Flywire Corp executive sells over $82,000 in company stock

In a recent transaction on September 3, Rob Orgel, the President and COO of Flywire Corp (NASDAQ:FLYW), sold 4,552 shares of the company's stock. The sale was executed at an average price of $18.043 per share, resulting in a total value of $82,131. This sale was part of an automatic transaction to cover tax withholding obligations related to the settlement of certain time-based restricted stock unit awards.

Following the transaction, Orgel's direct ownership in the company adjusted to 477,472 shares. This adjustment includes an acquisition of 628 shares under Flywire's Employee Stock Purchase Plan, as noted in the footnotes of the filing.

Flywire Corp, a leader in global payment and receivables solutions, has seen its stock price fluctuate in recent months. Despite these changes, company insiders like Orgel play a significant role in how the market perceives the stock's future movements.

Investors often keep a close eye on insider transactions as they may provide insights into the company's performance and insider perspectives on the stock's valuation. However, it's important to note that such transactions do not necessarily indicate future performance and should be considered as part of a broader investment strategy.

The details of these transactions are publicly available and were filed with the Securities and Exchange Commission on September 5, 2024.

In other recent news, Flywire Corporation reported strong financial results for the second quarter of 2024. Revenue, excluding ancillary services, saw a 26% year-over-year increase, reaching $99.9 million. The adjusted gross profit mirrored this growth, standing at $63.4 million, while the adjusted EBITDA experienced a significant uptick, rising by $5.9 million year-over-year to $5.8 million.

In addition to these robust financial results, Flywire also announced the acquisition of Invoiced, a SaaS platform for B2B accounts receivable, and initiated a $150 million share buyback program. Despite facing challenges in the Canadian market, the company exceeded its adjusted EBITDA guidance and increased its full-year adjusted EBITDA margin expectations.

Seaport Global Securities maintained a Buy rating on Flywire, with a steady price target of $26.00. The firm considered various scenarios for Flywire's performance in 2025, including Base, Bear, and Bull Cases, each exploring different revenue and EBITDA possibilities. According to Seaport, Flywire's robust growth outside of Canada and the recovery of its operations in the same region are critical factors for investors.

Flywire remains optimistic about long-term growth potential in Canada and plans to leverage global distribution capabilities with the Invoiced acquisition. These are among the recent developments that have led to a pipeline growth exceeding 50% YoY, particularly in the travel vertical which saw over 55% growth YoY.

InvestingPro Insights

Flywire Corp (NASDAQ:FLYW) has been navigating through turbulent market conditions, as reflected in the recent insider transaction by the company's President and COO, Rob Orgel. To provide investors with a more comprehensive view, InvestingPro offers several key metrics and insights that could influence perceptions of the company's financial health and future prospects.

InvestingPro data indicates that Flywire's market capitalization stands at $2.19 billion, with a notably high Price/Earnings (P/E) ratio of -258.81, suggesting that investors are expecting future growth despite the company not being profitable in the last twelve months. This expectation is supported by an InvestingPro tip highlighting that analysts predict Flywire will become profitable this year. Additionally, the company's revenue growth has been robust, with a 27.09% increase over the last twelve months as of Q2 2024, which could signal a positive trajectory for the company's financial performance.

Another InvestingPro tip worth noting is that Flywire's liquid assets exceed its short-term obligations, which may provide some reassurance to investors about the company's ability to meet its immediate financial liabilities. This is particularly relevant given the stock's significant decline over the last six months, with a 34.42% drop in price total return. Despite this downturn, the company's gross profit margin remains strong at 63.49%, which could suggest efficient operations and cost management.

For those interested in deeper analysis and additional insights, InvestingPro offers a wealth of information including more InvestingPro tips, with a total of six listed for Flywire. These tips, along with real-time metrics, are available to help investors make informed decisions. To explore these further, one can visit the dedicated InvestingPro page for Flywire at: https://www.investing.com/pro/FLYW.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.