Flywire (NASDAQ:FLYW) Raised to Overweight at Stephens

Flywire (NASDAQ:FLYW) was upgraded by equities researchers at Stephens from an “equal weight” rating to an “overweight” rating in a research note issued on Friday, Marketbeat reports. The firm currently has a $19.00 price objective on the stock, up from their prior price objective of $17.00. Stephens’ target price would indicate a potential upside of 37.78% from the stock’s current price.

Several other research firms also recently weighed in on FLYW. UBS Group raised their target price on Flywire from $13.50 to $15.50 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Zacks Research raised Flywire from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 19th. B. Riley lifted their target price on shares of Flywire from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, January 9th. The Goldman Sachs Group upped their target price on shares of Flywire from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Finally, Wolfe Research reissued an “outperform” rating and issued a $19.00 price target on shares of Flywire in a research note on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $15.65.

Flywire Price Performance

Shares of Flywire stock 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. Flywire has a twelve month low of $8.20 and a twelve month high of $21.31. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.02. The business has a 50-day moving average price of $14.07 and a 200 day moving average price of $13.12.

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

Insider Transactions at Flywire

In other news, major shareholder Voss Capital, Lp purchased 181,121 shares of the stock in a transaction dated Tuesday, December 30th. The shares were purchased at an average price of $14.15 per share, with a total value of $2,562,862.15. Following the transaction, the insider owned 9,625,009 shares in the company, valued at $136,193,877.35. The trade was a 1.92% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Phillip John Riese sold 16,612 shares of the company’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $15.08, for a total transaction of $250,508.96. Following the completion of the sale, the director directly owned 234,493 shares of the company’s stock, valued at $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 have sold a total of 39,526 shares of company stock worth $583,717 in the last quarter. Company insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Flywire by 3.4% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 24,086 shares of the company’s stock worth $326,000 after acquiring an additional 800 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Flywire by 194.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,279 shares of the company’s stock valued at $38,000 after purchasing an additional 2,167 shares during the last quarter. Covestor Ltd grew its holdings 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 purchasing an additional 2,216 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Flywire by 78.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock worth $66,000 after purchasing an additional 2,497 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in Flywire by 2.3% in the 1st quarter. Rhumbline Advisers now owns 169,553 shares of the company’s stock valued at $1,611,000 after buying an additional 3,732 shares during the period. 95.90% of the stock is currently owned by institutional investors and hedge funds.

About Flywire

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.