Flywire Corporation (NASDAQ:FLYW – Get Free Report)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $19.73 and last traded at $19.42, with a volume of 1275248 shares traded. The stock had previously closed at $19.54.
Wall Street Analyst Weigh In
A number of research firms have recently commented on FLYW. UBS Group upped their price objective on Flywire from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. B. Riley Financial lifted their target price on Flywire from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Morgan Stanley reissued an “overweight” rating and set a $22.00 price target on shares of Flywire in a research report on Wednesday, August 5th. Raymond James Financial restated an “outperform” rating and set a $22.00 price target on shares of Flywire in a research note on Wednesday, May 27th. Finally, Citigroup restated a “neutral” rating on shares of Flywire in a report on Thursday, August 6th. Eight analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $19.85.
View Our Latest Analysis on FLYW
Flywire Price Performance
Flywire (NASDAQ:FLYW – Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.05). Flywire had a net margin of 4.77% and a return on equity of 4.08%. The business had revenue of $163.80 million for the quarter, compared to analyst estimates of $156.47 million. During the same quarter in the previous year, the firm posted ($0.10) EPS. The business’s revenue was up 27.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Flywire Corporation will post 0.4 earnings per share for the current year.
Insider Buying and Selling
In other Flywire news, insider Mohit Kansal sold 54,543 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $15.15, for a total transaction of $826,326.45. Following the transaction, the insider owned 504,320 shares in the company, valued at $7,640,448. The trade was a 9.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Voss Capital, Lp sold 172,973 shares of the company’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $19.19, for a total value of $3,319,351.87. Following the completion of the sale, the insider directly owned 369,168 shares of the company’s stock, valued at $7,084,333.92. The trade was a 31.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 683,662 shares of company stock valued at $12,181,809 over the last ninety days. Insiders own 5.00% of the company’s stock.
Hedge Funds Weigh In On Flywire
Institutional investors and hedge funds have recently bought and sold shares of the stock. Essential Partners LLC raised 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 valued at $27,000 after purchasing an additional 1,571 shares during the period. Nykredit A S acquired a new stake in Flywire during the 2nd quarter valued at $29,000. Global Retirement Partners LLC acquired a new stake in Flywire during the 4th quarter valued at $32,000. KBC Group NV purchased a new stake in Flywire during the 1st quarter worth $38,000. Finally, Leonteq Securities AG increased its stake in Flywire by 267.6% during the 1st quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock worth $41,000 after buying an additional 2,577 shares during the period. Hedge funds and other 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.
Recommended Stories
- Five stocks we like better than Flywire
- Williams-Sonoma’s Quarter Gave Bulls More Than Just a Beat-and-Raise
- Alcoa’s Gallium Project Opens a New Door Beyond Aluminum
- Oura’s $16 Billion IPO Could Put a New Price on Wearable Tech
- Can Tesla’s Flying Roadster Distract From Its Real Risks?
Receive News & Ratings for Flywire Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flywire and related companies with MarketBeat.com's FREE daily email newsletter.
