Insider Selling: Flywire Co. (NASDAQ:FLYW) COO Sells $360,150.00 in Stock

Flywire Co. (NASDAQ:FLYW – Get Rating) COO Rob Orgel sold 15,000 shares of the business’s stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $24.01, for a total value of $360,150.00. Following the sale, the chief operating officer now directly owns 157,191 shares of the company’s stock, valued at approximately $3,774,155.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Rob Orgel also recently made the following trade(s):

• On Wednesday, March 15th, Rob Orgel sold 17,175 shares of Flywire stock. The shares were sold at an average price of $26.24, for a total value of $450,672.00.
• On Tuesday, January 17th, Rob Orgel sold 40,000 shares of Flywire stock. The shares were sold at an average price of $25.78, for a total value of $1,031,200.00.

Flywire Stock Performance

NASDAQ:FLYW opened at $28.02 on Friday. Flywire Co. has a one year low of $14.56 and a one year high of $32.88. The business’s 50-day simple moving average is $26.11 and its 200 day simple moving average is $23.69. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of -75.73 and a beta of 1.08.

Flywire (NASDAQ:FLYW – Get Rating) last released its quarterly earnings results on Tuesday, February 28th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.10. Flywire had a negative return on equity of 8.31% and a negative net margin of 13.88%. The business had revenue of $73.05 million for the quarter, compared to analysts’ expectations of $65.50 million. During the same quarter in the previous year, the firm posted ($0.11) earnings per share. The company’s revenue was up 42.1% compared to the same quarter last year. On average, equities research analysts predict that Flywire Co. will post -0.14 EPS for the current year.

Institutional Trading of Flywire

Several institutional investors and hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. raised its stake in Flywire by 35.1% during the fourth quarter. Victory Capital Management Inc. now owns 1,139,638 shares of the company’s stock valued at $27,887,000 after buying an additional 295,857 shares in the last quarter. Parallax Volatility Advisers L.P. acquired a new stake in Flywire during the fourth quarter valued at approximately $490,000. Truist Financial Corp acquired a new stake in Flywire during the fourth quarter valued at approximately $430,000. Alliancebernstein L.P. raised its stake in Flywire by 9.4% during the fourth quarter. Alliancebernstein L.P. now owns 5,709,945 shares of the company’s stock valued at $139,722,000 after buying an additional 488,622 shares in the last quarter. Finally, Utah Retirement Systems acquired a new stake in Flywire during the fourth quarter valued at approximately $537,000. Institutional investors and hedge funds own 79.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on FLYW shares. Truist Financial upped their target price on Flywire from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, January 20th. Citigroup upped their target price on Flywire from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, March 2nd. Wolfe Research upped their target price on Flywire from $28.00 to $29.00 in a research report on Thursday, January 5th. Morgan Stanley started coverage on Flywire in a research report on Monday, January 23rd. They issued an “equal weight” rating and a $26.00 target price for the company. Finally, Wells Fargo & Company upped their target price on Flywire from $30.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 1st. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $31.00.

About Flywire

(Get Rating)

Flywire Corporation, together with its subsidiaries, operates as a payment enablement and software company in the United States, Canada, and the United Kingdom, and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay.