Wall Street Zen Downgrades Flywire (NASDAQ:FLYW) to Hold

Flywire (NASDAQ:FLYW) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

A number of other analysts have also commented on the stock. Wolfe Research reiterated an “outperform” rating and issued a $19.00 price target on shares of Flywire in a research note on Wednesday, November 5th. Zacks Research upgraded shares of Flywire from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 19th. Truist Financial set a $17.00 target price on shares of Flywire in a research note on Tuesday, January 20th. Citigroup raised Flywire to a “hold” rating in a report on Thursday, October 23rd. Finally, The Goldman Sachs Group lifted their price objective on Flywire from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Six investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Flywire currently has a consensus rating of “Hold” and an average price target of $15.73.

Flywire Price Performance

FLYW opened at $13.75 on Friday. The firm has a market cap of $1.68 billion, a PE ratio of -687.16, a P/E/G ratio of 1.55 and a beta of 1.28. The stock has a 50-day moving average price of $14.06 and a 200-day moving average price of $13.20. 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 at Flywire

In related news, major shareholder Voss Capital, Lp acquired 181,121 shares of the firm’s stock in a transaction on Tuesday, December 30th. The shares were acquired at an average cost of $14.15 per share, for a total transaction of $2,562,862.15. Following the completion of the transaction, the insider directly owned 9,625,009 shares in the company, valued at approximately $136,193,877.35. This trade represents a 1.92% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Peter Butterfield sold 13,327 shares of the firm’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $15.01, for a total value of $200,038.27. Following the completion of the sale, the general counsel owned 374,933 shares of the company’s stock, valued at approximately $5,627,744.33. This represents a 3.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 39,526 shares of company stock valued at $583,717 in the last 90 days. Insiders own 4.40% of the company’s stock.

Institutional Trading of Flywire

Several institutional investors and hedge funds have recently made changes to their positions in FLYW. Nisa Investment Advisors LLC increased its holdings in Flywire by 194.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,279 shares of the company’s stock worth $38,000 after purchasing an additional 2,167 shares during the period. Covestor Ltd grew its position in shares of Flywire by 217.9% during the 3rd quarter. Covestor Ltd now owns 3,233 shares of the company’s stock worth $43,000 after buying an additional 2,216 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Flywire by 78.4% during the second quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock valued at $66,000 after buying an additional 2,497 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of Flywire in the third quarter valued at about $67,000. Finally, CWM LLC raised its holdings in shares of Flywire by 850.9% in the second quarter. CWM LLC now owns 6,447 shares of the company’s stock valued at $75,000 after acquiring an additional 5,769 shares in the last quarter. 95.90% of the stock is currently owned by institutional investors.

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.