Flywire’s (FLYW) Buy Rating Reiterated at BTIG Research

BTIG Research reissued their buy rating on shares of Flywire (NASDAQ:FLYW) in a report released on Tuesday morning,Benzinga reports. The brokerage currently has a $20.00 price objective on the stock.

Other analysts have also recently issued reports about the company. Citigroup upped their price objective on Flywire from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. New Street Research set a $16.00 target price on shares of Flywire in a report on Thursday, May 21st. The Goldman Sachs Group boosted their price target on shares of Flywire from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Raymond James Financial reaffirmed an “outperform” rating and set a $22.00 price target on shares of Flywire in a research note on Wednesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Flywire to an “outperform” rating in a research report on Wednesday, May 27th. Nine analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.77.

Flywire Trading Down 2.5%

Shares of FLYW stock opened at $16.13 on Tuesday. Flywire has a 12-month low of $10.10 and a 12-month high of $18.98. The stock’s 50-day moving average price is $16.48 and its 200-day moving average price is $14.19. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 70.13, a price-to-earnings-growth ratio of 1.69 and a beta of 1.32.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.07. The company had revenue of $184.00 million during the quarter, compared to analyst estimates of $170.24 million. Flywire had a return on equity of 3.78% and a net margin of 4.45%.The firm’s revenue was up 40.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.03) earnings per share. As a group, research analysts predict that Flywire will post 0.28 EPS for the current fiscal year.

Insider Buying and Selling

In other Flywire news, COO Rob Orgel sold 178,980 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $17.00, for a total value of $3,042,660.00. Following the completion of the sale, the chief operating officer owned 959,061 shares of the company’s stock, valued at $16,304,037. This trade represents a 15.73% 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 sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Peter Butterfield sold 6,528 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $15.08, for a total value of $98,442.24. Following the transaction, the general counsel owned 652,152 shares of the company’s stock, valued at $9,834,452.16. This trade represents a 0.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 410,391 shares of company stock worth $6,700,493 over the last three months. 5.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Flywire

A number of large investors have recently bought and sold shares of FLYW. Wasatch Advisors LP bought a new position in Flywire in the 2nd quarter valued at $44,026,000. Handelsbanken Fonder AB lifted its position in shares of Flywire by 26.0% during the second quarter. Handelsbanken Fonder AB now owns 33,400 shares of the company’s stock worth $587,000 after purchasing an additional 6,900 shares during the last quarter. Glenmede Trust Co. NA bought a new stake in shares of Flywire during the first quarter worth $137,000. Essential Partners LLC boosted its stake in shares of Flywire by 219.1% during the first quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock valued at $27,000 after purchasing an additional 1,571 shares during the period. Finally, California State Teachers Retirement System boosted its stake in shares of Flywire by 42.4% during the first quarter. California State Teachers Retirement System now owns 146,602 shares of the company’s stock valued at $1,706,000 after purchasing an additional 43,651 shares during the period. Hedge funds and other institutional investors own 95.90% of the company’s stock.

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.