Mohit Kansal Sells 54,543 Shares of Flywire (NASDAQ:FLYW) Stock

Flywire Corporation (NASDAQ:FLYW) insider Mohit Kansal sold 54,543 shares of Flywire stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $15.15, for a total value of $826,326.45. Following the transaction, the insider owned 504,320 shares of the company’s stock, valued at $7,640,448. This represents a 9.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Mohit Kansal also recently made the following trade(s):

• 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 value of $256,005.90.

Flywire Price Performance

Flywire stock traded down $0.44 during mid-day trading on Wednesday, hitting $15.42. 1,793,421 shares of the company were exchanged, compared to its average volume of 1,890,639. The business’s 50 day simple moving average is $14.64 and its two-hundred day simple moving average is $13.59. The company has a market capitalization of $1.90 billion, a P/E ratio of 67.04, a PEG ratio of 1.05 and a beta of 1.34. Flywire Corporation has a 12-month low of $10.10 and a 12-month high of $18.05.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.07. The business had revenue of $184.00 million for 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 business’s revenue was up 40.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.03) earnings per share. Equities research analysts predict that Flywire Corporation will post 0.42 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on FLYW. Weiss Ratings raised shares of Flywire from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. Citigroup upped their price objective on shares of Flywire from $13.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. The Goldman Sachs Group restated a “neutral” rating and set a $17.00 target price on shares of Flywire in a research report on Wednesday, May 6th. BTIG Research lifted their target price on shares of Flywire from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, UBS Group boosted their price target on Flywire from $14.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. One equities research 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.07.

Institutional Inflows and Outflows

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

Flywire Company Profile

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.