Flywire (NASDAQ:FLYW) Reaches New 1-Year High – Should You Buy?

Flywire Corporation (NASDAQ:FLYW) shares reached a new 52-week high during trading on Thursday . The company traded as high as $18.98 and last traded at $18.8210, with a volume of 130937 shares changing hands. The stock had previously closed at $18.78.

Analyst Ratings Changes

FLYW has been the topic of several analyst reports. Zacks Research cut shares of Flywire from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. UBS Group raised their target price on shares of Flywire from $14.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Weiss Ratings upgraded Flywire from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. New Street Research set a $16.00 price objective on Flywire in a report on Thursday, May 21st. Finally, Truist Financial lifted their price objective on Flywire from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, May 19th. Nine research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.77.

Flywire Stock Down 3.0%

The company has a market cap of $2.24 billion, a PE ratio of 78.83, a P/E/G ratio of 1.91 and a beta of 1.32. The stock’s 50 day simple moving average is $16.42 and its two-hundred day simple moving average is $14.11.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.07. The company had revenue of $184.00 million for the quarter, compared to analyst estimates of $170.24 million. Flywire had a net margin of 4.45% and a return on equity of 3.78%. Flywire’s revenue for the quarter was up 40.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.03) EPS. Analysts forecast that Flywire Corporation will post 0.28 EPS for the current year.

Insider Transactions at Flywire

In other news, Director Phillip John Riese sold 37,921 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $16.87, for a total value of $639,727.27. Following the transaction, the director directly owned 234,493 shares in the company, valued at $3,955,896.91. This trade represents a 13.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Rob Orgel sold 178,980 shares of Flywire stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $17.00, for a total value of $3,042,660.00. Following the completion of the transaction, the chief operating officer directly owned 959,061 shares in the company, valued at $16,304,037. This represents a 15.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 410,391 shares of company stock valued at $6,700,493 in the last ninety days. Company insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FLYW. Voss Capital LP increased its position in shares of Flywire by 21.5% in the fourth quarter. Voss Capital LP now owns 11,750,000 shares of the company’s stock worth $166,380,000 after acquiring an additional 2,080,202 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Flywire by 19.9% during the 1st quarter. Jennison Associates LLC now owns 5,298,881 shares of the company’s stock valued at $61,679,000 after acquiring an additional 878,248 shares in the last quarter. Wellington Management Group LLP boosted its position in Flywire by 43.8% during the 4th quarter. Wellington Management Group LLP now owns 4,828,197 shares of the company’s stock worth $68,367,000 after purchasing an additional 1,470,011 shares during the period. Mangrove Partners IM LLC boosted its position in Flywire by 2.8% during the 4th quarter. Mangrove Partners IM LLC now owns 2,984,076 shares of the company’s stock worth $42,255,000 after purchasing an additional 82,383 shares during the period. Finally, Wasatch Advisors LP acquired a new stake in Flywire in the 2nd quarter valued at $44,026,000. 95.90% of the stock is owned by institutional investors and hedge funds.

Flywire Company Profile

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.