Flywire (NASDAQ:FLYW) Downgraded to “Hold” Rating by Wall Street Zen

Flywire (NASDAQ:FLYW) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other analysts also recently issued reports on the company. Royal Bank Of Canada upped their price objective on Flywire from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, February 25th. Morgan Stanley raised shares of Flywire from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $15.00 to $17.00 in a research note on Monday, March 2nd. Weiss Ratings restated a “sell (d)” rating on shares of Flywire in a report on Thursday, January 22nd. UBS Group lowered their price target on shares of Flywire from $15.50 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, February 25th. Finally, Stephens raised shares of Flywire from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $17.00 to $19.00 in a research report on Friday, January 16th. Six equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Flywire presently has a consensus rating of “Hold” and an average target price of $15.58.

Flywire Price Performance

Shares of Flywire stock opened at $11.36 on Friday. Flywire has a 1 year low of $8.20 and a 1 year high of $15.25. The business has a 50 day moving average price of $12.24 and a 200 day moving average price of $13.20. The company has a market capitalization of $1.38 billion, a P/E ratio of 113.61, a P/E/G ratio of 1.03 and a beta of 1.28.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, February 24th. The company reported $105.55 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $105.56. The firm had revenue of $157.54 million for the quarter, compared to analysts’ expectations of $144.96 million. Flywire had a return on equity of 2.76% and a net margin of 2.17%.Flywire’s quarterly revenue was up 34.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.12) EPS. As a group, research analysts expect that Flywire will post 0.14 EPS for the current fiscal year.

Insider Activity at Flywire

In related news, General Counsel Peter Butterfield sold 13,327 shares of the stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $15.01, for a total transaction of $200,038.27. Following the transaction, the general counsel directly owned 374,933 shares in the company, valued at approximately $5,627,744.33. This represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Voss Capital, Lp purchased 181,121 shares of the firm’s stock in a transaction on Tuesday, December 30th. The stock was acquired 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 $136,193,877.35. The trade was a 1.92% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders acquired 251,112 shares of company stock worth $3,477,834 and sold 38,948 shares worth $568,115. Insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Flywire

Institutional investors have recently bought and sold shares of the stock. Voss Capital LP increased its position in Flywire by 21.5% during the fourth quarter. Voss Capital LP now owns 11,750,000 shares of the company’s stock worth $166,380,000 after purchasing an additional 2,080,202 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Flywire by 43.8% in the 4th quarter. Wellington Management Group LLP now owns 4,828,197 shares of the company’s stock valued at $68,367,000 after purchasing an additional 1,470,011 shares during the last quarter. Divisadero Street Capital Management LP boosted 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 purchasing an additional 3,063,518 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Flywire by 35.2% during the 4th quarter. Jennison Associates LLC now owns 4,420,633 shares of the company’s stock valued at $62,596,000 after buying an additional 1,150,802 shares during the period. Finally, Mangrove Partners IM LLC grew its stake in shares of Flywire by 2.8% during the 4th quarter. Mangrove Partners IM LLC now owns 2,984,076 shares of the company’s stock valued at $42,255,000 after buying an additional 82,383 shares during the period. 95.90% of the stock is currently 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.