BTIG Research Reiterates “Buy” Rating for Flywire (NASDAQ:FLYW)

Flywire (NASDAQ:FLYW)‘s stock had its “buy” rating restated by investment analysts at BTIG Research in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $20.00 price objective on the stock. BTIG Research’s target price would suggest a potential upside of 20.92% from the stock’s current price.

A number of other analysts have also recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Flywire from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $14.00 to $16.00 in a report on Thursday, May 21st. Morgan Stanley boosted their target price on shares of Flywire from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. The Goldman Sachs Group upped their target price on shares of Flywire from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Wall Street Zen lowered shares of Flywire from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Finally, Deutsche Bank Aktiengesellschaft raised Flywire to an “outperform” rating in a report on Wednesday, May 27th. Nine equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.77.

Flywire Price Performance

Shares of FLYW opened at $16.54 on Tuesday. Flywire has a 12 month low of $10.10 and a 12 month high of $18.98. The stock has a fifty day moving average price of $16.48 and a 200 day moving average price of $14.18. The company has a market cap of $2.04 billion, a P/E ratio of 71.91, a PEG ratio of 1.78 and a beta of 1.32.

Flywire (NASDAQ:FLYW) last posted its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.07. Flywire had a return on equity of 3.78% and a net margin of 4.45%.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 business posted ($0.03) earnings per share. The firm’s quarterly revenue was up 40.9% compared to the same quarter last year. As a group, research analysts anticipate that Flywire will post 0.28 earnings per share for the current year.

Insider Buying and Selling at Flywire

In related news, CEO Michael Massaro sold 50,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $15.26, for a total value of $763,000.00. Following the completion of the transaction, the chief executive officer owned 2,678,051 shares in the company, valued at $40,867,058.26. This represents a 1.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Mohit Kansal sold 3,650 shares of the firm’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $16.96, for a total transaction of $61,904.00. Following the transaction, the insider directly owned 500,670 shares in the company, valued at approximately $8,491,363.20. The trade was a 0.72% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 410,391 shares of company stock valued at $6,700,493. 5.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Global Retirement Partners LLC acquired a new position in shares of Flywire during the fourth quarter valued at approximately $32,000. Essential Partners LLC boosted its stake in Flywire by 219.1% during the 1st quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock valued at $27,000 after purchasing an additional 1,571 shares in the last quarter. KBC Group NV acquired a new position in shares of Flywire during the 1st quarter valued at $38,000. Leonteq Securities AG increased its position in shares of Flywire by 267.6% during the 1st quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock valued at $41,000 after purchasing an additional 2,577 shares during the period. Finally, Daiwa Securities Group Inc. raised its stake in shares of Flywire by 78.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock worth $66,000 after buying an additional 2,497 shares in the last quarter. 95.90% of the stock is currently owned by institutional investors.

About Flywire

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.