Flywire (NASDAQ:FLYW) Sets New 1-Year High – Here’s Why

Shares of Flywire Corporation (NASDAQ:FLYW) reached a new 52-week high during trading on Wednesday . The company traded as high as $18.07 and last traded at $18.00, with a volume of 392850 shares. The stock had previously closed at $17.57.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FLYW. Zacks Research upgraded shares of Flywire from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 20th. JPMorgan Chase & Co. raised Flywire from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $14.00 to $16.00 in a research note on Thursday, May 21st. Deutsche Bank Aktiengesellschaft upgraded Flywire to an “outperform” rating in a report on Wednesday, May 27th. UBS Group increased their price objective on Flywire from $14.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Finally, Morgan Stanley raised their price objective on Flywire from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.07.

Flywire Stock Performance

The stock’s 50 day moving average price is $15.47 and its 200-day moving average price is $13.77. The company has a market cap of $2.27 billion, a PE ratio of 79.87, a PEG ratio of 1.80 and a beta of 1.34.

Flywire (NASDAQ:FLYW) last issued its earnings results on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.07. The company had revenue of $184.00 million for the quarter, compared to analysts’ expectations of $170.24 million. Flywire had a net margin of 4.45% and a return on equity of 3.78%. The firm’s revenue was up 40.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.03) EPS. On average, analysts anticipate that Flywire Corporation will post 0.28 EPS for the current year.

Insider Activity

In other news, Director Phillip John Riese sold 37,921 shares of Flywire stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $16.87, for a total value of $639,727.27. Following the transaction, the director owned 234,493 shares in the company, valued at approximately $3,955,896.91. The trade was a 13.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Massaro sold 50,000 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $15.26, for a total value of $763,000.00. Following the completion of the sale, the chief executive officer directly owned 2,678,051 shares of the company’s stock, valued at approximately $40,867,058.26. This trade represents a 1.83% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 410,391 shares of company stock valued at $6,700,493. Company insiders own 5.00% of the company’s stock.

Institutional Trading of Flywire

A number of institutional investors have recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Flywire by 3.4% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 24,086 shares of the company’s stock worth $326,000 after purchasing an additional 800 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Flywire by 13.6% in the fourth quarter. Royal Bank of Canada now owns 9,025 shares of the company’s stock worth $128,000 after buying an additional 1,081 shares during the period. Essential Partners LLC raised its holdings in Flywire by 219.1% during the 1st quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock valued at $27,000 after buying an additional 1,571 shares during the last quarter. Global Retirement Partners LLC bought a new stake in Flywire during the 4th quarter valued at $32,000. Finally, Daiwa Securities Group Inc. boosted its position in Flywire by 78.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock valued at $66,000 after buying an additional 2,497 shares during the period. Hedge funds and other institutional investors own 95.90% of the company’s stock.

About Flywire

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.