Wolfe Research Reiterates Peer Perform Rating for Flywire (NASDAQ:FLYW)

Wolfe Research reiterated their peer perform rating on shares of Flywire (NASDAQ:FLYW) in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports.

A number of other equities analysts have also recently issued reports on the company. Raymond James cut Flywire from a “strong-buy” rating to an “outperform” rating and decreased their target price for the stock from $29.00 to $17.00 in a report on Wednesday, February 26th. UBS Group cut Flywire from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $25.00 to $15.00 in a research note on Wednesday, February 26th. BTIG Research lowered shares of Flywire from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 26th. The Goldman Sachs Group dropped their target price on shares of Flywire from $15.00 to $11.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Finally, Stephens downgraded shares of Flywire from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $26.00 to $15.00 in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Flywire has a consensus rating of “Hold” and an average price target of $17.00.

Flywire Trading Down 0.6 %

Shares of NASDAQ FLYW opened at $8.63 on Wednesday. Flywire has a twelve month low of $8.20 and a twelve month high of $23.40. The firm has a 50-day moving average of $10.91 and a two-hundred day moving average of $16.71. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 57.50, a PEG ratio of 1.41 and a beta of 1.22.

Flywire (NASDAQ:FLYW) last released its earnings results on Tuesday, February 25th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The business had revenue of $112.80 million for the quarter, compared to analyst estimates of $118.85 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. As a group, research analysts predict that Flywire will post 0.14 earnings per share for the current year.

Insider Transactions at Flywire

In other Flywire news, General Counsel Peter Butterfield sold 5,523 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $10.08, for a total value of $55,671.84. Following the transaction, the general counsel now owns 247,561 shares in the company, valued at $2,495,414.88. The trade was a 2.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gretchen Howard purchased 8,889 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were purchased at an average cost of $10.94 per share, with a total value of $97,245.66. Following the completion of the purchase, the director now directly owns 30,770 shares in the company, valued at approximately $336,623.80. This represents a 40.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.90% of the stock is currently owned by company insiders.

Institutional Trading of Flywire

Several large investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in shares of Flywire in the 4th quarter valued at $35,579,000. Voss Capital LP acquired a new stake in shares of Flywire in the fourth quarter worth about $30,621,000. Teacher Retirement System of Texas bought a new stake in shares of Flywire during the 4th quarter worth about $24,363,000. Jennison Associates LLC increased its holdings in shares of Flywire by 53.0% during the 4th quarter. Jennison Associates LLC now owns 3,406,312 shares of the company’s stock valued at $70,238,000 after acquiring an additional 1,179,562 shares during the last quarter. Finally, Wasatch Advisors LP raised its stake in shares of Flywire by 62.1% in the 4th quarter. Wasatch Advisors LP now owns 2,741,644 shares of the company’s stock valued at $56,533,000 after acquiring an additional 1,049,888 shares in the last quarter. 95.90% of the stock is owned by institutional investors.

Flywire Company Profile

Flywire Corporation, together with its subsidiaries, operates as a payments enablement and software company in the United States and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay. The company’s platform facilitates payment flows across multiple currencies, payment types, and payment options, as well as provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.