Mohit Kansal Sells 16,101 Shares of Flywire (NASDAQ:FLYW) Stock
by Jessica Moore · The Cerbat GemFlywire Corporation (NASDAQ:FLYW – Get Free Report) insider Mohit Kansal sold 16,101 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $15.90, for a total transaction of $256,005.90. Following the completion of the transaction, the insider directly owned 567,794 shares in the company, valued at $9,027,924.60. This represents a 2.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Flywire Stock Down 2.8%
FLYW traded down $0.50 on Friday, reaching $17.23. 2,218,439 shares of the company traded hands, compared to its average volume of 1,792,577. The company has a market cap of $2.09 billion, a P/E ratio of 74.91, a price-to-earnings-growth ratio of 1.33 and a beta of 1.30. Flywire Corporation has a one year low of $9.97 and a one year high of $18.05. The firm has a fifty day simple moving average of $12.84 and a two-hundred day simple moving average of $13.18.
Flywire (NASDAQ:FLYW – Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.07. Flywire had a net margin of 4.45% and a return on equity of 3.82%. The business had revenue of $184.00 million for the quarter, compared to analyst estimates of $170.24 million. During the same period last year, the company posted ($0.03) earnings per share. The company’s quarterly revenue was up 40.9% compared to the same quarter last year. On average, equities analysts forecast that Flywire Corporation will post 0.38 earnings per share for the current year.
Hedge Funds Weigh In On Flywire
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC bought a new position in Flywire in the fourth quarter worth about $32,000. Covestor Ltd boosted its holdings in shares of Flywire by 217.9% in the 3rd quarter. Covestor Ltd now owns 3,233 shares of the company’s stock valued at $43,000 after buying an additional 2,216 shares in the last quarter. KBC Group NV purchased a new position in shares of Flywire in the 1st quarter worth approximately $38,000. Leonteq Securities AG grew its position in shares of Flywire by 267.6% in the 1st quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock worth $41,000 after buying an additional 2,577 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new position in shares of Flywire during the 3rd quarter worth approximately $67,000. Hedge funds and other institutional investors own 95.90% of the company’s stock.
Wall Street Analyst Weigh In
FLYW has been the subject of several research reports. UBS Group upped their target price on Flywire from $14.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday. B. Riley Financial upped their price objective on shares of Flywire from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, January 9th. Stephens raised shares of Flywire from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $17.00 to $19.00 in a research report on Friday, January 16th. Citigroup upped their price target on shares of Flywire from $13.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Morgan Stanley increased their price objective on shares of Flywire from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $18.17.
View Our Latest Stock Report on Flywire
About Flywire
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.