Flywire Corporation (NASDAQ:FLYW - Get Free Report) insider Mohit Kansal sold 6,053 shares of the stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $20.90, for a total value of $126,507.70. Following the completion of the transaction, the insider directly owned 472,271 shares in the company, valued at $9,870,463.90. This represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Flywire Stock Performance
NASDAQ FLYW traded up $0.31 during trading hours on Friday, reaching $21.57. The stock had a trading volume of 2,499,704 shares, compared to its average volume of 1,238,536. Flywire Corporation has a 52-week low of $10.55 and a 52-week high of $22.17. The stock has a fifty day moving average of $18.45 and a 200 day moving average of $15.69. The stock has a market cap of $2.62 billion, a P/E ratio of 35.95, a price-to-earnings-growth ratio of 1.24 and a beta of 1.32.
Flywire (NASDAQ:FLYW - Get Free Report) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.31 by $0.26. The business had revenue of $250.30 million for the quarter, compared to the consensus estimate of $233.25 million. Flywire had a net margin of 4.77% and a return on equity of 4.08%. The business's revenue for the quarter was up 25.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.23 EPS. On average, equities research analysts forecast that Flywire Corporation will post 0.40 EPS for the current year.
Hedge Funds Weigh In On Flywire
A number of institutional investors have recently added to or reduced their stakes in the stock. Wasatch Advisors LP purchased a new stake in shares of Flywire in the second quarter valued at about $44,026,000. Jennison Associates LLC boosted its holdings in Flywire by 19.9% in the 1st quarter. Jennison Associates LLC now owns 5,298,881 shares of the company's stock valued at $61,679,000 after purchasing an additional 878,248 shares during the last quarter. North Reef Capital Management LP boosted its holdings in Flywire by 83.3% in the 1st quarter. North Reef Capital Management LP now owns 1,100,000 shares of the company's stock valued at $12,804,000 after purchasing an additional 499,999 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Flywire by 110.8% in the 1st quarter. Renaissance Technologies LLC now owns 887,200 shares of the company's stock valued at $10,327,000 after buying an additional 466,300 shares during the period. Finally, Squarepoint Ops LLC grew its stake in shares of Flywire by 158.4% in the 2nd 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. Hedge funds and other institutional investors own 95.90% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have commented on FLYW. BTIG Research upped their price target on shares of Flywire from $20.00 to $22.00 and gave the company a "buy" rating in a report on Wednesday. Morgan Stanley lifted their price objective on Flywire from $24.00 to $26.00 and gave the company an "overweight" rating in a research note on Wednesday. B. Riley Financial reissued a "buy" rating and issued a $25.00 price objective (up from $24.00) on shares of Flywire in a report on Wednesday. Zacks Research downgraded Flywire from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 10th. Finally, Citigroup raised their target price on Flywire from $19.00 to $23.00 and gave the stock a "neutral" rating in a report on Thursday. Seven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $22.27.
View Our Latest Research Report on FLYW
About Flywire
(
Get Free Report)
Flywire Corp. (NASDAQ: FLYW) is a global payments and software company that helps organizations receive and manage payments from customers and clients in multiple countries and currencies. Its platform is designed to simplify complex, cross-border transactions while providing payment tracking, reconciliation and related accounts-receivable capabilities.
The company serves several major verticals, including education, healthcare, travel and business-to-business payments. Its products and services include international and domestic payment processing, digital billing and invoicing, payment plans, embedded payment solutions and tools that help organizations automate reconciliation and improve the payment experience.
Flywire was founded in 2009 as peerTransfer and is headquartered in Boston, Massachusetts.
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