Flywire (NASDAQ:FLYW) Price Target Lowered to $16.00 at Truist Financial

Flywire (NASDAQ:FLYW) had its price target decreased by Truist Financial from $17.00 to $16.00 in a research report report published on Tuesday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other brokerages have also recently issued reports on FLYW. The Goldman Sachs Group reduced their target price on Flywire from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, February 25th. Stephens raised shares of Flywire from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $17.00 to $19.00 in a research note on Friday, January 16th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Flywire in a research note on Thursday, January 22nd. Morgan Stanley upgraded shares of Flywire from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $15.00 to $17.00 in a research report on Monday. Finally, Wolfe Research restated an “outperform” rating and issued a $19.00 price target on shares of Flywire in a report on Wednesday, November 5th. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $15.58.

Flywire Price Performance

FLYW opened at $12.56 on Tuesday. The firm has a 50 day simple moving average of $12.87 and a 200 day simple moving average of $13.25. Flywire has a fifty-two week low of $8.20 and a fifty-two week high of $15.25. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 125.61, a price-to-earnings-growth ratio of 1.29 and a beta of 1.28.

Flywire (NASDAQ:FLYW) last issued its earnings results on Tuesday, February 24th. The company reported $105.55 EPS for the quarter, beating 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 in the previous year, the company posted ($0.12) EPS. The business’s revenue for the quarter was up 34.0% compared to the same quarter last year. As a group, analysts expect that Flywire will post 0.14 EPS for the current year.

Insider Buying and Selling at Flywire

In related news, major shareholder Voss Capital, Lp acquired 181,121 shares of the company’s stock in a transaction dated Tuesday, December 30th. The shares were bought at an average cost of $14.15 per share, with a total value of $2,562,862.15. Following the completion of the transaction, the insider directly owned 9,625,009 shares of the company’s stock, valued at $136,193,877.35. This trade represents a 1.92% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Peter Butterfield sold 13,327 shares of the stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $15.01, for a total transaction of $200,038.27. Following the completion of the transaction, the general counsel directly owned 374,933 shares in the company, valued at approximately $5,627,744.33. This represents a 3.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have purchased 251,112 shares of company stock worth $3,477,834 and have sold 38,426 shares worth $567,215. Corporate insiders own 4.40% of the company’s stock.

Institutional Trading of Flywire

Several large investors have recently modified their holdings of the stock. GDS Wealth Management increased its holdings in Flywire by 9.0% in the 3rd quarter. GDS Wealth Management now owns 1,039,320 shares of the company’s stock valued at $14,072,000 after buying an additional 85,411 shares during the period. Norges Bank acquired a new stake in shares of Flywire during the 2nd quarter worth approximately $2,334,000. Walleye Capital LLC raised its position in Flywire by 206.0% during the second quarter. Walleye Capital LLC now owns 462,665 shares of the company’s stock valued at $5,413,000 after purchasing an additional 311,448 shares in the last quarter. Pekin Hardy Strauss Inc. bought a new stake in Flywire during the second quarter worth $421,000. Finally, First Eagle Investment Management LLC bought a new stake in Flywire during the second quarter worth $1,363,000. 95.90% of the stock is 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.