Flywire (NASDAQ:FLYW) Given “Hold” Rating at Truist Financial

Truist Financial restated their hold rating on shares of Flywire (NASDAQ:FLYW) in a research note published on Friday morning, MarketBeat Ratings reports. They currently have a $17.00 price target on the stock, down from their previous price target of $18.00.

Other equities research analysts also recently issued research reports about the company. BTIG Research restated a “buy” rating and set a $20.00 target price on shares of Flywire in a research report on Tuesday. Weiss Ratings upgraded shares of Flywire from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Zacks Research cut shares of Flywire from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. Wall Street Zen downgraded shares of Flywire from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Finally, The Goldman Sachs Group upped their target price on shares of Flywire from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Eight analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $18.69.

Flywire Stock Down 1.5%

Flywire stock opened at $15.89 on Friday. The stock has a 50-day simple moving average of $16.47 and a 200 day simple moving average of $14.20. Flywire has a 12-month low of $10.10 and a 12-month high of $18.98. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 69.09, a P/E/G ratio of 1.65 and a beta of 1.32.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.07. Flywire had a net margin of 4.45% and a return on equity of 3.78%. The firm had revenue of $184.00 million for the quarter, compared to analyst estimates of $170.24 million. During the same quarter in the prior year, the firm earned ($0.03) EPS. The company’s revenue was up 40.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Flywire will post 0.28 EPS for the current year.

Insider Activity at Flywire

In other news, CEO Michael Massaro sold 50,000 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $15.26, for a total value of $763,000.00. Following the sale, the chief executive officer directly owned 2,678,051 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Also, General Counsel Peter Butterfield sold 6,528 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $15.08, for a total value of $98,442.24. Following the completion of the sale, the general counsel owned 652,152 shares in the company, valued at $9,834,452.16. This represents a 0.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 410,391 shares of company stock worth $6,700,493 over the last ninety days. Company insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Flywire

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Essential Partners LLC grew its stake in Flywire by 219.1% in the 1st quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock valued at $27,000 after buying an additional 1,571 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in Flywire during the 4th quarter worth approximately $32,000. KBC Group NV acquired a new stake in Flywire during the 1st quarter worth approximately $38,000. Leonteq Securities AG boosted its stake in Flywire by 267.6% in the 1st quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock valued at $41,000 after purchasing an additional 2,577 shares during the period. Finally, Daiwa Securities Group Inc. grew its holdings 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 buying an additional 2,497 shares in the last quarter. 95.90% of the stock is owned by institutional investors.

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.