Flywire Corporation (NASDAQ:FLYW) Stock Has Average Price Target of $20.31

Flywire Corporation (NASDAQ:FLYW) has been assigned a consensus rating of “Hold” from the fifteen ratings firms that are currently covering the stock, Marketbeat.com reports. Eight analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $20.31.

Several research analysts have recently issued reports on FLYW shares. UBS Group restated a “neutral” rating on shares of Flywire in a report on Thursday, September 17th. B. Riley Financial increased their target price on shares of Flywire from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Seaport Research Partners reissued a “buy” rating and set a $22.00 target price on shares of Flywire in a research report on Monday, August 17th. Weiss Ratings upgraded Flywire from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, September 1st. Finally, Wolfe Research boosted their price target on Flywire from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, August 25th.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Flywire

A number of hedge funds have recently modified their holdings of FLYW. Simplicity Wealth LLC bought a new position in shares of Flywire in the 3rd quarter worth $294,000. Sterling Capital Management LLC grew its stake in shares of Flywire by 592.3% during the third quarter. Sterling Capital Management LLC now owns 3,884 shares of the company’s stock worth $68,000 after purchasing an additional 3,323 shares during the period. Nisa Investment Advisors LLC increased its holdings in Flywire by 30.6% in the third quarter. Nisa Investment Advisors LLC now owns 5,986 shares of the company’s stock valued at $105,000 after purchasing an additional 1,403 shares during the last quarter. IFP Advisors Inc increased its holdings in Flywire by 168.7% in the third quarter. IFP Advisors Inc now owns 2,483 shares of the company’s stock valued at $43,000 after purchasing an additional 1,559 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Flywire by 9.5% in the third quarter. Farther Finance Advisors LLC now owns 38,786 shares of the company’s stock valued at $679,000 after buying an additional 3,352 shares during the period. 95.90% of the stock is owned by institutional investors and hedge funds.

Flywire Trading Down 1.6%

Shares of FLYW stock opened at $18.84 on Friday. Flywire has a 1 year low of $10.55 and a 1 year high of $19.73. The firm’s fifty day simple moving average is $18.26 and its 200 day simple moving average is $15.45. The firm has a market capitalization of $2.29 billion, a P/E ratio of 72.46 and a beta of 1.35.

Flywire (NASDAQ:FLYW) last released its earnings results on Tuesday, August 4th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The company had revenue of $163.80 million for the quarter, compared to analysts’ expectations of $156.47 million. During the same period in the prior year, the firm posted ($0.10) EPS. Flywire’s revenue was up 27.2% on a year-over-year basis. Equities research analysts anticipate that Flywire will post 0.40 EPS for the current fiscal year.

About Flywire

Flywire Corp. (NASDAQ: FLYW) is a global payments and software company that helps organizations receive and manage payments from customers and clients in multiple countries and currencies. Its platform is designed to simplify complex, cross-border transactions while providing payment tracking, reconciliation and related accounts-receivable capabilities.

The company serves several major verticals, including education, healthcare, travel and business-to-business payments. Its products and services include international and domestic payment processing, digital billing and invoicing, payment plans, embedded payment solutions and tools that help organizations automate reconciliation and improve the payment experience.

Flywire was founded in 2009 as peerTransfer and is headquartered in Boston, Massachusetts.