Wall Street Zen Downgrades Flywire (NASDAQ:FLYW) to Hold

Flywire (NASDAQ:FLYW) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other equities research analysts also recently commented on the stock. Truist Financial reduced their price objective on shares of Flywire from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Flywire in a research report on Thursday, January 22nd. The Goldman Sachs Group reduced their price target on Flywire from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, February 25th. B. Riley Financial lifted their price target on Flywire from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Finally, Royal Bank Of Canada upped their price objective on Flywire from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Six investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $15.58.

Flywire Stock Performance

Shares of FLYW opened at $11.36 on Friday. The stock has a market capitalization of $1.38 billion, a P/E ratio of 113.61, a P/E/G ratio of 1.03 and a beta of 1.28. Flywire has a 1 year low of $8.20 and a 1 year high of $15.25. The company’s fifty day moving average is $12.24 and its two-hundred day moving average is $13.20.

Flywire (NASDAQ:FLYW) last released its earnings results on Tuesday, February 24th. The company reported $105.55 EPS for the quarter, topping the consensus estimate of ($0.01) by $105.56. Flywire had a net margin of 2.17% and a return on equity of 2.76%. The company had revenue of $157.54 million during the quarter, compared to analysts’ expectations of $144.96 million. During the same quarter last year, the business earned ($0.12) EPS. The business’s revenue was up 34.0% on a year-over-year basis. Sell-side analysts predict that Flywire will post 0.14 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Peter Butterfield sold 13,327 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $15.01, for a total transaction of $200,038.27. Following the sale, the general counsel owned 374,933 shares of the company’s stock, valued at $5,627,744.33. The trade was a 3.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Phillip John Riese sold 16,612 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The stock was 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 in the company, valued at approximately $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. Over the last three months, insiders have purchased 251,112 shares of company stock worth $3,477,834 and have sold 38,948 shares worth $568,115. 4.40% of the stock is currently owned by company insiders.

Institutional Trading of Flywire

A number of institutional investors have recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Flywire by 3.4% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 24,086 shares of the company’s stock valued at $326,000 after buying an additional 800 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Flywire by 13.6% in the 4th quarter. Royal Bank of Canada now owns 9,025 shares of the company’s stock worth $128,000 after buying an additional 1,081 shares in the last quarter. Covestor Ltd boosted its position in shares of Flywire by 217.9% in the 3rd quarter. Covestor Ltd now owns 3,233 shares of the company’s stock worth $43,000 after buying an additional 2,216 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in Flywire in the 4th quarter valued at about $32,000. Finally, Daiwa Securities Group Inc. grew its stake in Flywire by 78.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock valued at $66,000 after acquiring an additional 2,497 shares during the last quarter. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

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.