Flywire (NASDAQ:FLYW) Stock Rating Upgraded by Wall Street Zen

Flywire (NASDAQ:FLYW) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

A number of other brokerages have also weighed in on FLYW. B. Riley boosted their price objective on shares of Flywire from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, January 9th. Weiss Ratings reissued a “sell (d)” rating on shares of Flywire in a report on Wednesday, October 8th. Citigroup upgraded Flywire to a “hold” rating in a research note on Thursday, October 23rd. Stephens raised Flywire from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $17.00 to $19.00 in a research report on Friday. Finally, Wolfe Research reiterated an “outperform” rating and issued a $19.00 price objective on shares of Flywire in a report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $15.65.

Flywire Price Performance

FLYW opened at $13.79 on Friday. The firm has a market cap of $1.68 billion, a PE ratio of -689.16, a P/E/G ratio of 1.56 and a beta of 1.28. The stock has a 50-day moving average price of $14.07 and a 200-day moving average price of $13.13. Flywire has a 1 year low of $8.20 and a 1 year high of $21.31. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.53 and a quick ratio of 1.53.

Flywire (NASDAQ:FLYW) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. The business had revenue of $194.10 million during the quarter, compared to analyst estimates of $180.07 million. Flywire had a negative net margin of 0.42% and a positive return on equity of 0.80%. Flywire’s revenue was up 27.6% compared to the same quarter last year. During the same period last year, the business earned $0.30 EPS. Sell-side analysts predict that Flywire will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Peter Butterfield sold 13,327 shares of the company’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $15.01, for a total transaction of $200,038.27. Following the completion of the sale, the general counsel owned 374,933 shares in the company, valued at approximately $5,627,744.33. This represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Phillip John Riese sold 16,612 shares of the stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $15.08, for a total value of $250,508.96. Following the completion of the transaction, the director directly owned 234,493 shares in the company, valued at approximately $3,536,154.44. This represents a 6.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 39,526 shares of company stock valued at $583,717 over the last 90 days. Company insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Flywire

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Voss Capital LP increased its holdings in Flywire by 176.0% during the second quarter. Voss Capital LP now owns 8,100,000 shares of the company’s stock valued at $94,770,000 after buying an additional 5,165,014 shares during the last quarter. Divisadero Street Capital Management LP grew its position in shares of Flywire by 178.0% during the 2nd quarter. Divisadero Street Capital Management LP now owns 4,784,654 shares of the company’s stock valued at $55,980,000 after acquiring an additional 3,063,518 shares during the period. Mangrove Partners IM LLC purchased a new stake in shares of Flywire in the 3rd quarter worth $39,289,000. Azora Capital LP bought a new position in Flywire in the 2nd quarter worth $33,355,000. Finally, Wellington Management Group LLP lifted its position in Flywire by 173.3% during the third quarter. Wellington Management Group LLP now owns 3,358,186 shares of the company’s stock valued at $45,470,000 after purchasing an additional 2,129,514 shares in the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Flywire Company Profile

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.