Flywire (NASDAQ:FLYW) Trading Up 6.5% – Should You Buy?

Shares of Flywire Corporation (NASDAQ:FLYW) rose 6.5% during trading on Wednesday . The stock traded as high as $18.73 and last traded at $18.7260. 974,266 shares were traded during trading, a decline of 50% from the average session volume of 1,957,802 shares. The stock had previously closed at $17.59.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. UBS Group upped their target price on shares of Flywire from $14.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Truist Financial raised their price target on Flywire from $16.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, May 19th. Weiss Ratings upgraded Flywire from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Citigroup upped their price objective on Flywire from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, Zacks Research cut Flywire from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. Nine research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.77.

Flywire Stock Down 0.5%

The firm’s fifty day moving average price is $16.40 and its 200 day moving average price is $14.08. The stock has a market cap of $2.31 billion, a PE ratio of 81.26, a P/E/G ratio of 1.92 and a beta of 1.32.

Flywire (NASDAQ:FLYW) last posted its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.07. The company had revenue of $184.00 million during the quarter, compared to analysts’ expectations of $170.24 million. Flywire had a net margin of 4.45% and a return on equity of 3.78%. Flywire’s quarterly revenue was up 40.9% on a year-over-year basis. During the same period last year, the company posted ($0.03) earnings per share. As a group, analysts anticipate that Flywire Corporation will post 0.28 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Phillip John Riese sold 37,921 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $16.87, for a total transaction of $639,727.27. Following the completion of the transaction, the director directly owned 234,493 shares of the company’s stock, valued at approximately $3,955,896.91. This represents a 13.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Massaro sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $15.26, for a total value of $763,000.00. Following the transaction, the chief executive officer owned 2,678,051 shares of the company’s stock, valued at $40,867,058.26. This represents a 1.83% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 410,391 shares of company stock valued at $6,700,493. 5.00% of the stock is owned by corporate insiders.

Institutional Trading of Flywire

Hedge funds have recently modified their holdings of the company. Essential Partners LLC grew its holdings in shares of Flywire by 219.1% in the first quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock valued at $27,000 after purchasing an additional 1,571 shares in the last quarter. Global Retirement Partners LLC bought a new stake in Flywire in the fourth quarter worth $32,000. KBC Group NV purchased a new stake in Flywire during the first quarter valued at $38,000. Leonteq Securities AG lifted its position in Flywire by 267.6% during the first 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 last quarter. Finally, Daiwa Securities Group Inc. lifted its position in Flywire by 78.4% during the second quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock valued at $66,000 after purchasing an additional 2,497 shares during the last quarter. 95.90% of the stock is owned by hedge funds and other 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.