Flywire Corporation (NASDAQ:FLYW) Given Average Recommendation of “Hold” by Analysts

Shares of Flywire Corporation (NASDAQ:FLYW) have been assigned an average recommendation of “Hold” from the fourteen research firms that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $15.5833.

A number of equities research analysts recently issued reports on the company. Stephens upgraded Flywire from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $17.00 to $19.00 in a research note on Friday, January 16th. Zacks Research upgraded shares of Flywire from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 19th. UBS Group reduced their target price on shares of Flywire from $15.50 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. Royal Bank Of Canada upped their price target on shares of Flywire from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Finally, Citigroup cut their price objective on shares of Flywire from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday, February 26th.

Insiders Place Their Bets

In other news, Director Phillip John Riese sold 16,612 shares of the firm’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $15.08, for a total value of $250,508.96. Following the completion of the transaction, the director directly owned 234,493 shares of the company’s stock, valued at $3,536,154.44. This trade represents a 6.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Peter Butterfield sold 9,009 shares of Flywire stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $13.05, for a total value of $117,567.45. Following the completion of the transaction, the general counsel owned 532,962 shares of the company’s stock, valued at approximately $6,955,154.10. This trade represents a 1.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have purchased 251,112 shares of company stock worth $3,477,834 and have sold 39,315 shares worth $573,620. Company insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Voss Capital LP lifted its holdings in shares of Flywire by 21.5% in the fourth quarter. Voss Capital LP now owns 11,750,000 shares of the company’s stock worth $166,380,000 after buying an additional 2,080,202 shares in the last quarter. Wellington Management Group LLP grew its stake in Flywire by 43.8% during the fourth quarter. Wellington Management Group LLP now owns 4,828,197 shares of the company’s stock valued at $68,367,000 after acquiring an additional 1,470,011 shares in the last quarter. Divisadero Street Capital Management LP increased its holdings in Flywire by 178.0% during the 2nd quarter. Divisadero Street Capital Management LP now owns 4,784,654 shares of the company’s stock worth $55,980,000 after acquiring an additional 3,063,518 shares during the period. Jennison Associates LLC increased its holdings in Flywire by 35.2% during the 4th quarter. Jennison Associates LLC now owns 4,420,633 shares of the company’s stock worth $62,596,000 after acquiring an additional 1,150,802 shares during the period. Finally, Mangrove Partners IM LLC lifted its stake in Flywire by 2.8% in the 4th quarter. Mangrove Partners IM LLC now owns 2,984,076 shares of the company’s stock worth $42,255,000 after purchasing an additional 82,383 shares in the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Flywire Price Performance

NASDAQ:FLYW opened at $12.10 on Thursday. The business has a fifty day simple moving average of $12.55 and a two-hundred day simple moving average of $13.25. Flywire has a 1 year low of $8.20 and a 1 year high of $15.25. The company has a market capitalization of $1.47 billion, a P/E ratio of 121.01, a P/E/G ratio of 1.10 and a beta of 1.28.

Flywire (NASDAQ:FLYW) last issued its quarterly 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. The firm had revenue of $157.54 million for the quarter, compared to analysts’ expectations of $144.96 million. Flywire had a return on equity of 2.76% and a net margin of 2.17%.The business’s revenue for the quarter was up 34.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.12) EPS. As a group, analysts anticipate that Flywire will post 0.14 earnings per share for the current year.

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.