Flywire (NASDAQ:FLYW) COO Rob Orgel Sells 125,000 Shares of Stock

Flywire Corporation (NASDAQ:FLYW) COO Rob Orgel sold 125,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $21.81, for a total transaction of $2,726,250.00. Following the sale, the chief operating officer owned 916,918 shares in the company, valued at approximately $19,997,981.58. The trade was a 12.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Flywire Stock Up 3.7%

NASDAQ:FLYW traded up $0.80 during trading hours on Friday, hitting $22.27. 2,403,248 shares of the stock traded hands, compared to its average volume of 1,885,575. Flywire Corporation has a 1 year low of $10.55 and a 1 year high of $22.58. The company has a market cap of $2.71 billion, a price-to-earnings ratio of 37.12, a price-to-earnings-growth ratio of 0.89 and a beta of 1.32. The stock has a 50 day moving average price of $18.72 and a 200 day moving average price of $15.86.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.26. The firm 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 9.25%. The company’s revenue for the quarter was up 25.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.23 earnings per share. Equities analysts forecast that Flywire Corporation will post 0.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on FLYW. JPMorgan Chase & Co. upped their target price on shares of Flywire from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Wednesday, November 4th. Seaport Research Partners reissued a “buy” rating and set a $22.00 price target on shares of Flywire in a report on Monday, August 17th. BTIG Research raised their price target on Flywire from $20.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, November 4th. Wolfe Research boosted their price objective on Flywire from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, August 25th. Finally, Truist Financial upped their price objective on Flywire from $19.00 to $23.00 and gave the stock a “hold” rating in a research note on Wednesday. Seven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $22.58.

Institutional Investors Weigh In On Flywire

Institutional investors and hedge funds have recently modified their holdings of the stock. Essential Partners LLC lifted its holdings 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 buying an additional 1,571 shares in the last quarter. Nykredit A S purchased a new position in Flywire during the second quarter valued at $29,000. KBC Group NV purchased a new position in Flywire during the first quarter valued at $38,000. IFP Advisors Inc grew its stake in Flywire by 168.7% during the third quarter. IFP Advisors Inc now owns 2,483 shares of the company’s stock valued at $43,000 after acquiring an additional 1,559 shares in the last quarter. Finally, Sterling Capital Management LLC increased its holdings in Flywire by 592.3% in the 3rd quarter. Sterling Capital Management LLC now owns 3,884 shares of the company’s stock valued at $68,000 after acquiring an additional 3,323 shares during the last quarter. Institutional investors own 95.90% of the company’s stock.

Flywire Company Profile

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.