Flywire (NASDAQ:FLYW) Reaches New 12-Month High – What’s Next?

Flywire Corporation (NASDAQ:FLYW)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $19.01 and last traded at $18.9570, with a volume of 711340 shares changing hands. The stock had previously closed at $18.25.

Analysts Set New Price Targets

A number of research firms have weighed in on FLYW. Seaport Research Partners reiterated a “buy” rating and set a $22.00 target price on shares of Flywire in a research report on Monday. Wall Street Zen cut shares of Flywire from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. B. Riley Financial raised their price target on shares of Flywire from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. UBS Group lifted their price objective on shares of Flywire from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $22.00 price objective on shares of Flywire in a research report on Wednesday, August 5th. Eight equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Flywire presently has an average rating of “Hold” and a consensus target price of $19.54.

Flywire Price Performance

The firm has a fifty day moving average of $17.13 and a two-hundred day moving average of $14.62. The stock has a market capitalization of $2.31 billion, a P/E ratio of 73.04, a P/E/G ratio of 1.20 and a beta of 1.34.

Flywire (NASDAQ:FLYW) last issued its earnings results on Tuesday, August 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The business had revenue of $163.80 million for the quarter, compared to the consensus estimate of $156.47 million. Flywire had a return on equity of 4.08% and a net margin of 4.77%.The firm’s revenue was up 27.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.10) earnings per share. As a group, sell-side analysts forecast that Flywire Corporation will post 0.4 EPS for the current fiscal year.

Insider Buying and Selling

In other Flywire news, Director Phillip John Riese sold 5,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $15.43, for a total transaction of $77,150.00. Following the completion of the sale, the director owned 234,493 shares in the company, valued at $3,618,226.99. This represents a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Rob Orgel sold 178,980 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $17.00, for a total value of $3,042,660.00. Following the sale, the chief operating officer directly owned 959,061 shares in the company, valued at $16,304,037. This trade represents 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 304,889 shares of company stock valued at $4,958,590 over the last ninety days. Company insiders own 5.00% of the company’s stock.

Institutional Trading of Flywire

Hedge funds have recently modified their holdings of the company. Essential Partners LLC boosted its holdings in shares of Flywire by 219.1% in 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 in the last quarter. Global Retirement Partners LLC bought a new position in shares of Flywire during the 4th quarter worth approximately $32,000. KBC Group NV purchased a new stake in Flywire during the first quarter valued at approximately $38,000. Leonteq Securities AG lifted its position in Flywire by 267.6% during the first 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, Daiwa Securities Group Inc. boosted its stake in Flywire by 78.4% in the second quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock valued at $66,000 after acquiring an additional 2,497 shares in the last quarter. 95.90% of the stock is owned by hedge funds and other institutional investors.

Flywire Company Profile

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.