Flywire (NASDAQ:FLYW) Given Buy Rating at BTIG Research

BTIG Research restated their buy rating on shares of Flywire (NASDAQ:FLYW) in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a $20.00 price objective on the stock.

Other research analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of Flywire from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Weiss Ratings raised shares of Flywire from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Morgan Stanley upped their price objective on shares of Flywire from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. The Goldman Sachs Group raised their price objective on Flywire from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $22.00 target price on shares of Flywire in a research report on Wednesday, May 27th. Nine investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.77.

Flywire Stock Performance

Shares of NASDAQ FLYW opened at $17.47 on Tuesday. Flywire has a fifty-two week low of $10.10 and a fifty-two week high of $18.98. The firm has a market capitalization of $2.16 billion, a PE ratio of 75.96, a price-to-earnings-growth ratio of 1.84 and a beta of 1.32. The stock’s 50-day simple moving average is $16.47 and its 200-day simple moving average is $14.16.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.07. The firm had revenue of $184.00 million during the quarter, compared to the consensus estimate of $170.24 million. Flywire had a return on equity of 3.78% and a net margin of 4.45%.The firm’s quarterly revenue was up 40.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.03) earnings per share. On average, sell-side analysts forecast that Flywire will post 0.28 earnings per share for the current fiscal year.

Insider Transactions at Flywire

In related news, CEO Michael Massaro sold 50,000 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $15.26, for a total transaction of $763,000.00. Following the completion of the sale, the chief executive officer owned 2,678,051 shares in the company, valued at $40,867,058.26. This represents a 1.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Phillip John Riese sold 5,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $15.43, for a total transaction of $77,150.00. Following the transaction, the director directly owned 234,493 shares in the company, valued at $3,618,226.99. The trade was a 2.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 410,391 shares of company stock worth $6,700,493 over the last 90 days. Company insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Flywire

Several institutional investors have recently bought and sold shares of FLYW. Voss Capital LP raised its holdings in Flywire by 21.5% during the fourth quarter. Voss Capital LP now owns 11,750,000 shares of the company’s stock worth $166,380,000 after purchasing an additional 2,080,202 shares in the last quarter. Jennison Associates LLC boosted its holdings in Flywire by 19.9% in the 1st quarter. Jennison Associates LLC now owns 5,298,881 shares of the company’s stock valued at $61,679,000 after purchasing an additional 878,248 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Flywire by 43.8% in the 4th quarter. Wellington Management Group LLP now owns 4,828,197 shares of the company’s stock valued at $68,367,000 after purchasing an additional 1,470,011 shares in the last quarter. Mangrove Partners IM LLC increased its position in Flywire by 2.8% during the 4th quarter. Mangrove Partners IM LLC now owns 2,984,076 shares of the company’s stock worth $42,255,000 after purchasing an additional 82,383 shares during the period. Finally, Wasatch Advisors LP purchased a new position in shares of Flywire during the 2nd quarter worth approximately $44,026,000. 95.90% of the stock is owned by institutional investors and hedge funds.

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.