Flywire (NASDAQ:FLYW) Hits New 12-Month High – Should You Buy?

Flywire Corporation (NASDAQ:FLYW)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $19.01 and last traded at $18.9570, with a volume of 711340 shares traded. The stock had previously closed at $18.25.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on FLYW. Zacks Research downgraded shares of Flywire from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. BTIG Research restated a “buy” rating and set a $20.00 price objective on shares of Flywire in a report on Tuesday, July 21st. New Street Research set a $16.00 price objective on shares of Flywire in a research note on Thursday, May 21st. Truist Financial lifted their price objective on shares of Flywire from $17.00 to $19.00 and gave the company a “hold” rating in a report on Friday, August 14th. Finally, Citigroup reissued a “neutral” rating on shares of Flywire in a research report on Thursday, August 6th. Eight research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $19.54.

Flywire Stock Down 0.4%

The company has a market cap of $2.27 billion, a PE ratio of 71.81, a PEG ratio of 1.21 and a beta of 1.34. The company has a 50-day moving average of $17.30 and a 200-day moving average of $14.70.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.05). Flywire had a return on equity of 4.08% and a net margin of 4.77%.The company had revenue of $163.80 million for the quarter, compared to the consensus estimate of $156.47 million. During the same quarter last year, the company posted ($0.10) EPS. The company’s quarterly revenue was up 27.2% compared to the same quarter last year. As a group, equities analysts predict that Flywire Corporation will post 0.4 EPS for the current year.

Insider Transactions at Flywire

In other news, CEO Michael Massaro sold 50,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $15.26, for a total value of $763,000.00. Following the completion of the sale, the chief executive officer owned 2,678,051 shares in the company, valued at $40,867,058.26. This represents a 1.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Voss Capital, Lp sold 25,000 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $18.86, for a total transaction of $471,500.00. Following the completion of the sale, the insider owned 11,500,000 shares of the company’s stock, valued at approximately $216,890,000. This represents a 0.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 409,389 shares of company stock worth $6,888,120. 5.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Flywire

Several hedge funds have recently modified their holdings of FLYW. Essential Partners LLC grew its holdings in shares of Flywire by 219.1% in the first quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock valued at $27,000 after acquiring an additional 1,571 shares in the last quarter. Global Retirement Partners LLC bought a new stake in Flywire during the fourth quarter worth $32,000. KBC Group NV purchased a new position in Flywire in the first quarter worth $38,000. Leonteq Securities AG boosted its position in Flywire by 267.6% in the first quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock worth $41,000 after purchasing an additional 2,577 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in Flywire by 78.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock valued at $66,000 after purchasing an additional 2,497 shares during the period. Institutional investors own 95.90% of the company’s stock.

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.