Flywire (NASDAQ:FLYW) Earns Outperform Rating from Royal Bank Of Canada

Flywire (NASDAQ:FLYW)‘s stock had its “outperform” rating restated by investment analysts at Royal Bank Of Canada in a research report issued on Wednesday, Benzinga reports. They presently have a $25.00 target price on the stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 38.24% from the company’s previous close.

Several other research analysts have also recently weighed in on the stock. Zacks Research cut shares of Flywire from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. BTIG Research reissued a “buy” rating on shares of Flywire in a research report on Thursday, September 10th. UBS Group restated a “neutral” rating on shares of Flywire in a report on Thursday, September 17th. Truist Financial boosted their price objective on shares of Flywire from $17.00 to $19.00 and gave the stock a “hold” rating in a research note on Friday, August 14th. Finally, Weiss Ratings raised shares of Flywire from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, September 1st. Eight research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Flywire currently has a consensus rating of “Moderate Buy” and an average price target of $20.23.

Flywire Trading Up 2.9%

NASDAQ FLYW traded up $0.51 on Wednesday, hitting $18.09. 451,224 shares of the company were exchanged, compared to its average volume of 1,895,796. The stock has a fifty day moving average of $17.86 and a 200-day moving average of $16.04. The company has a market cap of $2.20 billion, a PE ratio of 69.44, a PEG ratio of 1.12 and a beta of 1.35. Flywire has a 12 month low of $10.55 and a 12 month high of $19.73.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, August 4th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.05). Flywire had a net margin of 4.77% and a return on equity of 4.08%. The firm had revenue of $163.80 million during the quarter, compared to analysts’ expectations of $156.47 million. During the same quarter in the prior year, the company earned ($0.10) EPS. The business’s revenue for the quarter was up 27.2% on a year-over-year basis. On average, analysts expect that Flywire will post 0.4 earnings per share for the current year.

Insider Activity

In related news, major shareholder Voss Capital, Lp sold 44,768 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $18.78, for a total transaction of $840,743.04. Following the completion of the sale, the insider owned 11,069,321 shares of the company’s stock, valued at approximately $207,881,848.38. This represents a 0.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Peter Butterfield sold 12,156 shares of the company’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $17.99, for a total transaction of $218,686.44. Following the completion of the transaction, the general counsel directly owned 601,022 shares of the company’s stock, valued at approximately $10,812,385.78. The trade was a 1.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 555,718 shares of company stock valued at $10,554,333 in the last 90 days. 5.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. SkyView Investment Advisors LLC acquired a new position in Flywire during the second quarter valued at approximately $527,000. Integrated Wealth Concepts LLC acquired a new stake in Flywire in the 2nd quarter valued at $106,000. Squarepoint Ops LLC grew its stake in Flywire by 158.4% during the second quarter. Squarepoint Ops LLC now owns 539,307 shares of the company’s stock worth $9,476,000 after buying an additional 330,622 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Flywire by 126.8% during the second quarter. Allworth Financial LP now owns 4,022 shares of the company’s stock worth $71,000 after purchasing an additional 2,249 shares during the last quarter. Finally, Waverly Advisors LLC increased its holdings in shares of Flywire by 15.9% in the second quarter. Waverly Advisors LLC now owns 79,243 shares of the company’s stock valued at $1,392,000 after purchasing an additional 10,870 shares in the last quarter. 95.90% of the stock is owned by institutional investors and hedge funds.

Flywire Company Profile

Flywire Corporation (NASDAQ: FLYW) is a global payments and software company that helps organizations receive and manage payments from customers, students, patients and other payers. Its platform supports domestic and international transactions, payment processing, invoicing, identity verification, reconciliation and related accounts-receivable workflows.

The company primarily serves the education, healthcare, travel and business-to-business sectors. Its solutions are used by universities and colleges to collect tuition and other fees, healthcare providers to manage patient payments, travel companies to process payments and businesses to facilitate invoicing and cross-border receivables.