Flywire (NASDAQ:FLYW) Reaches New 52-Week High – Should You Buy?

Flywire Corporation (NASDAQ:FLYW) shares hit a new 52-week high on Wednesday . The stock 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.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. raised shares of Flywire from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $14.00 to $16.00 in a report on Thursday, May 21st. Citigroup boosted their price target on shares of Flywire from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. The Goldman Sachs Group restated a “neutral” rating and set a $17.00 price target on shares of Flywire in a research note on Wednesday, May 6th. Zacks Research raised shares of Flywire from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 20th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $22.00 price objective on shares of Flywire in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $18.07.

Flywire Stock Performance

The firm has a 50 day simple moving average of $15.47 and a 200 day simple moving average of $13.77. The firm has a market cap of $2.27 billion, a P/E ratio of 79.87, a P/E/G ratio of 1.80 and a beta of 1.34.

Flywire (NASDAQ:FLYW) last posted its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.07. Flywire had a return on equity of 3.78% and a net margin of 4.45%.The business had revenue of $184.00 million during the quarter, compared to analyst estimates of $170.24 million. During the same quarter in the previous year, the firm earned ($0.03) EPS. The company’s quarterly revenue was up 40.9% compared to the same quarter last year. Sell-side analysts predict that Flywire Corporation will post 0.28 EPS for the current fiscal year.

Insider Buying and Selling at Flywire

In other news, CEO Michael Massaro sold 50,000 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $15.26, for a total transaction of $763,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,678,051 shares in the company, valued at $40,867,058.26. The trade was a 1.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Rob Orgel sold 178,980 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $17.00, for a total transaction of $3,042,660.00. Following the completion of the transaction, the chief operating officer directly owned 959,061 shares in the company, valued at approximately $16,304,037. The trade was a 15.73% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 410,391 shares of company stock worth $6,700,493 in the last ninety days. Insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Flywire

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC purchased a new stake in shares of Flywire in the 4th quarter valued at about $32,000. Essential Partners LLC grew its holdings in shares of Flywire by 219.1% during the first quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock worth $27,000 after purchasing an additional 1,571 shares in the last quarter. KBC Group NV purchased a new position in shares of Flywire during the first quarter worth about $38,000. Leonteq Securities AG increased its position in shares of Flywire by 267.6% in the first quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock worth $41,000 after purchasing an additional 2,577 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its position in shares of Flywire by 78.4% in the second quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock worth $66,000 after purchasing an additional 2,497 shares during the last quarter. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

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.