Flywire (NASDAQ:FLYW) Cut to Hold at Wall Street Zen

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

A number of other research analysts have also weighed in on FLYW. Stephens upgraded Flywire from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $17.00 to $19.00 in a research report on Friday, January 16th. Wolfe Research reissued an “outperform” rating and issued a $19.00 price objective on shares of Flywire in a research report on Wednesday, November 5th. UBS Group boosted their target price on shares of Flywire from $13.50 to $15.50 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. The Goldman Sachs Group raised 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. Finally, Citigroup upgraded shares of Flywire to a “hold” rating in a report on Thursday, October 23rd. Six research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Flywire currently has a consensus rating of “Hold” and an average price target of $15.73.

Flywire Price Performance

NASDAQ FLYW opened at $13.73 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.53 and a current ratio of 1.53. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of -686.16, a PEG ratio of 1.55 and a beta of 1.28. The stock has a 50-day moving average of $14.06 and a 200 day moving average of $13.18. Flywire has a one year low of $8.20 and a one year high of $21.31.

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

Insider Buying and Selling

In related news, 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 value of $250,508.96. Following the completion of the sale, the director owned 234,493 shares of the company’s stock, valued at approximately $3,536,154.44. This represents a 6.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 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 sale, the general counsel directly owned 374,933 shares of the company’s stock, valued at approximately $5,627,744.33. This trade represents a 3.43% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 39,526 shares of company stock worth $583,717. 4.40% of the stock is owned by corporate insiders.

Institutional Trading of Flywire

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

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.