennium Management LLC now owns 1,330,971 shares of the company’s stock worth $12,644,000 after acquiring an additional 175,007 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Flywire by 14.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,241,226 shares of the company’s stock worth $11,792,000 after acquiring an additional 159,239 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Flywire by 7.3% during the 2nd quarter. American Century Companies Inc. now owns 107,856 shares of the company’s stock worth $1,262,000 after acquiring an additional 7,357 shares during the last quarter. Finally, Prudential Financial Inc. bought a new stake in Flywire in the 2nd quarter valued at $184,000. Institutional investors own 95.90% of the company’s stock.

Analysts Set New Price Targets

FLYW has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft upgraded Flywire to an “outperform” rating in a research note on Wednesday, May 27th. Zacks Research raised Flywire from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 20th. Wall Street Zen cut shares of Flywire from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Morgan Stanley boosted their target price on shares of Flywire from $17.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Truist Financial upped their price target on shares of Flywire from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.07.

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.