Shares of Flywire Corporation (NASDAQ:FLYW – Get Free Report) have received an average recommendation of “Hold” from the fifteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $19.5385.
FLYW has been the subject of several research reports. Weiss Ratings cut shares of Flywire from a “hold (c)” rating to a “sell (d+)” rating in a research note on Thursday, August 6th. BTIG Research reiterated a “buy” rating and set a $20.00 price objective on shares of Flywire in a research note on Tuesday, July 21st. Wall Street Zen downgraded Flywire from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. B. Riley Financial raised their target price on shares of Flywire from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $22.00 target price on shares of Flywire in a report on Wednesday, August 5th.
Read Our Latest Analysis on Flywire
Flywire Trading Up 3.1%
Flywire (NASDAQ:FLYW – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). The company had revenue of $163.80 million during the quarter, compared to the consensus estimate of $156.47 million. Flywire had a net margin of 4.77% and a return on equity of 4.08%. The business’s quarterly revenue was up 27.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.10) EPS. On average, analysts forecast that Flywire will post 0.4 earnings per share for the current year.
Insider Activity at Flywire
In other news, CEO Michael Massaro sold 50,000 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $15.26, for a total value of $763,000.00. Following the sale, the chief executive officer directly owned 2,678,051 shares of the company’s stock, valued at approximately $40,867,058.26. This represents a 1.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Phillip John Riese sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $15.43, for a total transaction of $77,150.00. Following the completion of the sale, the director owned 234,493 shares of the company’s stock, valued at $3,618,226.99. This trade represents a 2.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 304,889 shares of company stock worth $4,958,590 over the last ninety days. Company insiders own 5.00% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in FLYW. Essential Partners LLC raised its stake in Flywire by 219.1% in the 1st quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock valued at $27,000 after acquiring an additional 1,571 shares during the period. Global Retirement Partners LLC bought a new position in Flywire during the fourth quarter worth $32,000. KBC Group NV bought a new position in Flywire during the first quarter worth $38,000. Leonteq Securities AG increased its holdings in shares of Flywire by 267.6% in the first 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 last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Flywire by 78.4% in the second quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock valued at $66,000 after purchasing an additional 2,497 shares during the last quarter. 95.90% of the stock is currently 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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