Flywire (NASDAQ:FLYW) Earns Equal Weight Rating from Stephens

Flywire (NASDAQ:FLYW)‘s stock had its “equal weight” rating reissued by equities research analysts at Stephens in a report released on Friday, Benzinga reports. They presently have a $20.00 price target on the stock. Stephens’ target price would suggest a potential upside of 7.08% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Zacks Research lowered Flywire from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Truist Financial lifted their price target on Flywire from $17.00 to $19.00 and gave the stock a “hold” rating in a report on Friday, August 14th. UBS Group reissued a “neutral” rating on shares of Flywire in a research report on Thursday, September 17th. The Goldman Sachs Group reissued a “neutral” rating and set a $22.00 price target on shares of Flywire in a research report on Wednesday, August 5th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $25.00 price objective on shares of Flywire in a research report on Wednesday, September 30th. Seven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $20.31.

Flywire Trading Down 3.5%

FLYW stock traded down $0.67 during mid-day trading on Friday, reaching $18.68. The company’s stock had a trading volume of 405,018 shares, compared to its average volume of 1,866,131. The stock has a market cap of $2.27 billion, a PE ratio of 71.73, a P/E/G ratio of 1.15 and a beta of 1.35. Flywire has a fifty-two week low of $10.55 and a fifty-two week high of $19.73. The company’s 50 day moving average is $18.13 and its two-hundred day moving average is $16.44.

Flywire (NASDAQ:FLYW) last released its earnings results on Tuesday, August 4th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). The business 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 for the quarter was up 27.2% compared to the same quarter last year. During the same period last year, the business earned ($0.10) earnings per share. On average, analysts forecast that Flywire will post 0.40 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Peter Butterfield sold 12,156 shares of the company’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 transaction, the general counsel owned 601,022 shares of the company’s stock, valued at $10,812,385.78. This represents a 1.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 company’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $18.78, for a total value of $840,743.04. Following the completion of the transaction, the insider directly owned 11,069,321 shares in the company, valued at approximately $207,881,848.38. This trade represents a 0.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 592,618 shares of company stock valued at $11,230,341 over the last quarter. 5.00% of the stock is owned by insiders.

Institutional Trading of Flywire

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC boosted its stake in Flywire by 9.5% during the third quarter. Farther Finance Advisors LLC now owns 38,786 shares of the company’s stock worth $679,000 after buying an additional 3,352 shares during the period. Toth Financial Advisory Corp raised its stake in shares of Flywire by 2,500.0% in the 3rd quarter. Toth Financial Advisory Corp now owns 34,320 shares of the company’s stock valued at $601,000 after acquiring an additional 33,000 shares during the period. SkyView Investment Advisors LLC acquired a new position in shares of Flywire in the 2nd quarter worth approximately $527,000. Integrated Wealth Concepts LLC purchased a new position in shares of Flywire during the 2nd quarter worth approximately $106,000. Finally, Squarepoint Ops LLC boosted its position in shares of Flywire by 158.4% during the 2nd quarter. Squarepoint Ops LLC now owns 539,307 shares of the company’s stock worth $9,476,000 after purchasing an additional 330,622 shares during the period. 95.90% of the stock is owned by institutional investors and hedge funds.

About Flywire

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.