Flywire Corporation (NASDAQ:FLYW) Receives Average Rating of “Hold” from Analysts

Flywire Corporation (NASDAQ:FLYW) has earned an average recommendation of “Hold” from the fourteen ratings firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $15.5833.

Several brokerages have recently weighed in on FLYW. The Goldman Sachs Group lowered their price target on shares of Flywire from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, February 25th. Morgan Stanley upgraded Flywire from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $15.00 to $17.00 in a report on Monday, March 2nd. Truist Financial reduced their price target on Flywire from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. UBS Group decreased their price objective on Flywire from $15.50 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. Finally, Wall Street Zen raised Flywire from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th.

Flywire Stock Performance

Shares of Flywire stock opened at $12.99 on Thursday. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 129.91, a price-to-earnings-growth ratio of 1.15 and a beta of 1.28. The stock has a 50 day moving average price of $12.73 and a 200-day moving average price of $13.28. Flywire has a one year low of $8.20 and a one year high of $15.25.

Flywire (NASDAQ:FLYW) last released its earnings results on Tuesday, February 24th. The company reported $105.55 earnings per share (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 firm had revenue of $157.54 million during the quarter, compared to analyst estimates 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 earnings per share for the current fiscal year.

Insider Transactions at Flywire

In related news, major shareholder Voss Capital, Lp acquired 25,000 shares of the business’s stock in a transaction dated Friday, February 13th. The shares were purchased at an average price of $10.99 per share, for a total transaction of $274,750.00. Following the completion of the acquisition, the insider directly owned 2,300,000 shares in the company, valued at $25,277,000. The trade was a 1.10% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Peter Butterfield sold 9,009 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $13.05, for a total transaction of $117,567.45. Following the completion of the transaction, the general counsel directly owned 532,962 shares of the company’s stock, valued at $6,955,154.10. The trade was a 1.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders acquired 251,112 shares of company stock valued at $3,477,834 and sold 39,315 shares valued at $573,620. Insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Flywire

Institutional investors have recently bought and sold shares of the business. GDS Wealth Management increased its position in shares of Flywire by 9.0% in the third 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 in the last quarter. Norges Bank purchased a new position in shares of Flywire during the 2nd quarter valued at approximately $2,334,000. Walleye Capital LLC lifted its position in shares of Flywire by 206.0% during the 2nd quarter. Walleye Capital LLC now owns 462,665 shares of the company’s stock valued at $5,413,000 after buying an additional 311,448 shares in the last quarter. Azora Capital LP acquired a new stake in Flywire in the 2nd quarter valued at $33,355,000. Finally, Jefferies Financial Group Inc. purchased a new stake in Flywire in the 2nd quarter worth $383,000. 95.90% of the stock is 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.