Flywire Co. (NASDAQ:FLYW) COO Sells $450,672.00 in Stock

Flywire Co. (NASDAQ:FLYW – Get Rating) COO Rob Orgel sold 17,175 shares of Flywire stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $26.24, for a total value of $450,672.00. Following the completion of the transaction, the chief operating officer now directly owns 275,751 shares in the company, valued at approximately $7,235,706.24. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Monday, March 13th, Rob Orgel sold 15,000 shares of Flywire stock. The stock was sold at an average price of $24.01, for a total value of $360,150.00.
• 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

Shares of FLYW opened at $28.02 on Friday. The company’s fifty day moving average is $26.11 and its 200-day moving average is $23.68. Flywire Co. has a 12 month low of $14.56 and a 12 month high of $32.88.

Flywire (NASDAQ:FLYW – Get Rating) last announced 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 net margin of 13.88% and a negative return on equity of 8.31%. The company had revenue of $73.05 million for the quarter, compared to analyst estimates of $65.50 million. During the same quarter in the prior year, the business posted ($0.11) EPS. Flywire’s quarterly revenue was up 42.1% on a year-over-year basis. Analysts expect that Flywire Co. will post -0.14 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. grew its stake in Flywire by 35.1% in the 4th 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 during the last quarter. Parallax Volatility Advisers L.P. acquired a new position in Flywire in the 4th quarter valued at $490,000. Truist Financial Corp acquired a new position in Flywire in the 4th quarter valued at $430,000. Alliancebernstein L.P. grew its stake in Flywire by 9.4% in the 4th 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 during the last quarter. Finally, Utah Retirement Systems acquired a new position in Flywire in the 4th quarter valued at $537,000. Institutional investors and hedge funds own 79.06% of the company’s stock.

Analyst Ratings Changes

FLYW has been the topic of several research analyst reports. Raymond James lifted their target price on Flywire from $28.00 to $33.00 and gave the company a “strong-buy” rating in a research note on Wednesday, January 4th. Wells Fargo & Company lifted their target price on Flywire from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, March 1st. Citigroup lifted their target price on Flywire from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, March 2nd. Morgan Stanley initiated coverage on Flywire in a research note on Monday, January 23rd. They set an “equal weight” rating and a $26.00 target price on the stock. Finally, Wolfe Research lifted their target price on Flywire from $28.00 to $29.00 in a research note on Thursday, January 5th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $31.00.

Flywire Company Profile

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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.