Flywire (NASDAQ:FLYW) Insider Mohit Kansal Sells 6,053 Shares of Stock

Key Points

• Flywire insider Mohit Kansal sold 6,053 shares for about $126,508 at an average price of $20.90 under a pre-arranged Rule 10b5-1 plan. He retained 472,271 shares after the sale, a 1.27% reduction in his position.
• Flywire beat quarterly expectations, reporting $0.57 earnings per share versus $0.31 forecast and $250.3 million in revenue versus $233.25 million expected; revenue grew 25.1% year over year.
• Shares rose 1.5% to $21.57 in Friday trading. Analysts’ consensus rating was Hold, with a $22.27 average price target.

Flywire Corporation (NASDAQ:FLYW - Get Free Report) insider Mohit Kansal sold 6,053 shares of the company's stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $20.90, for a total transaction of $126,507.70. Following the completion of the sale, the insider directly owned 472,271 shares in the company, valued at $9,870,463.90. This trade represents a 1.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Flywire Trading Up 1.5%

Shares of FLYW stock traded up $0.31 during trading hours on Friday, hitting $21.57. The company's stock had a trading volume of 2,499,654 shares, compared to its average volume of 1,881,598. The business has a fifty day moving average of $18.39 and a 200-day moving average of $15.65. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of 35.95, a P/E/G ratio of 1.39 and a beta of 1.32. Flywire Corporation has a twelve month low of $10.55 and a twelve month high of $22.17.

Flywire (NASDAQ:FLYW - Get Free Report) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.26. The business had revenue of $250.30 million during the quarter, compared to analysts' expectations of $233.25 million. Flywire had a net margin of 10.34% and a return on equity of 9.46%. The company's revenue was up 25.1% on a year-over-year basis. During the same period last year, the company posted $0.23 EPS. On average, equities analysts expect that Flywire Corporation will post 0.40 EPS for the current fiscal year.

Institutional Trading of Flywire

A number of institutional investors and hedge funds have recently made changes to their positions in FLYW. Russell Investments Group Ltd. raised its holdings in Flywire by 95.4% in the third quarter. Russell Investments Group Ltd. now owns 172,348 shares of the company's stock valued at $3,016,000 after buying an additional 84,165 shares during the period. Fifth Third Bancorp grew its stake in Flywire by 4.2% during the third quarter. Fifth Third Bancorp now owns 45,556 shares of the company's stock worth $797,000 after buying an additional 1,839 shares during the period. Lisanti Capital Growth LLC acquired a new stake in shares of Flywire in the third quarter worth $3,948,000. StoneX Group Inc. increased its position in shares of Flywire by 12.7% in the third quarter. StoneX Group Inc. now owns 31,701 shares of the company's stock worth $558,000 after acquiring an additional 3,561 shares in the last quarter. Finally, CenterBook Partners LP acquired a new stake in shares of Flywire in the third quarter worth $2,790,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FLYW. Zacks Research cut Flywire from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 10th. Raymond James Financial reaffirmed an "outperform" rating and set a $24.00 price target on shares of Flywire in a research note on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of Flywire from $20.00 to $23.00 and gave the stock a "neutral" rating in a report on Wednesday. Truist Financial lifted their price target on shares of Flywire from $17.00 to $19.00 and gave the stock a "hold" rating in a report on Friday, August 14th. Finally, B. Riley Financial reissued a "buy" rating and issued a $25.00 price objective (up from $24.00) on shares of Flywire in a research report on Wednesday. Seven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $22.27.

About Flywire

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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