Flywire (NASDAQ:FLYW) Earns “Outperform” Rating from Royal Bank Of Canada

Flywire (NASDAQ:FLYW)‘s stock had its “outperform” rating reissued by equities researchers at Royal Bank Of Canada in a report released on Wednesday, Benzinga reports. They currently have a $25.00 price objective on the stock. Royal Bank Of Canada’s price target points to a potential upside of 41.88% from the company’s previous close.

FLYW has been the topic of a number of other reports. BTIG Research reiterated a “buy” rating on shares of Flywire in a research report on Thursday, September 10th. Morgan Stanley restated an “overweight” rating and set a $22.00 target price on shares of Flywire in a report on Wednesday, August 5th. Wolfe Research raised their price target on Flywire from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 25th. Citigroup restated a “neutral” rating on shares of Flywire in a research note on Thursday, August 6th. Finally, Wall Street Zen downgraded shares of Flywire from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Eight research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Flywire has an average rating of “Moderate Buy” and an average target price of $20.23.

Flywire Stock Performance

Shares of NASDAQ FLYW traded up $0.29 during trading hours on Wednesday, hitting $17.62. The stock had a trading volume of 911,670 shares, compared to its average volume of 1,902,890. The company has a market capitalization of $2.14 billion, a P/E ratio of 67.81, a P/E/G ratio of 1.10 and a beta of 1.30. The firm’s 50-day moving average price is $17.77 and its two-hundred day moving average price is $15.93. Flywire has a 52 week low of $10.55 and a 52 week high of $19.73.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, August 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). The company had revenue of $163.80 million for the quarter, compared to the consensus estimate of $156.47 million. Flywire had a return on equity of 4.08% and a net margin of 4.77%.The firm’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.10) EPS. As a group, analysts expect that Flywire will post 0.4 EPS for the current fiscal year.

Insider Transactions at Flywire

In other Flywire news, General Counsel Peter Butterfield sold 12,156 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $17.99, for a total value of $218,686.44. Following the completion of the sale, the general counsel owned 601,022 shares of the company’s stock, valued at $10,812,385.78. This trade represents a 1.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Voss Capital, Lp sold 44,768 shares of Flywire stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $18.78, for a total transaction of $840,743.04. Following the sale, the insider directly owned 11,069,321 shares of the company’s stock, valued at $207,881,848.38. This represents a 0.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 555,718 shares of company stock worth $10,554,333. Insiders own 5.00% of the company’s stock.

Institutional Trading of Flywire

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its stake in shares of Flywire by 110.8% during the 1st quarter. Renaissance Technologies LLC now owns 887,200 shares of the company’s stock worth $10,327,000 after acquiring an additional 466,300 shares in the last quarter. Voss Capital LP lifted its position in Flywire by 21.5% in the fourth quarter. Voss Capital LP now owns 11,750,000 shares of the company’s stock valued at $166,380,000 after acquiring an additional 2,080,202 shares during the last quarter. North Reef Capital Management LP lifted its position in Flywire by 83.3% in the first quarter. North Reef Capital Management LP now owns 1,100,000 shares of the company’s stock valued at $12,804,000 after acquiring an additional 499,999 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Flywire by 103.3% in the fourth quarter. BNP Paribas Financial Markets now owns 1,023,958 shares of the company’s stock valued at $14,499,000 after buying an additional 520,256 shares during the last quarter. Finally, Squarepoint Ops LLC raised its holdings in shares of Flywire by 158.4% in the second quarter. Squarepoint Ops LLC now owns 539,307 shares of the company’s stock valued at $9,476,000 after buying an additional 330,622 shares during the last quarter. Institutional investors and hedge funds own 95.90% of the company’s stock.

About Flywire

Flywire Corporation (NASDAQ: FLYW) is a global payments-enablement and software company that helps organizations accept, process and manage domestic and international payments. Its platform is designed to simplify complex payment workflows, support multiple currencies and payment methods, and provide customers with tools for reconciliation, reporting and payment tracking.

The company serves institutions and businesses in sectors including education, health care, travel and business-to-business payments.