Insider Selling: Flywire (NASDAQ:FLYW) Insider Sells $676,008.00 in Stock

Key Points

• Flywire insider David King sold 36,900 shares for $676,008 under a pre-arranged Rule 10b5-1 plan, reducing his ownership by 15.42% to 202,404 shares.
• Flywire shares rose 7.2% to $19.36, near the company’s 52-week high of $19.73, while the company reported 27.2% year-over-year quarterly revenue growth but missed EPS estimates.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $20.23; institutional investors own 95.9% of the stock.

Flywire Corporation (NASDAQ:FLYW - Get Free Report) insider David King sold 36,900 shares of the company's stock in a transaction on Tuesday, October 13th. The stock was sold at an average price of $18.32, for a total value of $676,008.00. Following the completion of the sale, the insider directly owned 202,404 shares in the company, valued at approximately $3,708,041.28. The trade was a 15.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Flywire Trading Up 7.2%

FLYW traded up $1.30 during trading on Thursday, reaching $19.36. The stock had a trading volume of 1,682,589 shares, compared to its average volume of 1,873,563. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 74.46, a P/E/G ratio of 1.16 and a beta of 1.35. The stock's 50 day moving average is $18.10 and its two-hundred day moving average is $16.38. Flywire Corporation has a one year low of $10.55 and a one 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) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.05). The business had revenue of $163.80 million for the quarter, compared to the consensus estimate of $156.47 million. Flywire had a net margin of 4.77% and a return on equity of 4.08%. The business's quarterly revenue was up 27.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.10) EPS. On average, equities research analysts predict that Flywire Corporation will post 0.40 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on FLYW. Truist Financial boosted their target price on Flywire from $17.00 to $19.00 and gave the stock a "hold" rating in a report on Friday, August 14th. Wolfe Research raised their price target on Flywire from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Tuesday, August 25th. Zacks Research lowered Flywire from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 10th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $22.00 price target on shares of Flywire in a research report on Wednesday, August 5th. Finally, B. Riley Financial upped their price target on shares of Flywire from $22.00 to $24.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Eight investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, Flywire currently has an average rating of "Moderate Buy" and a consensus target price of $20.23.

Institutional Trading of Flywire

Several institutional investors have recently added to or reduced their stakes in the business. Nykredit A S purchased a new stake in shares of Flywire during the 2nd quarter valued at about $29,000. Essential Partners LLC grew its stake in shares of Flywire by 219.1% in the first quarter. Essential Partners LLC now owns 2,288 shares of the company's stock worth $27,000 after acquiring an additional 1,571 shares during the period. KBC Group NV purchased a new position in shares of Flywire during the first quarter valued at approximately $38,000. Leonteq Securities AG raised its holdings in shares of Flywire by 267.6% during the first quarter. Leonteq Securities AG now owns 3,540 shares of the company's stock valued at $41,000 after purchasing an additional 2,577 shares during the last quarter. Finally, Allworth Financial LP raised its holdings in shares of Flywire by 126.8% during the second quarter. Allworth Financial LP now owns 4,022 shares of the company's stock valued at $71,000 after purchasing an additional 2,249 shares during the last quarter. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

About Flywire

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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