Flywire (NASDAQ:FLYW) Sets New 1-Year High – Time to Buy?

Shares of Flywire Corporation (NASDAQ:FLYW) reached a new 52-week high during mid-day trading on Friday. The company traded as high as $19.79 and last traded at $19.69, with a volume of 1,809,111 shares changing hands. The stock had previously closed at $19.29.

Analyst Ratings Changes

Several research firms have issued reports on FLYW. Stephens assumed coverage on Flywire in a report on Friday, October 16th. They set an “equal weight” rating and a $20.00 price objective on the stock. UBS Group reissued a “neutral” rating on shares of Flywire in a research report on Thursday, September 17th. Wolfe Research boosted their price objective on shares of Flywire from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 25th. Weiss Ratings upgraded shares of Flywire from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, September 1st. Finally, Morgan Stanley boosted their price target on Flywire from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Wednesday. Seven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $20.46.

Flywire Trading Up 2.1%

The stock has a market capitalization of $2.40 billion, a P/E ratio of 75.73, a P/E/G ratio of 1.21 and a beta of 1.35. The firm’s fifty day moving average is $18.28 and its 200-day moving average is $15.50.

Flywire (NASDAQ:FLYW) last issued its earnings results on Tuesday, August 4th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.05). Flywire had a net margin of 4.77% and a return on equity of 4.08%. The business had revenue of $163.80 million for the quarter, compared to the consensus estimate of $156.47 million. During the same quarter in the previous year, the firm posted ($0.10) EPS. The business’s revenue was up 27.2% on a year-over-year basis. Equities research analysts expect that Flywire Corporation will post 0.40 EPS for the current year.

Insider Buying and Selling

In other Flywire news, major shareholder Voss Capital, Lp sold 44,768 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $18.78, for a total value of $840,743.04. Following the completion of the transaction, the insider directly owned 11,069,321 shares in the company, valued at approximately $207,881,848.38. This trade represents a 0.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Peter Butterfield sold 12,156 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $17.99, for a total transaction of $218,686.44. Following the transaction, the general counsel owned 601,022 shares of the company’s stock, valued at approximately $10,812,385.78. The trade was a 1.98% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 592,618 shares of company stock valued at $11,230,341. Company insiders own 5.00% of the company’s stock.

Institutional Trading of Flywire

Several institutional investors and hedge funds have recently bought and sold shares of FLYW. Nykredit A S purchased a new stake in shares of Flywire during the second quarter valued at approximately $29,000. Essential Partners LLC raised its position in Flywire by 219.1% in the 1st quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock worth $27,000 after buying an additional 1,571 shares during the last quarter. IFP Advisors Inc lifted its holdings in Flywire by 168.7% in the third quarter. IFP Advisors Inc now owns 2,483 shares of the company’s stock valued at $43,000 after acquiring an additional 1,559 shares during the period. KBC Group NV purchased a new stake in shares of Flywire in the first quarter worth $38,000. Finally, Leonteq Securities AG raised its holdings in shares of Flywire by 267.6% during the 1st quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock worth $41,000 after acquiring an additional 2,577 shares in the last quarter. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Flywire Company Profile

Flywire Corp. (NASDAQ: FLYW) is a global payments and software company that helps organizations receive and manage payments from customers and clients in multiple countries and currencies. Its platform is designed to simplify complex, cross-border transactions while providing payment tracking, reconciliation and related accounts-receivable capabilities.

The company serves several major verticals, including education, healthcare, travel and business-to-business payments. Its products and services include international and domestic payment processing, digital billing and invoicing, payment plans, embedded payment solutions and tools that help organizations automate reconciliation and improve the payment experience.

Flywire was founded in 2009 as peerTransfer and is headquartered in Boston, Massachusetts.