Flywire’s (FLYW) Buy Rating Reiterated at B. Riley Financial

B. Riley Financial reissued their buy rating on shares of Flywire (NASDAQ:FLYW) in a research note released on Wednesday,Benzinga reports. B. Riley Financial currently has a $25.00 price target on the stock, up from their prior price target of $24.00.

Several other equities analysts have also issued reports on FLYW. BTIG Research upped their target price on Flywire from $20.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday. Weiss Ratings upgraded Flywire from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, September 1st. Stephens started coverage on Flywire in a research report on Friday, October 16th. They issued an “equal weight” rating and a $20.00 price objective on the stock. Seaport Research Partners restated a “buy” rating and issued a $22.00 price objective on shares of Flywire in a research note on Monday, August 17th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $24.00 target price on shares of Flywire in a research report on Wednesday. Seven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Flywire currently has an average rating of “Hold” and a consensus target price of $22.27.

Flywire Stock Up 1.5%

Flywire stock traded up $0.31 during midday trading on Wednesday, hitting $21.57. 2,499,704 shares of the stock were exchanged, compared to its average volume of 1,238,536. Flywire has a 52-week low of $10.55 and a 52-week high of $22.17. The business’s 50-day moving average price is $18.45 and its 200-day moving average price is $15.69. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of 35.95, a price-to-earnings-growth ratio of 1.24 and a beta of 1.32.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.31 by $0.26. Flywire had a net margin of 4.77% and a return on equity of 4.08%. The firm had revenue of $250.30 million during the quarter, compared to analyst estimates of $233.25 million. During the same quarter last year, the business posted $0.23 EPS. The company’s revenue for the quarter was up 25.1% on a year-over-year basis. On average, sell-side analysts predict that Flywire will post 0.40 earnings per share for the current fiscal year.

Insider Activity

In related news, General Counsel Peter Butterfield sold 12,156 shares of Flywire stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $17.99, for a total value of $218,686.44. Following the sale, the general counsel owned 601,022 shares of the company’s stock, valued at approximately $10,812,385.78. The trade was a 1.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Voss Capital, Lp sold 172,973 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 369,168 shares in the company, valued at approximately $7,084,333.92. The trade was a 31.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 653,996 shares of company stock valued at $12,466,115 in the last three months. Company insiders own 5.00% of the company’s stock.

Institutional Trading of Flywire

A number of large investors have recently bought and sold shares of FLYW. Nisa Investment Advisors LLC lifted its position in shares of Flywire by 30.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 5,986 shares of the company’s stock valued at $105,000 after buying an additional 1,403 shares during the last quarter. IFP Advisors Inc grew its stake in shares of Flywire by 168.7% during the 3rd quarter. IFP Advisors Inc now owns 2,483 shares of the company’s stock worth $43,000 after acquiring an additional 1,559 shares during the period. Essential Partners LLC increased its holdings in Flywire by 219.1% in the 1st quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock worth $27,000 after acquiring an additional 1,571 shares during the last quarter. Nykredit A S purchased a new stake in Flywire in the 2nd quarter worth about $29,000. Finally, Fifth Third Bancorp increased its holdings in Flywire by 4.2% in the 3rd quarter. Fifth Third Bancorp now owns 45,556 shares of the company’s stock worth $797,000 after acquiring an additional 1,839 shares during the last quarter. 95.90% of the stock is owned by hedge funds and other institutional investors.

Flywire Company Profile

Flywire Corp. (NASDAQ: FLYW) is a global payments and software company that helps organizations receive and manage payments from customers and clients in multiple countries and currencies. Its platform is designed to simplify complex, cross-border transactions while providing payment tracking, reconciliation and related accounts-receivable capabilities.

The company serves several major verticals, including education, healthcare, travel and business-to-business payments. Its products and services include international and domestic payment processing, digital billing and invoicing, payment plans, embedded payment solutions and tools that help organizations automate reconciliation and improve the payment experience.

Flywire was founded in 2009 as peerTransfer and is headquartered in Boston, Massachusetts.