Flywire (NASDAQ:FLYW) Given Equal Weight Rating at Stephens

Flywire (NASDAQ:FLYW)‘s stock had its “equal weight” rating reiterated by stock analysts at Stephens in a report issued on Friday, Benzinga reports. They presently have a $20.00 price objective on the stock. Stephens’ price objective indicates a potential upside of 7.08% from the stock’s current price.

Several other research analysts have also recently issued reports on FLYW. B. Riley Financial raised their price objective on Flywire from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $25.00 target price on shares of Flywire in a report on Wednesday, September 30th. Wolfe Research upped their target price on Flywire from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, August 25th. UBS Group reiterated a “neutral” rating on shares of Flywire in a research report on Thursday, September 17th. Finally, Wall Street Zen downgraded shares of Flywire from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Seven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $20.31.

Flywire Stock Performance

Shares of NASDAQ FLYW traded down $0.67 during mid-day trading on Friday, hitting $18.68. The stock had a trading volume of 405,018 shares, compared to its average volume of 1,866,131. The company has a 50 day moving average of $18.13 and a two-hundred day moving average of $16.44. Flywire has a twelve month low of $10.55 and a twelve month high of $19.73. The firm has a market cap of $2.27 billion, a PE ratio of 71.73, a PEG ratio of 1.15 and a beta of 1.35.

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 analysts’ consensus estimates of ($0.02) by ($0.05). Flywire had a return on equity of 4.08% and a net margin of 4.77%. The firm had revenue of $163.80 million during the quarter, compared to analysts’ expectations of $156.47 million. During the same quarter last year, the business earned ($0.10) EPS. The business’s revenue was up 27.2% on a year-over-year basis. Equities research analysts predict that Flywire will post 0.40 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Peter Butterfield sold 12,156 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $17.99, for a total transaction of $218,686.44. Following the sale, the general counsel owned 601,022 shares of the company’s stock, valued at $10,812,385.78. This trade represents a 1.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David King sold 36,900 shares of the stock in a transaction on Tuesday, October 13th. The stock was sold at an average price of $18.32, for a total transaction of $676,008.00. Following the sale, the insider directly owned 202,404 shares in the company, valued at $3,708,041.28. This trade represents a 15.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 592,618 shares of company stock worth $11,230,341. Corporate insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Flywire

Several institutional investors and hedge funds have recently modified their holdings of FLYW. Nykredit A S acquired a new stake in Flywire in the second quarter valued at approximately $29,000. Essential Partners LLC raised its position in 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 acquiring an additional 1,571 shares during the period. KBC Group NV purchased a new position in Flywire during the first quarter valued at $38,000. Leonteq Securities AG grew 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 valued at $41,000 after purchasing an additional 2,577 shares during the period. Finally, Allworth Financial LP grew its position in shares of Flywire by 126.8% in the second quarter. Allworth Financial LP now owns 4,022 shares of the company’s stock valued at $71,000 after purchasing an additional 2,249 shares during the period. Hedge funds and other institutional investors own 95.90% of the company’s stock.

About Flywire

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.