Flywire Corporation (NASDAQ:FLYW) Given Average Rating of “Moderate Buy” by Analysts

Shares of Flywire Corporation (NASDAQ:FLYW) have been given a consensus rating of “Moderate Buy” by the fifteen brokerages that are covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $18.0714.

FLYW has been the subject of several analyst reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $17.00 price objective on shares of Flywire in a research note on Wednesday, May 6th. Citigroup increased their price objective on Flywire from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Weiss Ratings raised Flywire from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. New Street Research set a $16.00 price objective on Flywire in a research note on Thursday, May 21st. Finally, Morgan Stanley increased their price objective on Flywire from $17.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th.

Flywire Stock Performance

Shares of NASDAQ:FLYW opened at $15.85 on Friday. The business’s 50 day simple moving average is $14.88 and its two-hundred day simple moving average is $13.63. The firm has a market cap of $1.96 billion, a P/E ratio of 68.91, a PEG ratio of 1.62 and a beta of 1.34. Flywire has a 52-week low of $10.10 and a 52-week high of $18.05.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.03 by $0.07. The firm had revenue of $184.00 million during the quarter, compared to the consensus estimate of $170.24 million. Flywire had a return on equity of 3.78% and a net margin of 4.45%.The company’s quarterly revenue was up 40.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.03) earnings per share. On average, equities analysts forecast that Flywire will post 0.28 earnings per share for the current fiscal year.

Insider Transactions at Flywire

In other news, Director Phillip John Riese sold 5,000 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $15.43, for a total value of $77,150.00. Following the completion of the sale, the director directly owned 234,493 shares of the company’s stock, valued at $3,618,226.99. This represents a 2.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Peter Butterfield sold 6,528 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $15.08, for a total value of $98,442.24. Following the completion of the sale, the general counsel directly owned 652,152 shares of the company’s stock, valued at approximately $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. Over the last quarter, insiders sold 406,741 shares of company stock valued at $6,638,589. Corporate insiders own 5.00% of the company’s stock.

Institutional Trading of Flywire

A number of institutional investors and hedge funds have recently modified their holdings of FLYW. Mangrove Partners IM LLC purchased a new stake in shares of Flywire during the third quarter valued at approximately $39,289,000. Wellington Management Group LLP increased its position in shares of Flywire by 173.3% during the third quarter. Wellington Management Group LLP now owns 3,358,186 shares of the company’s stock valued at $45,470,000 after acquiring an additional 2,129,514 shares during the last quarter. Voss Capital LP increased its position in shares of Flywire by 21.5% during the fourth quarter. Voss Capital LP now owns 11,750,000 shares of the company’s stock valued at $166,380,000 after acquiring an additional 2,080,202 shares during the last quarter. Jennison Associates LLC increased its position in shares of Flywire by 35.2% during the fourth quarter. Jennison Associates LLC now owns 4,420,633 shares of the company’s stock valued at $62,596,000 after acquiring an additional 1,150,802 shares during the last quarter. Finally, Cooper Creek Partners Management LLC purchased a new stake in shares of Flywire during the third quarter valued at approximately $15,433,000. 95.90% of the stock is owned by hedge funds and other 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.