Flywire (NASDAQ:FLYW) Given Outperform Rating at Royal Bank Of Canada

Flywire (NASDAQ:FLYW)‘s stock had its “outperform” rating reiterated by stock analysts at Royal Bank Of Canada in a report released on Wednesday, Benzinga reports. They presently have a $25.00 price target on the stock. Royal Bank Of Canada’s target price indicates a potential upside of 42.86% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. Seaport Research Partners reissued a “buy” rating and issued a $22.00 target price on shares of Flywire in a report on Monday, August 17th. BTIG Research reissued a “buy” rating on shares of Flywire in a report on Thursday, September 10th. Weiss Ratings raised shares of Flywire from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, September 1st. Morgan Stanley reissued an “overweight” rating and issued a $22.00 target price on shares of Flywire in a report on Wednesday, August 5th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $22.00 target price on shares of Flywire in a report on Wednesday, August 5th. Eight investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.23.

Flywire Trading Up 1.0%

Flywire stock traded up $0.17 during midday trading on Wednesday, hitting $17.50. The stock had a trading volume of 498,980 shares, compared to its average volume of 1,900,813. The firm’s fifty day moving average is $17.77 and its two-hundred day moving average is $15.93. The company has a market capitalization of $2.13 billion, a PE ratio of 67.35, a P/E/G ratio of 1.10 and a beta of 1.30. Flywire has a 52-week low of $10.55 and a 52-week high of $19.73.

Flywire (NASDAQ:FLYW) last released its 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). The firm had revenue of $163.80 million during the quarter, compared to analysts’ expectations of $156.47 million. Flywire had a return on equity of 4.08% and a net margin of 4.77%.The company’s revenue was up 27.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.10) earnings per share. As a group, equities research analysts predict that Flywire will post 0.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Flywire news, General Counsel Peter Butterfield sold 12,156 shares of the stock in a transaction that occurred on 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 sale, the general counsel directly owned 601,022 shares of the company’s stock, valued at $10,812,385.78. This trade represents a 1.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 sale, the insider directly owned 11,069,321 shares of the company’s stock, valued at approximately $207,881,848.38. This trade represents a 0.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 555,718 shares of company stock valued at $10,554,333. Insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Flywire

Institutional investors have recently added to or reduced their stakes in the stock. Voss Capital LP grew its holdings in Flywire by 21.5% during the 4th quarter. Voss Capital LP now owns 11,750,000 shares of the company’s stock valued at $166,380,000 after buying an additional 2,080,202 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Flywire by 1.2% in the second quarter. Wellington Management Group LLP now owns 5,340,579 shares of the company’s stock valued at $93,834,000 after purchasing an additional 64,998 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Flywire by 19.9% in the first quarter. Jennison Associates LLC now owns 5,298,881 shares of the company’s stock valued at $61,679,000 after purchasing an additional 878,248 shares in the last quarter. Wasatch Advisors LP purchased a new position in shares of Flywire in the second quarter valued at $44,026,000. Finally, Mangrove Partners IM LLC grew its holdings in shares of Flywire by 2.8% in the fourth quarter. Mangrove Partners IM LLC now owns 2,984,076 shares of the company’s stock valued at $42,255,000 after purchasing an additional 82,383 shares in the last quarter. 95.90% of the stock is owned by hedge funds and other institutional investors.

Flywire Company Profile

Flywire Corporation (NASDAQ: FLYW) is a global payments-enablement and software company that helps organizations accept, process and manage domestic and international payments. Its platform is designed to simplify complex payment workflows, support multiple currencies and payment methods, and provide customers with tools for reconciliation, reporting and payment tracking.

The company serves institutions and businesses in sectors including education, health care, travel and business-to-business payments.