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

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

A number of other equities research analysts also recently issued reports on the company. Zacks Research raised Flywire from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 20th. Raymond James Financial reaffirmed an “outperform” rating and issued a $22.00 price objective on shares of Flywire in a report on Wednesday, May 27th. Weiss Ratings upgraded Flywire from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Truist Financial increased their target price on Flywire from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. Finally, Morgan Stanley raised their price target on Flywire from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.07.

Flywire Price Performance

Shares of NASDAQ:FLYW opened at $15.85 on Friday. The company’s 50 day moving average price is $14.88 and its two-hundred day moving average price is $13.63. Flywire has a 12-month low of $10.10 and a 12-month high of $18.05. The firm has a market cap of $1.96 billion, a PE ratio of 68.91, a PEG ratio of 1.62 and a beta of 1.34.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.03 by $0.07. Flywire had a net margin of 4.45% and a return on equity of 3.78%. The company had revenue of $184.00 million for the quarter, compared to analysts’ expectations of $170.24 million. During the same period last year, the firm earned ($0.03) earnings per share. The business’s revenue for the quarter was up 40.9% on a year-over-year basis. On average, research analysts expect that Flywire will post 0.28 EPS for the current year.

Insider Activity at Flywire

In related news, insider Mohit Kansal sold 54,543 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $15.15, for a total transaction of $826,326.45. Following the sale, the insider owned 504,320 shares in the company, valued at approximately $7,640,448. This trade represents a 9.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Peter Butterfield sold 6,528 shares of Flywire stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $15.08, for a total transaction of $98,442.24. Following the completion of the transaction, the general counsel directly owned 652,152 shares in the company, valued at $9,834,452.16. This trade represents a 0.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 406,741 shares of company stock worth $6,638,589 in the last 90 days. Corporate insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Flywire

A number of large investors have recently modified their holdings of the business. Mangrove Partners IM LLC bought a new position in shares of Flywire in the 3rd quarter valued at $39,289,000. Wellington Management Group LLP lifted its position in shares of Flywire by 173.3% during the 3rd quarter. Wellington Management Group LLP now owns 3,358,186 shares of the company’s stock worth $45,470,000 after buying an additional 2,129,514 shares during the last quarter. Voss Capital LP lifted its position in shares of Flywire by 21.5% during the 4th quarter. Voss Capital LP now owns 11,750,000 shares of the company’s stock worth $166,380,000 after buying an additional 2,080,202 shares during the last quarter. Jennison Associates LLC boosted its stake in Flywire by 35.2% in the fourth 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 in the last quarter. Finally, Cooper Creek Partners Management LLC acquired a new stake in Flywire in the third quarter valued at about $15,433,000. 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.