Key Points
- Flywire COO Rob Orgel sold 178,980 shares on June 1 at an average price of $17.00, generating about $3.04 million. The filing says the sale was to cover tax withholding tied to vesting equity awards.
- Flywire’s stock was down 3.5%, opening at $14.61, with shares trading between a 12-month low of $9.97 and high of $18.05. The company has a market value of about $1.8 billion.
- Recent results and analyst sentiment remain positive: Flywire beat quarterly EPS and revenue expectations, and Wall Street analysts currently rate the stock a “Moderate Buy” with an average price target of $18.07.
Flywire Corporation (NASDAQ:FLYW - Get Free Report) COO Rob Orgel sold 178,980 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $17.00, for a total transaction of $3,042,660.00. Following the transaction, the chief operating officer directly owned 959,061 shares in the company, valued at $16,304,037. This represents a 15.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Flywire Trading Down 3.5%
Shares of FLYW opened at $14.61 on Thursday. Flywire Corporation has a 12 month low of $9.97 and a 12 month high of $18.05. The firm's 50 day moving average is $14.13 and its 200-day moving average is $13.51. The stock has a market capitalization of $1.80 billion, a PE ratio of 63.52, a P/E/G ratio of 1.04 and a beta of 1.34.
Flywire (NASDAQ:FLYW - Get Free Report) last released its earnings results 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. The firm had revenue of $184.00 million during the quarter, compared to the consensus estimate of $170.24 million. Flywire had a return on equity of 3.78% and a net margin of 4.45%.The company's revenue was up 40.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.03) EPS. Equities research analysts predict that Flywire Corporation will post 0.42 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
FLYW has been the subject of several recent research reports. Truist Financial increased their price target on Flywire from $16.00 to $18.00 and gave the company a "buy" rating in a research note on Tuesday, May 19th. Raymond James Financial reaffirmed an "outperform" rating and set a $22.00 target price on shares of Flywire in a research report on Wednesday, May 27th. Wall Street Zen raised Flywire from a "hold" rating to a "buy" rating in a research report on Sunday, May 24th. UBS Group lifted their target price on Flywire from $14.00 to $18.00 and gave the company a "neutral" rating in a research report on Wednesday, May 6th. Finally, New Street Research set a $16.00 target price on Flywire in a research note on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $18.07.
Read Our Latest Research Report on FLYW
Institutional Trading of Flywire
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Glenmede Trust Co. NA bought a new position in Flywire in the 1st quarter worth about $137,000. Essential Partners LLC increased its stake in Flywire by 219.1% in the 1st quarter. Essential Partners LLC now owns 2,288 shares of the company's stock worth $27,000 after acquiring an additional 1,571 shares during the last quarter. California State Teachers Retirement System increased its stake in Flywire by 42.4% in the 1st quarter. California State Teachers Retirement System now owns 146,602 shares of the company's stock worth $1,706,000 after acquiring an additional 43,651 shares during the last quarter. Quantinno Capital Management LP increased its stake in Flywire by 49.8% in the 1st quarter. Quantinno Capital Management LP now owns 238,849 shares of the company's stock worth $2,780,000 after acquiring an additional 79,368 shares during the last quarter. Finally, ABS Direct Equity Fund LLC increased its stake in Flywire by 9.4% in the 1st quarter. ABS Direct Equity Fund LLC now owns 350,000 shares of the company's stock worth $4,074,000 after acquiring an additional 30,000 shares during the last quarter. 95.90% of the stock is currently owned by institutional investors.
Flywire Company Profile
(
Get Free Report)
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.
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