Flywire (NASDAQ:FLYW) Stock Rating Reaffirmed as Outperform by Royal Bank Of Canada

Flywire (NASDAQ:FLYW)‘s stock had its “outperform” rating restated by analysts at Royal Bank Of Canada in a report released on Wednesday, Benzinga reports. They currently have a $25.00 price target on the stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 42.58% from the stock’s previous close.

Other analysts have also issued reports about the company. The Goldman Sachs Group restated a “neutral” rating and issued a $22.00 target price on shares of Flywire in a research note on Wednesday, August 5th. Weiss Ratings upgraded Flywire from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, September 1st. Wolfe Research raised their target price on Flywire from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, August 25th. Citigroup restated a “neutral” rating on shares of Flywire in a research note on Thursday, August 6th. Finally, UBS Group restated a “neutral” rating on shares of Flywire in a research note on Thursday, September 17th. Eight analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.23.

Flywire Stock Up 1.2%

Flywire stock traded up $0.20 during mid-day trading on Wednesday, hitting $17.53. 474,147 shares of the company were exchanged, compared to its average volume of 1,900,363. The business has a fifty day moving average of $17.77 and a 200 day moving average of $15.93. Flywire has a 1-year low of $10.55 and a 1-year high of $19.73. The company has a market capitalization of $2.13 billion, a PE ratio of 67.43, a price-to-earnings-growth ratio of 1.10 and a beta of 1.30.

Flywire (NASDAQ:FLYW) last released its quarterly earnings data 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 analyst estimates of $156.47 million. During the same quarter in the prior year, the company earned ($0.10) earnings per share. The business’s revenue was up 27.2% compared to the same quarter last year. Research analysts expect that Flywire will post 0.4 earnings per share for the current year.

Insiders Place Their Bets

In other news, General Counsel Peter Butterfield sold 12,156 shares of the firm’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $17.99, for a total value of $218,686.44. Following the completion of the sale, the general counsel directly owned 601,022 shares in the company, valued at approximately $10,812,385.78. This trade represents a 1.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Voss Capital, Lp sold 44,768 shares of Flywire stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $18.78, for a total value 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. The trade was a 0.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 555,718 shares of company stock valued at $10,554,333. 5.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Flywire

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Essential Partners LLC increased its position in Flywire by 219.1% in the first quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock worth $27,000 after purchasing an additional 1,571 shares during the period. Nykredit A S bought a new position in Flywire during the second quarter worth about $29,000. Allworth Financial LP boosted its holdings in 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 buying an additional 2,249 shares during the last quarter. Leonteq Securities AG boosted its holdings in Flywire by 267.6% during the first quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock worth $41,000 after buying an additional 2,577 shares during the last quarter. Finally, KBC Group NV bought a new position in Flywire during the first quarter worth about $38,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.

About Flywire

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.