Flywire Corporation (NASDAQ:FLYW) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Flywire Corporation (NASDAQ:FLYW) has received an average rating of “Moderate Buy” from the fifteen analysts that are covering the company, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $20.23.

A number of analysts have recently weighed in on FLYW shares. B. Riley Financial increased their price objective on Flywire from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Wolfe Research upped their price target on shares of Flywire from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, August 25th. 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. BTIG Research reissued a “buy” rating on shares of Flywire in a report on Thursday, September 10th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Flywire in a research note on Thursday, September 17th.

Insider Buying and Selling

In other Flywire news, major shareholder Voss Capital, Lp sold 172,973 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $19.19, for a total value of $3,319,351.87. Following the completion of the transaction, the insider directly owned 369,168 shares in the company, valued at approximately $7,084,333.92. This represents a 31.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Peter Butterfield sold 12,156 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $17.99, for a total transaction of $218,686.44. Following the completion of the sale, the general counsel directly owned 601,022 shares of the company’s stock, valued at approximately $10,812,385.78. This represents a 1.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 555,718 shares of company stock valued at $10,554,333. 5.00% 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 stock. Nykredit A S purchased a new stake in Flywire in the second quarter worth $29,000. Essential Partners LLC lifted its stake 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 acquiring an additional 1,571 shares during the period. KBC Group NV purchased a new stake in shares of Flywire during the 1st quarter valued at about $38,000. Leonteq Securities AG boosted its holdings in shares of Flywire by 267.6% during the 1st quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock valued at $41,000 after acquiring an additional 2,577 shares during the last quarter. Finally, Allworth Financial LP grew its stake in shares of Flywire by 126.8% in the second quarter. Allworth Financial LP now owns 4,022 shares of the company’s stock worth $71,000 after acquiring an additional 2,249 shares during the period. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Flywire Stock Up 0.1%

NASDAQ FLYW opened at $17.58 on Monday. The company has a 50-day simple moving average of $17.86 and a two-hundred day simple moving average of $16.02. Flywire has a 12-month low of $10.55 and a 12-month high of $19.73. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 67.62, a PEG ratio of 1.12 and a beta of 1.35.

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). Flywire had a net margin of 4.77% and a return on equity of 4.08%. The company had revenue of $163.80 million during the quarter, compared to the consensus estimate of $156.47 million. During the same period last year, the firm posted ($0.10) EPS. The company’s revenue was up 27.2% on a year-over-year basis. Equities analysts expect that Flywire will post 0.4 earnings per share for the current fiscal year.

Flywire Company Profile

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.