Flywire (NASDAQ:FLYW) Raised to “Strong-Buy” at Zacks Research

Flywire (NASDAQ:FLYW) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

FLYW has been the subject of several other research reports. Wall Street Zen downgraded shares of Flywire from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Morgan Stanley increased their price objective on Flywire from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada boosted their target price on Flywire from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. BTIG Research upped their price target on Flywire from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, New Street Research set a $16.00 price target on Flywire in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Flywire Price Performance

Shares of NASDAQ FLYW opened at $16.16 on Wednesday. The business has a 50-day moving average of $13.51 and a two-hundred day moving average of $13.38. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 70.26, a price-to-earnings-growth ratio of 1.13 and a beta of 1.30. Flywire has a 1 year low of $9.97 and a 1 year high of $18.05.

Flywire (NASDAQ:FLYW) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.07. Flywire had a net margin of 4.45% and a return on equity of 3.78%. The company had revenue of $184.00 million during the quarter, compared to the consensus estimate of $170.24 million. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. Flywire’s revenue for the quarter was up 40.9% on a year-over-year basis. As a group, equities research analysts expect that Flywire will post 0.4 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Phillip John Riese sold 37,921 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $16.87, for a total transaction of $639,727.27. Following the transaction, the director owned 234,493 shares of the company’s stock, valued at $3,955,896.91. This represents a 13.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mohit Kansal sold 16,101 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $15.90, for a total value of $256,005.90. Following the completion of the transaction, the insider owned 567,794 shares of the company’s stock, valued at $9,027,924.60. The trade was a 2.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 114,511 shares of company stock valued at $1,859,470 over the last 90 days. 4.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Flywire

Institutional investors and hedge funds have recently made changes to their positions in the stock. Essential Partners LLC increased its holdings in shares of Flywire by 219.1% in the 1st 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 in the last quarter. California State Teachers Retirement System lifted its position in shares of Flywire by 42.4% during the 1st quarter. California State Teachers Retirement System now owns 146,602 shares of the company’s stock valued at $1,706,000 after acquiring an additional 43,651 shares during the period. Quantinno Capital Management LP boosted its stake in shares of Flywire by 49.8% during the 1st quarter. Quantinno Capital Management LP now owns 238,849 shares of the company’s stock worth $2,780,000 after acquiring an additional 79,368 shares in the last quarter. ABS Direct Equity Fund LLC increased its stake in Flywire by 9.4% in the 1st quarter. ABS Direct Equity Fund LLC now owns 350,000 shares of the company’s stock valued at $4,074,000 after purchasing an additional 30,000 shares in the last quarter. Finally, North Reef Capital Management LP boosted its position in Flywire by 83.3% during the first quarter. North Reef Capital Management LP now owns 1,100,000 shares of the company’s stock worth $12,804,000 after purchasing an additional 499,999 shares in the last quarter. 95.90% of the stock is owned by institutional investors and hedge funds.

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.