Flywire (NASDAQ:FLYW) Cut to “Hold” at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen lowered shares of Flywire (NASDAQ:FLYW – Free Report) from a buy rating to a hold rating in a report released on Sunday.

FLYW has been the topic of a number of other reports. B. Riley boosted their price target on shares of Flywire from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. Stephens upgraded Flywire from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $17.00 to $19.00 in a report on Friday, January 16th. Truist Financial set a $17.00 price objective on shares of Flywire in a research report on Tuesday, January 20th. Zacks Research upgraded shares of Flywire from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 19th. Finally, The Goldman Sachs Group raised their target price on Flywire from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Six investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Flywire currently has a consensus rating of “Hold” and an average target price of $15.73.

Check Out Our Latest Research Report on Flywire

Flywire Stock Down 2.9%

NASDAQ FLYW opened at $13.35 on Friday. Flywire has a 52 week low of $8.20 and a 52 week high of $21.31. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of -667.17, a PEG ratio of 1.55 and a beta of 1.28. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.02. The company has a fifty day moving average of $14.06 and a two-hundred day moving average of $13.22.

Flywire (NASDAQ:FLYW – Get Free Report) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.04. Flywire had a positive return on equity of 0.80% and a negative net margin of 0.42%.The firm had revenue of $194.10 million for the quarter, compared to the consensus estimate of $180.07 million. During the same period in the prior year, the business posted $0.30 earnings per share. The company’s revenue for the quarter was up 27.6% on a year-over-year basis. On average, analysts predict that Flywire will post 0.14 earnings per share for the current year.

Insiders Place Their Bets

In other news, General Counsel Peter Butterfield sold 13,327 shares of the company’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $15.01, for a total value of $200,038.27. Following the completion of the sale, the general counsel owned 374,933 shares in the company, valued at $5,627,744.33. This represents a 3.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Phillip John Riese sold 16,612 shares of the firm’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $15.08, for a total value of $250,508.96. Following the sale, the director directly owned 234,493 shares of the company’s stock, valued at approximately $3,536,154.44. This represents a 6.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 39,526 shares of company stock valued at $583,717 in the last quarter. Insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its position in Flywire by 194.9% during the second quarter. Nisa Investment Advisors LLC now owns 3,279 shares of the company’s stock worth $38,000 after purchasing an additional 2,167 shares during the period. Covestor Ltd raised its stake in Flywire by 217.9% during the 3rd quarter. Covestor Ltd now owns 3,233 shares of the company’s stock valued at $43,000 after purchasing an additional 2,216 shares during the last quarter. Daiwa Securities Group Inc. grew its position in Flywire by 78.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock worth $66,000 after purchasing an additional 2,497 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Flywire in the third quarter valued at about $67,000. Finally, CWM LLC lifted its position in shares of Flywire by 850.9% in the 2nd quarter. CWM LLC now owns 6,447 shares of the company’s stock worth $75,000 after acquiring an additional 5,769 shares during the period. 95.90% of the stock is owned by institutional investors and hedge funds.

About Flywire

(Get Free Report)

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.

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