Flywire (NASDAQ:FLYW) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of Flywire (NASDAQ:FLYW) from a buy rating to a hold rating in a research note published on Saturday.

Other analysts have also issued reports about the company. The Goldman Sachs Group dropped their price objective on Flywire from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, February 25th. Stephens raised Flywire from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $17.00 to $19.00 in a research note on Friday, January 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of Flywire in a research report on Thursday, January 22nd. Royal Bank Of Canada lifted their price target on shares of Flywire from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Finally, UBS Group cut their price target on shares of Flywire from $15.50 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, February 25th. Six analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $15.58.

Flywire Stock Performance

Shares of Flywire stock opened at $11.36 on Friday. The firm has a 50-day simple moving average of $12.24 and a two-hundred day simple moving average of $13.20. Flywire has a fifty-two week low of $8.20 and a fifty-two week high of $15.25. The company has a market cap of $1.38 billion, a P/E ratio of 113.61, a price-to-earnings-growth ratio of 0.97 and a beta of 1.28.

Flywire (NASDAQ:FLYW) last posted its earnings results on Tuesday, February 24th. The company reported $105.55 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $105.56. Flywire had a return on equity of 2.76% and a net margin of 2.17%.The firm had revenue of $157.54 million for the quarter, compared to analysts’ expectations of $144.96 million. During the same period last year, the firm earned ($0.12) EPS. The company’s quarterly revenue was up 34.0% on a year-over-year basis. Equities research analysts forecast that Flywire will post 0.14 EPS for the current year.

Insider Buying and Selling

In other Flywire news, major shareholder Voss Capital, Lp acquired 181,121 shares of the company’s stock in a transaction that occurred on Tuesday, December 30th. The stock was bought at an average price of $14.15 per share, with a total value of $2,562,862.15. Following the purchase, the insider owned 9,625,009 shares in the company, valued at approximately $136,193,877.35. The trade was a 1.92% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Peter Butterfield sold 13,327 shares of the stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $15.01, for a total transaction of $200,038.27. Following the completion of the sale, the general counsel owned 374,933 shares of the company’s stock, valued at approximately $5,627,744.33. The trade was a 3.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have acquired 251,112 shares of company stock worth $3,477,834 and have sold 38,948 shares worth $568,115. 4.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Flywire

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GDS Wealth Management boosted its stake in Flywire by 9.0% during the third quarter. GDS Wealth Management now owns 1,039,320 shares of the company’s stock worth $14,072,000 after buying an additional 85,411 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new stake in shares of Flywire in the 3rd quarter worth $1,253,000. Walleye Capital LLC raised its holdings in shares of Flywire by 206.0% during the 2nd quarter. Walleye Capital LLC now owns 462,665 shares of the company’s stock worth $5,413,000 after acquiring an additional 311,448 shares during the period. Norges Bank purchased a new position in shares of Flywire during the 2nd quarter worth $2,334,000. Finally, BlueCrest Capital Management Ltd acquired a new position in shares of Flywire during the 3rd quarter valued at about $1,354,000. Institutional investors and hedge funds 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.