Flywire (NASDAQ:FLYW) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Flywire (NASDAQ:FLYW) from a buy rating to a hold rating in a research note released on Saturday.

FLYW has been the topic of a number of other reports. Truist Financial dropped their price objective on shares of Flywire from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. UBS Group lowered their price target on Flywire from $15.50 to $14.00 and set a “neutral” rating on the stock in a report on Wednesday, February 25th. Royal Bank Of Canada boosted their price target on Flywire from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. Stephens raised Flywire from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $17.00 to $19.00 in a research note on Friday, January 16th. Finally, Morgan Stanley raised Flywire from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $15.00 to $17.00 in a research report on Monday, March 2nd. Six equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.58.

Flywire Trading Up 1.1%

FLYW stock opened at $11.49 on Friday. The company has a market capitalization of $1.39 billion, a P/E ratio of 114.91, a PEG ratio of 0.97 and a beta of 1.28. Flywire has a twelve month low of $8.20 and a twelve month high of $15.25. The business has a 50 day simple moving average of $12.19 and a 200-day simple moving average of $13.19.

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

Insider Activity

In other news, major shareholder Voss Capital, Lp acquired 25,000 shares of Flywire stock in a transaction that occurred on Friday, February 13th. The stock was purchased at an average price of $10.99 per share, for a total transaction of $274,750.00. Following the completion of the transaction, the insider directly owned 2,300,000 shares in the company, valued at approximately $25,277,000. This trade represents a 1.10% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Phillip John Riese sold 16,612 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $15.08, for a total transaction of $250,508.96. Following the completion of the sale, the director owned 234,493 shares of the company’s stock, valued at approximately $3,536,154.44. The trade was a 6.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 38,948 shares of company stock valued at $568,115 over the last quarter. Corporate insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Flywire

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Global Retirement Partners LLC acquired a new stake in shares of Flywire in the 4th quarter valued at approximately $32,000. Covestor Ltd boosted its stake in shares of Flywire by 217.9% in the third quarter. Covestor Ltd now owns 3,233 shares of the company’s stock valued at $43,000 after buying an additional 2,216 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in Flywire during the third quarter worth $67,000. Daiwa Securities Group Inc. raised its position in Flywire by 78.4% in the second quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock worth $66,000 after acquiring an additional 2,497 shares in the last quarter. Finally, Royal Bank of Canada raised its position in Flywire by 13.6% in the fourth quarter. Royal Bank of Canada now owns 9,025 shares of the company’s stock worth $128,000 after acquiring an additional 1,081 shares in the last quarter. Institutional investors and hedge funds own 95.90% of the company’s stock.

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.