Key Points
- Flywire COO Rob Orgel sold 125,000 shares for about $2.73 million at an average price of $21.81 under a pre-arranged Rule 10b5-1 plan. He retained 916,918 shares after the sale, a 12% reduction in his ownership.
- Flywire’s latest quarter beat analyst expectations, with earnings of $0.57 per share versus $0.31 expected and revenue of $250.3 million versus $233.25 million expected; revenue grew 25.1% year over year.
- Analysts’ average rating is Hold, with an average price target of $22.58. Shares recently traded at $22.26, near their one-year high of $22.58.
Flywire Corporation (NASDAQ:FLYW - Get Free Report) COO Rob Orgel sold 125,000 shares of the business's stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $21.81, for a total transaction of $2,726,250.00. Following the completion of the sale, the chief operating officer directly owned 916,918 shares of the company's stock, valued at approximately $19,997,981.58. This trade represents a 12.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Flywire Stock Performance
NASDAQ FLYW traded up $0.79 during trading hours on Friday, hitting $22.26. The company had a trading volume of 2,403,999 shares, compared to its average volume of 1,978,672. The business has a 50 day moving average of $18.79 and a 200-day moving average of $15.91. The company has a market cap of $2.73 billion, a PE ratio of 37.10, a price-to-earnings-growth ratio of 0.91 and a beta of 1.32. Flywire Corporation has a 1-year low of $10.55 and a 1-year high of $22.58.
Flywire (NASDAQ:FLYW - Get Free Report) last posted its earnings results on Tuesday, November 3rd. The company reported $0.57 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.26. Flywire had a return on equity of 9.25% and a net margin of 10.34%. The business had revenue of $250.30 million for the quarter, compared to analysts' expectations of $233.25 million. During the same quarter in the previous year, the firm earned $0.23 earnings per share. The business's revenue was up 25.1% compared to the same quarter last year. Sell-side analysts expect that Flywire Corporation will post 0.64 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Flywire
A number of hedge funds and other institutional investors have recently bought and sold shares of FLYW. FORA Capital LLC acquired a new position in Flywire in the 3rd quarter valued at $552,000. Marshall Wace LLP raised its position in Flywire by 105.1% during the 3rd quarter. Marshall Wace LLP now owns 136,687 shares of the company's stock worth $2,392,000 after buying an additional 70,032 shares during the last quarter. Caxton Associates LLP raised its position in Flywire by 343.2% during the 3rd quarter. Caxton Associates LLP now owns 120,584 shares of the company's stock worth $2,110,000 after buying an additional 93,377 shares during the last quarter. First Trust Advisors LP raised its position in Flywire by 68.9% during the 3rd quarter. First Trust Advisors LP now owns 820,927 shares of the company's stock worth $14,366,000 after buying an additional 334,859 shares during the last quarter. Finally, Voya Investment Management LLC lifted its stake in shares of Flywire by 62.5% in the 3rd quarter. Voya Investment Management LLC now owns 37,253 shares of the company's stock worth $652,000 after acquiring an additional 14,330 shares during the period. 95.90% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the company. BTIG Research raised their price target on Flywire from $20.00 to $22.00 and gave the stock a "buy" rating in a research note on Wednesday, November 4th. Seaport Research Partners reiterated a "buy" rating and issued a $22.00 price objective on shares of Flywire in a research note on Monday, August 17th. UBS Group boosted their price objective on Flywire from $19.00 to $21.50 and gave the company a "neutral" rating in a research note on Wednesday, November 4th. Truist Financial increased their price objective on Flywire from $19.00 to $23.00 and gave the company a "hold" rating in a report on Wednesday. Finally, Stephens started coverage on shares of Flywire in a research report on Friday, October 16th. They set an "equal weight" rating and a $20.00 target price on the stock. Seven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, Flywire currently has an average rating of "Hold" and an average price target of $22.58.
Check Out Our Latest Research Report on Flywire
Flywire Company Profile
(
Get Free Report)
Flywire Corporation is a global payments and software company that helps businesses and institutions manage domestic and cross-border payments. Its platform connects payment processing with organizations' existing systems and supports multiple currencies and local payment methods. The company serves customers in sectors including education, healthcare, travel and business-to-business services. Its offerings help organizations collect payments from customers and manage related payment workflows, including international transactions.
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