Flywire Corporation (NASDAQ:FLYW) Receives Average Rating of “Hold” from Brokerages

Shares of Flywire Corporation (NASDAQ:FLYW) have received an average rating of “Hold” from the thirteen ratings firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $16.1818.

FLYW has been the subject of a number of recent analyst reports. Stephens upgraded Flywire from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $17.00 to $19.00 in a research report on Friday, January 16th. Weiss Ratings restated a “sell (d)” rating on shares of Flywire in a research report on Tuesday, April 21st. The Goldman Sachs Group cut their price objective on Flywire from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, February 25th. UBS Group cut their price objective on Flywire from $15.50 to $14.00 and set a “neutral” rating for the company in a research report on Wednesday, February 25th. Finally, Truist Financial cut their price objective on Flywire from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd.

Flywire Price Performance

Flywire stock opened at $13.51 on Friday. The stock has a market capitalization of $1.64 billion, a PE ratio of 135.11, a price-to-earnings-growth ratio of 1.15 and a beta of 1.26. Flywire has a 12 month low of $9.35 and a 12 month high of $15.25. The business has a 50 day simple moving average of $12.51 and a 200-day simple moving average of $13.10.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $105.55 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $105.56. The business had revenue of $157.54 million during the quarter, compared to analysts’ expectations of $144.96 million. Flywire had a return on equity of 2.76% and a net margin of 2.17%.The business’s revenue was up 34.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.12) earnings per share. On average, equities research analysts anticipate that Flywire will post 0.35 EPS for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Peter Butterfield sold 9,009 shares of Flywire stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $13.05, for a total value of $117,567.45. Following the sale, the general counsel directly owned 532,962 shares of the company’s stock, valued at $6,955,154.10. The trade was a 1.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Voss Capital, Lp purchased 25,000 shares of the stock in a transaction dated Friday, February 13th. The stock was purchased at an average cost of $10.99 per share, for a total transaction of $274,750.00. Following the completion of the purchase, the insider directly owned 2,300,000 shares of the company’s stock, valued at approximately $25,277,000. The trade was a 1.10% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 4.40% of the company’s stock.

Institutional Trading of Flywire

A number of institutional investors have recently made changes to their positions in FLYW. Mangrove Partners IM LLC acquired a new stake in shares of Flywire in the third quarter worth approximately $39,289,000. Wellington Management Group LLP boosted its stake in shares of Flywire by 173.3% in the third quarter. Wellington Management Group LLP now owns 3,358,186 shares of the company’s stock worth $45,470,000 after acquiring an additional 2,129,514 shares during the last quarter. Voss Capital LP boosted its stake in shares of Flywire by 21.5% in the fourth quarter. Voss Capital LP now owns 11,750,000 shares of the company’s stock worth $166,380,000 after acquiring an additional 2,080,202 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Flywire by 35.2% in the fourth quarter. Jennison Associates LLC now owns 4,420,633 shares of the company’s stock worth $62,596,000 after acquiring an additional 1,150,802 shares during the last quarter. Finally, Cooper Creek Partners Management LLC acquired a new stake in shares of Flywire in the third quarter worth approximately $15,433,000. 95.90% of the stock is owned by institutional investors and hedge funds.

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.