Flywire Corporation (NASDAQ:FLYW – Get Free Report)’s stock price rose 5.2% on Tuesday . The stock traded as high as $16.26 and last traded at $16.1060. Approximately 631,585 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 1,864,858 shares. The stock had previously closed at $15.31.
Analyst Upgrades and Downgrades
FLYW has been the topic of several analyst reports. Truist Financial upped their price target on shares of Flywire from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. Citigroup lifted their price objective 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. The Goldman Sachs Group restated a “neutral” rating and set a $17.00 price objective on shares of Flywire in a research note on Wednesday, May 6th. JPMorgan Chase & Co. raised shares of Flywire from an “underweight” rating to a “neutral” rating and upped their target price for the company from $14.00 to $16.00 in a report on Thursday, May 21st. Finally, UBS Group raised their target price on shares of Flywire from $14.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $18.07.
Get Our Latest Stock Report on FLYW
Flywire Stock Performance
Flywire (NASDAQ:FLYW – Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.07. Flywire had a return on equity of 3.78% and a net margin of 4.45%.The business had revenue of $184.00 million during the quarter, compared to the consensus estimate of $170.24 million. During the same quarter last year, the firm posted ($0.03) EPS. The company’s quarterly revenue was up 40.9% on a year-over-year basis. As a group, sell-side analysts predict that Flywire Corporation will post 0.28 EPS for the current fiscal year.
Insider Buying and Selling
In related news, COO Rob Orgel sold 178,980 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $17.00, for a total value of $3,042,660.00. Following the transaction, the chief operating officer owned 959,061 shares in the company, valued at approximately $16,304,037. This represents a 15.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, 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 transaction of $763,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,678,051 shares in the company, valued at approximately $40,867,058.26. This represents a 1.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 406,741 shares of company stock valued at $6,638,589. 5.00% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Flywire
Institutional investors have recently made changes to their positions in the company. Essential Partners LLC increased its stake in shares of Flywire by 219.1% during the first quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock worth $27,000 after purchasing an additional 1,571 shares during the period. Global Retirement Partners LLC acquired a new stake in Flywire during the 4th quarter worth approximately $32,000. KBC Group NV bought a new stake in Flywire in the 1st quarter valued at $38,000. Leonteq Securities AG boosted its stake in Flywire by 267.6% in 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. increased its position in Flywire by 78.4% during 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 during the period. Institutional investors 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.
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