Flywire Corporation (NASDAQ:FLYW – Get Free Report)’s stock price hit a new 52-week high during trading on Wednesday after Truist Financial raised their price target on the stock from $19.00 to $23.00. Truist Financial currently has a hold rating on the stock. Flywire traded as high as $22.46 and last traded at $22.40, with a volume of 974,712 shares changing hands. The stock had previously closed at $22.35.
Other research analysts have also issued reports about the stock. UBS Group upped their target price on shares of Flywire from $19.00 to $21.50 and gave the stock a “neutral” rating in a research report on Wednesday, November 4th. Citigroup boosted their price target on Flywire from $19.00 to $23.00 and gave the stock a “neutral” rating in a research note on Thursday, November 5th. Seaport Research Partners restated a “buy” rating and issued a $22.00 price target on shares of Flywire in a report on Monday, August 17th. Weiss Ratings raised Flywire from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Monday. Finally, JPMorgan Chase & Co. raised their price objective on Flywire from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Wednesday, November 4th. Seven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $22.58.
Get Our Latest Stock Report on FLYW
Insider Buying and Selling
In other Flywire news, major shareholder Voss Capital, Lp sold 172,973 shares of the firm’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $19.19, for a total transaction of $3,319,351.87. Following the completion of the transaction, the insider owned 369,168 shares of the company’s stock, valued at approximately $7,084,333.92. This trade represents a 31.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider David R. King sold 55,325 shares of the business’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $20.05, for a total value of $1,109,266.25. Following the completion of the transaction, the insider directly owned 147,079 shares of the company’s stock, valued at approximately $2,948,933.95. This trade represents a 27.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 653,996 shares of company stock worth $12,466,115 in the last ninety days. Insiders own 5.00% of the company’s stock.
Institutional Trading of Flywire
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its holdings in shares of Flywire by 1.2% during the second quarter. Wellington Management Group LLP now owns 5,340,579 shares of the company’s stock worth $93,834,000 after purchasing an additional 64,998 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Flywire by 19.9% in the 1st quarter. Jennison Associates LLC now owns 5,298,881 shares of the company’s stock valued at $61,679,000 after acquiring an additional 878,248 shares during the period. Wasatch Advisors LP acquired a new position in shares of Flywire during the 2nd quarter valued at $44,026,000. Dimensional Fund Advisors LP lifted its holdings in shares of Flywire by 18.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,886,865 shares of the company’s stock valued at $21,962,000 after acquiring an additional 295,960 shares in the last quarter. Finally, One Way Holdings LLC boosted its position in Flywire by 7.2% during the 3rd quarter. One Way Holdings LLC now owns 1,131,863 shares of the company’s stock worth $19,808,000 after purchasing an additional 76,310 shares during the period. Hedge funds and other institutional investors own 95.90% of the company’s stock.
Flywire Trading Up 0.3%
The stock has a market capitalization of $2.73 billion, a PE ratio of 37.37, a PEG ratio of 1.41 and a beta of 1.32. The business’s 50-day moving average is $18.59 and its two-hundred day moving average is $15.78.
Flywire (NASDAQ:FLYW – Get Free Report) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.26. Flywire had a return on equity of 9.25% and a net margin of 10.34%. The company had revenue of $250.30 million for the quarter, compared to analysts’ expectations of $233.25 million. During the same quarter in the previous year, the firm posted $0.23 earnings per share. The firm’s quarterly revenue was up 25.1% on a year-over-year basis. On average, analysts predict that Flywire Corporation will post 0.40 EPS for the current year.
About Flywire
Flywire Corporation is a global payments and software company that helps businesses and institutions manage domestic and cross-border payments. Its platform connects payment processing with organizations’ existing systems and supports multiple currencies and local payment methods. The company serves customers in sectors including education, healthcare, travel and business-to-business services. Its offerings help organizations collect payments from customers and manage related payment workflows, including international transactions.
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