Wall Street Zen Upgrades Flywire (NASDAQ:FLYW) to “Buy”

Flywire (NASDAQ:FLYW) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

A number of other equities analysts have also recently issued reports on the company. Zacks Research raised Flywire from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 19th. Citigroup raised Flywire to a “hold” rating in a research note on Thursday, October 23rd. Wolfe Research reiterated an “outperform” rating and set a $19.00 target price on shares of Flywire in a research report on Wednesday, November 5th. The Goldman Sachs Group boosted their target price on shares of Flywire from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Finally, B. Riley upped their price target on shares of Flywire from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $15.65.

Flywire Trading Down 0.6%

Shares of Flywire stock opened at $13.79 on Friday. The firm’s 50 day moving average is $14.07 and its 200 day moving average is $13.11. The firm has a market capitalization of $1.68 billion, a PE ratio of -689.16, a price-to-earnings-growth ratio of 1.57 and a beta of 1.28. Flywire has a 1 year low of $8.20 and a 1 year high of $21.31. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.02.

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

Insiders Place Their Bets

In other news, Director Phillip John Riese sold 16,612 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $15.08, for a total value of $250,508.96. Following the transaction, the director owned 234,493 shares in the company, valued at approximately $3,536,154.44. The trade was a 6.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Voss Capital, Lp acquired 181,121 shares of Flywire stock in a transaction dated Tuesday, December 30th. The stock was purchased at an average cost of $14.15 per share, for a total transaction of $2,562,862.15. Following the completion of the purchase, the insider owned 9,625,009 shares in the company, valued at approximately $136,193,877.35. The trade was a 1.92% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders sold 39,526 shares of company stock worth $583,717. 4.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC lifted its stake in shares of Flywire by 60.1% in the 4th quarter. SG Americas Securities LLC now owns 78,187 shares of the company’s stock valued at $1,107,000 after purchasing an additional 29,351 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in Flywire in the fourth quarter valued at approximately $252,000. BlueCrest Capital Management Ltd acquired a new position in Flywire in the third quarter valued at approximately $1,354,000. CIBC Private Wealth Group LLC bought a new position in shares of Flywire during the 3rd quarter worth approximately $1,253,000. Finally, CIBC Bancorp USA Inc. acquired a new stake in shares of Flywire during the 3rd quarter worth approximately $169,000. 95.90% of the stock is owned by 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.