Flywire Co. (NASDAQ:FLYW) Given Consensus Rating of “Hold” by Brokerages

Flywire Co. (NASDAQ:FLYW) has been assigned a consensus rating of “Hold” from the fifteen research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $17.00.

A number of analysts have issued reports on the company. Raymond James downgraded Flywire from a “strong-buy” rating to an “outperform” rating and decreased their price target for the stock from $29.00 to $17.00 in a report on Wednesday, February 26th. UBS Group downgraded Flywire from a “buy” rating to a “neutral” rating and lowered their price target for the company from $25.00 to $15.00 in a report on Wednesday, February 26th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $9.00 price target (down from $16.00) on shares of Flywire in a research note on Monday, April 14th. Royal Bank of Canada reduced their price objective on shares of Flywire from $25.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Finally, Morgan Stanley dropped their target price on shares of Flywire from $21.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th.

Insider Buying and Selling at Flywire

In related news, General Counsel Peter Butterfield sold 5,523 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $10.08, for a total transaction of $55,671.84. Following the completion of the transaction, the general counsel now directly owns 247,561 shares of the company’s stock, valued at $2,495,414.88. This represents a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gretchen Howard acquired 8,889 shares of the stock in a transaction on Thursday, February 27th. The stock was acquired at an average cost of $10.94 per share, for a total transaction of $97,245.66. Following the acquisition, the director now directly owns 30,770 shares in the company, valued at $336,623.80. This represents a 40.62 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Raymond James Financial Inc. purchased a new position in shares of Flywire in the 4th quarter valued at about $35,579,000. Voss Capital LP purchased a new position in Flywire in the fourth quarter valued at about $30,621,000. Teacher Retirement System of Texas acquired a new stake in shares of Flywire during the 4th quarter valued at approximately $24,363,000. Jennison Associates LLC boosted its stake in shares of Flywire by 53.0% during the 4th quarter. Jennison Associates LLC now owns 3,406,312 shares of the company’s stock worth $70,238,000 after acquiring an additional 1,179,562 shares in the last quarter. Finally, Wasatch Advisors LP grew its holdings in shares of Flywire by 62.1% in the 4th quarter. Wasatch Advisors LP now owns 2,741,644 shares of the company’s stock worth $56,533,000 after acquiring an additional 1,049,888 shares during the period. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Flywire Trading Up 0.6 %

FLYW opened at $8.88 on Monday. The stock’s 50-day moving average price is $11.58 and its 200 day moving average price is $16.88. Flywire has a 12-month low of $8.20 and a 12-month high of $23.40. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 59.20, a PEG ratio of 1.41 and a beta of 1.22.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The business had revenue of $112.80 million for the quarter, compared to analyst estimates of $118.85 million. Flywire had a return on equity of 2.49% and a net margin of 4.23%. On average, research analysts forecast that Flywire will post 0.14 earnings per share for the current year.

About Flywire

Flywire Corporation, together with its subsidiaries, operates as a payments enablement and software company in the United States and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay. The company’s platform facilitates payment flows across multiple currencies, payment types, and payment options, as well as provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.