Flywire (NASDAQ:FLYW) Earns Hold Rating from Truist Financial

Flywire (NASDAQ:FLYW)‘s stock had its “hold” rating restated by research analysts at Truist Financial in a report released on Friday, MarketBeat reports. They presently have a $17.00 target price on the stock, down from their prior target price of $18.00. Truist Financial’s price objective suggests a potential upside of 6.99% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. BTIG Research reiterated a “buy” rating and issued a $20.00 price objective on shares of Flywire in a research note on Tuesday, July 21st. Weiss Ratings upgraded shares of Flywire from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. The Goldman Sachs Group lifted their target price on shares of Flywire from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Citigroup upped their price target on shares of Flywire from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen cut shares of Flywire from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Eight equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.69.

Flywire Stock Performance

Shares of FLYW stock opened at $15.89 on Friday. The stock’s 50-day moving average is $16.47 and its two-hundred day moving average is $14.20. Flywire has a 1 year low of $10.10 and a 1 year high of $18.98. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 69.09, a PEG ratio of 1.62 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 for the quarter, beating the consensus estimate of $0.03 by $0.07. The business 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 business’s quarterly revenue was up 40.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.03) EPS. As a group, research analysts predict that Flywire will post 0.28 EPS for the current year.

Insider Activity at Flywire

In other news, CEO Michael Massaro sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $15.26, for a total value of $763,000.00. Following the transaction, the chief executive officer owned 2,678,051 shares of the company’s stock, valued at approximately $40,867,058.26. The trade was a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mohit Kansal sold 3,650 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $16.96, for a total value of $61,904.00. Following the sale, the insider owned 500,670 shares of the company’s stock, valued at $8,491,363.20. This trade represents a 0.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 410,391 shares of company stock worth $6,700,493 in the last ninety days. Company insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Flywire

A number of hedge funds and other institutional investors have recently bought and sold shares of FLYW. Jennison Associates LLC raised its position in Flywire by 35.2% during the 4th quarter. Jennison Associates LLC now owns 4,420,633 shares of the company’s stock worth $62,596,000 after buying an additional 1,150,802 shares during the last quarter. Voss Capital LP boosted its holdings in shares of Flywire by 21.5% in 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 in the last quarter. AlphaQuest LLC boosted its holdings in shares of Flywire by 372.4% in the fourth quarter. AlphaQuest LLC now owns 105,448 shares of the company’s stock valued at $1,493,000 after acquiring an additional 83,128 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Flywire by 103.3% during the fourth quarter. BNP Paribas Financial Markets now owns 1,023,958 shares of the company’s stock worth $14,499,000 after acquiring an additional 520,256 shares during the period. Finally, First Eagle Investment Management LLC increased its stake in shares of Flywire by 60.6% during the fourth quarter. First Eagle Investment Management LLC now owns 430,337 shares of the company’s stock worth $6,094,000 after acquiring an additional 162,348 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.