Flywire’s (FLYW) Outperform Rating Reaffirmed at Royal Bank Of Canada

Flywire (NASDAQ:FLYW)‘s stock had its “outperform” rating restated by Royal Bank Of Canada in a note issued to investors 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 42.39% from the stock’s current price.

FLYW has been the topic of a number of other research reports. Weiss Ratings upgraded shares of Flywire from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, September 1st. Wolfe Research raised their target price 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. B. Riley Financial raised their target price on shares of Flywire from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Wall Street Zen lowered shares of Flywire from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, BTIG Research restated a “buy” rating on shares of Flywire in a research report on Thursday, September 10th. Eight equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.23.

Flywire Trading Up 1.3%

Shares of FLYW stock traded up $0.23 during trading hours on Wednesday, hitting $17.56. The company’s stock had a trading volume of 372,730 shares, compared to its average volume of 1,899,484. The business has a fifty day moving average of $17.77 and a 200-day moving average of $15.93. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 67.53, a P/E/G 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 released its quarterly 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). 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 firm’s revenue for the quarter was up 27.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.10) earnings per share. On average, equities analysts expect that Flywire will post 0.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other Flywire news, major shareholder Voss Capital, Lp sold 172,973 shares of Flywire stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $19.19, for a total value of $3,319,351.87. Following the transaction, the insider owned 369,168 shares in the company, valued at $7,084,333.92. This trade represents a 31.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Peter Butterfield sold 12,156 shares of Flywire stock in a transaction 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 transaction, the general counsel owned 601,022 shares in the company, valued at approximately $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. In the last quarter, insiders sold 555,718 shares of company stock worth $10,554,333. 5.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Flywire

A number of hedge funds have recently made changes to their positions in FLYW. SkyView Investment Advisors LLC purchased a new position in shares of Flywire in the 2nd quarter valued at $527,000. Integrated Wealth Concepts LLC purchased a new position in shares of Flywire in the 2nd quarter valued at $106,000. Squarepoint Ops LLC raised its stake in shares of Flywire by 158.4% in the 2nd quarter. Squarepoint Ops LLC now owns 539,307 shares of the company’s stock valued at $9,476,000 after acquiring an additional 330,622 shares during the period. Allworth Financial LP raised its stake in shares of Flywire by 126.8% in the 2nd quarter. Allworth Financial LP now owns 4,022 shares of the company’s stock valued at $71,000 after acquiring an additional 2,249 shares during the period. Finally, Waverly Advisors LLC raised its stake in shares of Flywire by 15.9% in the 2nd quarter. Waverly Advisors LLC now owns 79,243 shares of the company’s stock valued at $1,392,000 after acquiring an additional 10,870 shares during the period. Hedge funds and other institutional investors 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.