Flywire (NASDAQ:FLYW) Raised to “Strong-Buy” at Seaport Res Ptn

Flywire (NASDAQ:FLYW) was upgraded by equities researchers at Seaport Res Ptn from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Citigroup upgraded shares of Flywire to a “hold” rating in a research note on Thursday, October 23rd. UBS Group upped their price target on shares of Flywire from $13.50 to $15.50 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Truist Financial lifted their price objective on shares of Flywire from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Weiss Ratings reiterated a “sell (d)” rating on shares of Flywire in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group upped their price target on Flywire from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $15.19.

Flywire Trading Down 0.1%

NASDAQ FLYW opened at $14.29 on Wednesday. Flywire has a 12 month low of $8.20 and a 12 month high of $21.31. The business has a fifty day simple moving average of $14.06 and a 200 day simple moving average of $13.09. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $1.75 billion, a P/E ratio of -714.14, a PEG ratio of 1.50 and a beta of 1.28.

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

Insider Activity at Flywire

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Rhumbline Advisers grew its position in shares of Flywire by 2.3% during the first quarter. Rhumbline Advisers now owns 169,553 shares of the company’s stock valued at $1,611,000 after purchasing an additional 3,732 shares in the last quarter. Norges Bank bought a new position in Flywire during the 2nd quarter valued at about $2,334,000. Walleye Capital LLC lifted its stake in shares of Flywire by 206.0% during the 2nd quarter. Walleye Capital LLC now owns 462,665 shares of the company’s stock worth $5,413,000 after acquiring an additional 311,448 shares during the last quarter. Azora Capital LP purchased a new position in Flywire in the 2nd quarter worth about $33,355,000. Finally, First Eagle Investment Management LLC bought a new stake in shares of Flywire during the second quarter valued at approximately $1,363,000. 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.