Flywire (NASDAQ:FLYW) Stock Rating Lowered by Wall Street Zen

Flywire (NASDAQ:FLYW) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Sunday.

Several other analysts also recently weighed in on FLYW. The Goldman Sachs Group lifted their price objective on shares of Flywire from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Stephens upgraded Flywire from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $17.00 to $19.00 in a report on Friday, January 16th. B. Riley lifted their price objective on Flywire from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Weiss Ratings restated a “sell (d)” rating on shares of Flywire in a report on Thursday. Finally, Truist Financial set a $17.00 price target on shares of Flywire in a research report on Tuesday. Six research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Flywire currently has an average rating of “Hold” and an average price target of $15.73.

Flywire Stock Down 0.1%

Shares of NASDAQ:FLYW opened at $13.73 on Friday. Flywire has a 1 year low of $8.20 and a 1 year high of $21.31. The stock has a 50-day simple moving average of $14.06 and a 200-day simple moving average of $13.18. The stock has a market capitalization of $1.68 billion, a P/E ratio of -686.16, a PEG ratio of 1.55 and a beta of 1.28. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.53 and a current ratio of 1.53.

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

Insider Transactions at Flywire

In other Flywire news, Director Phillip John Riese sold 16,612 shares of the stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $15.08, for a total transaction of $250,508.96. Following the completion of the transaction, the director owned 234,493 shares in the company, valued at approximately $3,536,154.44. This represents a 6.62% decrease in their position. The transaction 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 the stock in a transaction dated Tuesday, December 30th. The stock was acquired at an average price of $14.15 per share, for a total transaction of $2,562,862.15. Following the completion of the acquisition, the insider directly owned 9,625,009 shares of the company’s stock, valued at $136,193,877.35. The trade was a 1.92% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 39,526 shares of company stock worth $583,717 in the last three months. Insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Flywire

A number of institutional investors have recently bought and sold shares of FLYW. Norges Bank bought a new position in shares of Flywire in the 2nd quarter worth about $2,334,000. Walleye Capital LLC increased its holdings in shares of Flywire by 206.0% in the 2nd quarter. Walleye Capital LLC now owns 462,665 shares of the company’s stock worth $5,413,000 after purchasing an additional 311,448 shares in the last quarter. First Eagle Investment Management LLC purchased a new position in Flywire in the 2nd quarter worth about $1,363,000. Pekin Hardy Strauss Inc. bought a new position in Flywire during the second quarter valued at approximately $421,000. Finally, Azora Capital LP purchased a new position in shares of Flywire in the 2nd quarter worth $33,355,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

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.