Flywire Corporation (NASDAQ:FLYW – Get Free Report)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $18.07 and last traded at $18.00, with a volume of 392850 shares changing hands. The stock had previously closed at $17.57.
Analyst Ratings Changes
Several research analysts have recently weighed in on FLYW shares. Zacks Research raised Flywire from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 20th. Wall Street Zen cut Flywire from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. New Street Research set a $16.00 price target on Flywire in a research report on Thursday, May 21st. Deutsche Bank Aktiengesellschaft raised shares of Flywire to an “outperform” rating in a research note on Wednesday, May 27th. Finally, JPMorgan Chase & Co. upgraded shares of Flywire from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $14.00 to $16.00 in a report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.07.
Check Out Our Latest Stock Analysis on FLYW
Flywire Stock Performance
Flywire (NASDAQ:FLYW – Get Free Report) last released 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 business had revenue of $184.00 million for the quarter, compared to the consensus estimate of $170.24 million. During the same quarter in the previous year, the business earned ($0.03) earnings per share. Flywire’s quarterly revenue was up 40.9% on a year-over-year basis. Research analysts anticipate that Flywire Corporation will post 0.28 EPS for the current year.
Insider Activity
In other news, COO Rob Orgel sold 178,980 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $17.00, for a total transaction of $3,042,660.00. Following the sale, the chief operating officer owned 959,061 shares in the company, valued at $16,304,037. This represents a 15.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Peter Butterfield sold 6,528 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were 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. The trade was a 0.99% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 410,391 shares of company stock worth $6,700,493. Corporate insiders own 5.00% of the company’s stock.
Institutional Trading of Flywire
Several institutional investors and hedge funds have recently added to or reduced their stakes in FLYW. Mangrove Partners IM LLC acquired a new stake in Flywire during the 3rd quarter valued at $39,289,000. Wellington Management Group LLP increased its holdings in shares of Flywire by 173.3% in the third quarter. Wellington Management Group LLP now owns 3,358,186 shares of the company’s stock valued at $45,470,000 after purchasing an additional 2,129,514 shares during the last quarter. Voss Capital LP raised its position 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 purchasing an additional 2,080,202 shares during the period. Jennison Associates LLC raised its position in shares of Flywire by 35.2% in the fourth quarter. Jennison Associates LLC now owns 4,420,633 shares of the company’s stock valued at $62,596,000 after purchasing an additional 1,150,802 shares during the period. Finally, Cooper Creek Partners Management LLC acquired a new stake in shares of Flywire during the 3rd quarter worth about $15,433,000. 95.90% of the stock is 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.
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