Truist Financial Issues Positive Forecast for Flywire (NASDAQ:FLYW) Stock Price

Flywire (NASDAQ:FLYW) had its target price boosted by Truist Financial from $19.00 to $23.00 in a report issued on Wednesday,Benzinga reports. They currently have a hold rating on the stock.

A number of other research analysts also recently weighed in on the company. B. Riley Financial reiterated a “buy” rating and set a $25.00 price target (up from $24.00) on shares of Flywire in a report on Wednesday, November 4th. JPMorgan Chase & Co. increased their price objective on Flywire from $20.00 to $23.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 4th. The Goldman Sachs Group restated a “neutral” rating and set a $22.00 price objective on shares of Flywire in a research report on Wednesday, August 5th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $25.00 target price on shares of Flywire in a research note on Wednesday, September 30th. Finally, Stephens began coverage on Flywire in a report on Friday, October 16th. They issued an “equal weight” rating and a $20.00 target price on the stock. Seven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $22.58.

Flywire Stock Performance

Shares of NASDAQ:FLYW opened at $22.25 on Wednesday. Flywire has a one year low of $10.55 and a one year high of $22.59. The company has a market capitalization of $2.71 billion, a PE ratio of 37.08, a price-to-earnings-growth ratio of 0.89 and a beta of 1.32. The stock has a fifty day moving average of $18.67 and a 200-day moving average of $15.82.

Flywire (NASDAQ:FLYW) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.26. Flywire had a return on equity of 9.25% and a net margin of 10.34%. The business had revenue of $250.30 million during the quarter, compared to analyst estimates of $233.25 million. During the same quarter last year, the company posted $0.23 EPS. Flywire’s revenue for the quarter was up 25.1% on a year-over-year basis. As a group, research analysts forecast that Flywire will post 0.64 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Voss Capital, Lp sold 172,973 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $19.19, for a total value of $3,319,351.87. Following the transaction, the insider owned 369,168 shares in the company, valued at approximately $7,084,333.92. This represents a 31.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider David R. King sold 55,325 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $20.05, for a total value of $1,109,266.25. Following the completion of the transaction, the insider owned 147,079 shares in the company, valued at $2,948,933.95. This represents a 27.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 653,996 shares of company stock valued at $12,466,115 in the last three months. Insiders own 5.00% of the company’s stock.

Institutional Trading of Flywire

A number of institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC lifted its stake in shares of Flywire by 30.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 5,986 shares of the company’s stock valued at $105,000 after purchasing an additional 1,403 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of Flywire by 168.7% during the 3rd quarter. IFP Advisors Inc now owns 2,483 shares of the company’s stock valued at $43,000 after acquiring an additional 1,559 shares during the last quarter. Essential Partners LLC increased its holdings in shares of Flywire by 219.1% during the 1st quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock valued at $27,000 after acquiring an additional 1,571 shares during the last quarter. Nykredit A S bought a new position in shares of Flywire in the 2nd quarter valued at approximately $29,000. Finally, Fifth Third Bancorp raised its stake in shares of Flywire by 4.2% in the 3rd quarter. Fifth Third Bancorp now owns 45,556 shares of the company’s stock valued at $797,000 after acquiring an additional 1,839 shares in the last quarter. 95.90% of the stock is currently owned by institutional investors and hedge funds.

About Flywire

Flywire Corporation is a global payments and software company that helps businesses and institutions manage domestic and cross-border payments. Its platform connects payment processing with organizations’ existing systems and supports multiple currencies and local payment methods. The company serves customers in sectors including education, healthcare, travel and business-to-business services. Its offerings help organizations collect payments from customers and manage related payment workflows, including international transactions.