Flywire (NASDAQ:FLYW) Hits New 1-Year Low – Here’s What Happened

Flywire Co. (NASDAQ:FLYW)’s share price hit a new 52-week low during trading on Monday . The company traded as low as $8.61 and last traded at $8.99, with a volume of 415589 shares traded. The stock had previously closed at $9.10.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FLYW shares. BTIG Research downgraded Flywire from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 26th. Morgan Stanley decreased their price objective on shares of Flywire from $21.00 to $15.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Citigroup dropped their target price on shares of Flywire from $26.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Seaport Res Ptn lowered shares of Flywire from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, Stephens cut shares of Flywire from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $26.00 to $15.00 in a report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Flywire has an average rating of “Hold” and a consensus price target of $17.92.

Flywire Stock Down 0.9 %

The stock has a 50-day simple moving average of $14.24 and a two-hundred day simple moving average of $17.52. The firm has a market cap of $1.11 billion, a PE ratio of 60.13, a P/E/G ratio of 1.41 and a beta of 1.22.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). The firm had revenue of $112.80 million for the quarter, compared to analysts’ expectations of $118.85 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. Research analysts expect that Flywire Co. will post 0.14 earnings per share for the current year.

Insider Buying and Selling

In other Flywire news, General Counsel Peter Butterfield sold 5,523 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $10.08, for a total value of $55,671.84. Following the completion of the sale, the general counsel now owns 247,561 shares in the company, valued at approximately $2,495,414.88. The trade was a 2.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gretchen Howard acquired 8,889 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were bought at an average cost of $10.94 per share, with a total value of $97,245.66. Following the purchase, the director now owns 30,770 shares of the company’s stock, valued at approximately $336,623.80. This trade represents a 40.62 % increase in their position. The disclosure for this purchase can be found here. 3.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Flywire

Hedge funds and other institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC purchased a new position in Flywire during the 4th quarter valued at about $30,000. Arcadia Investment Management Corp MI bought a new stake in shares of Flywire in the 4th quarter worth approximately $48,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Flywire during the fourth quarter valued at approximately $77,000. GAMMA Investing LLC lifted its stake in Flywire by 23,876.5% in the first quarter. GAMMA Investing LLC now owns 4,076 shares of the company’s stock worth $429,000 after acquiring an additional 4,059 shares during the period. Finally, KBC Group NV boosted its holdings in Flywire by 64.0% in the fourth quarter. KBC Group NV now owns 4,899 shares of the company’s stock valued at $101,000 after acquiring an additional 1,911 shares in the last quarter. 95.90% of the stock is owned by institutional investors.

About Flywire

Flywire Corporation, together with its subsidiaries, operates as a payments enablement and software company in the United States and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay. The company’s platform facilitates payment flows across multiple currencies, payment types, and payment options, as well as provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.