Key Points
- Insider David King sold 36,900 Flywire shares at an average price of $18.32, generating $676,008. The Rule 10b5-1 transaction reduced his holdings by 15.42%, leaving him with 202,404 shares.
- Flywire’s stock opened at $19.35 and was reported up 7.1%, with a market capitalization of approximately $2.35 billion. The company’s latest revenue rose 27.2% year over year to $163.8 million, although quarterly EPS missed analyst expectations.
- Analyst sentiment remains positive overall, with a “Moderate Buy” consensus and an average price target of $20.23. Institutional investors own 95.90% of the company’s shares.
Flywire Corporation (NASDAQ:FLYW - Get Free Report) insider David King sold 36,900 shares of Flywire stock in a transaction that occurred on Tuesday, October 13th. The stock was sold at an average price of $18.32, for a total transaction of $676,008.00. Following the completion of the transaction, the insider owned 202,404 shares in the company, valued at approximately $3,708,041.28. This trade represents a 15.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Flywire Stock Up 7.1%
NASDAQ:FLYW opened at $19.35 on Friday. The stock has a fifty day simple moving average of $18.13 and a 200 day simple moving average of $16.44. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of 74.43, a price-to-earnings-growth ratio of 1.15 and a beta of 1.35. Flywire Corporation has a 1-year low of $10.55 and a 1-year high of $19.73.
Flywire (NASDAQ:FLYW - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The firm had revenue of $163.80 million for the quarter, compared to analyst estimates of $156.47 million. Flywire had a net margin of 4.77% and a return on equity of 4.08%. Flywire's revenue for the quarter was up 27.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.10) earnings per share. Equities analysts predict that Flywire Corporation will post 0.40 earnings per share for the current year.
Institutional Investors Weigh In On Flywire
Several hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC increased its holdings in shares of Flywire by 110.8% during the 1st quarter. Renaissance Technologies LLC now owns 887,200 shares of the company's stock worth $10,327,000 after purchasing an additional 466,300 shares during the period. North Reef Capital Management LP lifted its stake in shares of Flywire by 83.3% in the first quarter. North Reef Capital Management LP now owns 1,100,000 shares of the company's stock valued at $12,804,000 after buying an additional 499,999 shares during the period. Squarepoint Ops LLC lifted its stake in shares of Flywire by 158.4% in the second quarter. Squarepoint Ops LLC now owns 539,307 shares of the company's stock valued at $9,476,000 after buying an additional 330,622 shares during the period. Roubaix Capital LLC acquired a new stake in Flywire during the first quarter worth about $2,685,000. Finally, Jennison Associates LLC grew its position in Flywire by 19.9% during the first quarter. Jennison Associates LLC now owns 5,298,881 shares of the company's stock worth $61,679,000 after buying an additional 878,248 shares in the last quarter. 95.90% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of analysts have issued reports on the stock. Morgan Stanley reiterated an "overweight" rating and issued a $22.00 target price on shares of Flywire in a research note on Wednesday, August 5th. Truist Financial raised their price target on shares of Flywire from $17.00 to $19.00 and gave the company a "hold" rating in a report on Friday, August 14th. BTIG Research restated a "buy" rating on shares of Flywire in a report on Thursday, September 10th. Wall Street Zen lowered shares of Flywire from a "buy" rating to a "hold" rating in a research note on Saturday, June 20th. Finally, Wolfe Research upped their price objective on shares of Flywire from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Tuesday, August 25th. Eight research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $20.23.
View Our Latest Stock Analysis on FLYW
About Flywire
(
Get Free Report)
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.
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