Flywire’s (FLYW) “Outperform” Rating Reiterated at Royal Bank Of Canada

Flywire (NASDAQ:FLYW)‘s stock had its “outperform” rating restated by equities research analysts at Royal Bank Of Canada in a research report issued on Wednesday, Benzinga reports. They currently have a $25.00 target price on the stock. Royal Bank Of Canada’s price objective suggests a potential upside of 42.69% from the stock’s current price.

FLYW has been the topic of several other reports. UBS Group reiterated a “neutral” rating on shares of Flywire in a report on Thursday, September 17th. B. Riley Financial raised their price objective on Flywire from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $22.00 target price on shares of Flywire in a report on Wednesday, August 5th. Wall Street Zen lowered shares of Flywire from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Finally, Truist Financial upped their price target on Flywire from $17.00 to $19.00 and gave the stock a “hold” rating in a research report on Friday, August 14th. Eight investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Flywire presently has an average rating of “Moderate Buy” and an average price target of $20.23.

Flywire Stock Performance

FLYW traded up $0.19 during trading on Wednesday, hitting $17.52. 707,852 shares of the stock were exchanged, compared to its average volume of 1,902,251. The firm has a 50 day simple moving average of $17.77 and a 200 day simple moving average of $15.93. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of 67.49, a P/E/G ratio of 1.10 and a beta of 1.30. Flywire has a 1 year low of $10.55 and a 1 year high of $19.73.

Flywire (NASDAQ:FLYW) last issued its 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 firm had revenue of $163.80 million during the quarter, compared to analysts’ expectations of $156.47 million. Flywire had a return on equity of 4.08% and a net margin of 4.77%.Flywire’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.10) earnings per share. As a group, equities analysts anticipate that Flywire will post 0.4 earnings per share for the current fiscal year.

Insider Transactions at Flywire

In other Flywire news, major shareholder Voss Capital, Lp sold 44,768 shares of the stock in a transaction dated 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 in the company, valued at approximately $207,881,848.38. This represents a 0.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Peter Butterfield sold 12,156 shares of the business’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 value of $218,686.44. Following the transaction, the general counsel owned 601,022 shares in the company, valued at approximately $10,812,385.78. This represents a 1.98% decrease in their ownership of the stock. 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 have sold 555,718 shares of company stock valued at $10,554,333 in the last three months. Corporate insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Nykredit A S acquired a new stake in Flywire during the second quarter worth about $29,000. Essential Partners LLC raised its position in shares of Flywire by 219.1% during the 1st quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock valued at $27,000 after buying an additional 1,571 shares during the period. KBC Group NV purchased a new stake in shares of Flywire during the 1st quarter valued at approximately $38,000. Leonteq Securities AG lifted its holdings in Flywire by 267.6% in the first quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock valued at $41,000 after acquiring an additional 2,577 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in Flywire by 126.8% in the second 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 last quarter. 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.