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

Shares of Flywire Corporation (NASDAQ:FLYW) have been given a consensus rating of “Hold” by the seventeen analysts that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $15.7308.

A number of brokerages have recently issued reports on FLYW. The Goldman Sachs Group lifted their price objective on shares of Flywire from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Seaport Res Ptn upgraded shares of Flywire from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 14th. UBS Group lifted their price target on shares of Flywire from $13.50 to $15.50 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Citigroup raised Flywire to a “hold” rating in a research report on Thursday, October 23rd. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Flywire in a research report on Wednesday, October 8th.

Insider Buying and Selling at Flywire

In related news, General Counsel Peter Butterfield sold 13,327 shares of the stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $15.01, for a total value of $200,038.27. Following the completion of the transaction, the general counsel directly owned 374,933 shares of the company’s stock, valued at $5,627,744.33. This trade represents a 3.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Voss Capital, Lp bought 44,991 shares of the stock in a transaction that occurred on Wednesday, December 31st. The stock was bought at an average price of $14.23 per share, with a total value of $640,221.93. Following the completion of the purchase, the insider directly owned 9,670,000 shares in the company, valued at $137,604,100. This represents a 0.47% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders sold 39,526 shares of company stock worth $583,717. 4.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Voss Capital LP boosted its holdings in Flywire by 176.0% in the second quarter. Voss Capital LP now owns 8,100,000 shares of the company’s stock valued at $94,770,000 after purchasing an additional 5,165,014 shares during the last quarter. Divisadero Street Capital Management LP lifted its holdings in shares of Flywire by 178.0% in the 2nd quarter. Divisadero Street Capital Management LP now owns 4,784,654 shares of the company’s stock valued at $55,980,000 after buying an additional 3,063,518 shares during the period. Mangrove Partners IM LLC purchased a new stake in shares of Flywire in the third quarter worth about $39,289,000. Azora Capital LP acquired a new stake in Flywire during the second quarter worth about $33,355,000. Finally, Wellington Management Group LLP grew its holdings in Flywire by 173.3% during the third quarter. Wellington Management Group LLP now owns 3,358,186 shares of the company’s stock worth $45,470,000 after acquiring an additional 2,129,514 shares during the period. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Flywire Trading Down 3.6%

FLYW opened at $13.30 on Wednesday. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of -664.67, a PEG ratio of 1.56 and a beta of 1.28. 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 has a 12 month low of $8.20 and a 12 month high of $21.31. The stock has a fifty day moving average price of $14.07 and a 200-day moving average price of $13.15.

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

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.