Flywire (NASDAQ:FLYW) Stock Rating Reaffirmed as Outperform by Royal Bank Of Canada

Flywire (NASDAQ:FLYW)‘s stock had its “outperform” rating reissued by equities research analysts at Royal Bank Of Canada in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $25.00 price objective on the stock. Royal Bank Of Canada’s price target would indicate a potential upside of 42.21% from the stock’s current price.

A number of other research analysts also recently commented on FLYW. Seaport Research Partners reaffirmed a “buy” rating and set a $22.00 price objective on shares of Flywire in a research note on Monday, August 17th. Truist Financial upped their price objective on Flywire from $17.00 to $19.00 and gave the stock a “hold” rating in a report on Friday, August 14th. B. Riley Financial upped their price objective on Flywire from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. The Goldman Sachs Group restated a “neutral” rating and set a $22.00 price objective on shares of Flywire in a report on Wednesday, August 5th. Finally, Weiss Ratings upgraded Flywire from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, September 1st. Eight investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Flywire currently has an average rating of “Moderate Buy” and a consensus price target of $20.23.

Flywire Price Performance

FLYW traded up $0.25 during trading on Wednesday, hitting $17.58. The company’s stock had a trading volume of 736,415 shares, compared to its average volume of 1,902,510. The firm’s 50 day moving average price is $17.77 and its 200-day moving average price is $15.93. The stock has a market cap of $2.14 billion, a PE ratio of 67.64, a PEG ratio of 1.10 and a beta of 1.30. Flywire has a twelve month low of $10.55 and a twelve month high of $19.73.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The business had revenue of $163.80 million during the quarter, compared to analyst estimates of $156.47 million. Flywire had a net margin of 4.77% and a return on equity of 4.08%. The company’s revenue was up 27.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.10) earnings per share. Equities analysts anticipate that Flywire will post 0.4 earnings per share for the current year.

Insider Activity at Flywire

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

Hedge Funds Weigh In On Flywire

A number of hedge funds have recently added to or reduced their stakes in FLYW. Voss Capital LP boosted its position in shares of Flywire by 21.5% during 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 during the period. Wellington Management Group LLP lifted its position in shares of Flywire by 1.2% during the 2nd quarter. Wellington Management Group LLP now owns 5,340,579 shares of the company’s stock valued at $93,834,000 after acquiring an additional 64,998 shares during the last quarter. Jennison Associates LLC lifted its stake in Flywire by 19.9% during the first quarter. Jennison Associates LLC now owns 5,298,881 shares of the company’s stock valued at $61,679,000 after buying an additional 878,248 shares in the last quarter. Mangrove Partners IM LLC lifted its holdings in shares of Flywire by 2.8% in the fourth quarter. Mangrove Partners IM LLC now owns 2,984,076 shares of the company’s stock valued at $42,255,000 after purchasing an additional 82,383 shares in the last quarter. Finally, Wasatch Advisors LP purchased a new stake in shares of Flywire in the second quarter valued at $44,026,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

Flywire Company Profile

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.