Flywire’s (FLYW) Outperform Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada restated their outperform rating on shares of Flywire (NASDAQ:FLYW – Free Report) in a research note published on Wednesday,Benzinga reports. Royal Bank Of Canada currently has a $25.00 price objective on the stock.

Several other brokerages have also commented on FLYW. Truist Financial raised their price objective on Flywire from $17.00 to $19.00 and gave the company a “hold” rating in a research report on Friday, August 14th. UBS Group reaffirmed a “neutral” rating on shares of Flywire in a research report on Thursday, September 17th. B. Riley Financial increased their price target on shares of Flywire from $22.00 to $24.00 and gave the stock a “buy” rating in a research note 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. Finally, Wolfe Research boosted their price objective on shares of Flywire from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 25th. Eight analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Flywire currently has an average rating of “Moderate Buy” and a consensus target price of $20.23.

View Our Latest Stock Report on FLYW

Flywire Stock Performance

FLYW stock opened at $17.58 on Wednesday. Flywire has a fifty-two week low of $10.55 and a fifty-two week high of $19.73. The business’s 50 day moving average price is $17.86 and its two-hundred day moving average price is $16.02. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 67.62, a price-to-earnings-growth ratio of 1.12 and a beta of 1.35.

Flywire (NASDAQ:FLYW – Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). Flywire had a net margin of 4.77% and a return on equity of 4.08%. The firm had revenue of $163.80 million during the quarter, compared to analysts’ expectations of $156.47 million. During the same quarter in the previous year, the business earned ($0.10) EPS. The company’s revenue for the quarter was up 27.2% compared to the same quarter last year. Sell-side analysts forecast that Flywire will post 0.4 earnings per share for the current year.

Insider Buying and Selling at Flywire

In related news, General Counsel Peter Butterfield sold 12,156 shares of the stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $17.99, for a total transaction of $218,686.44. Following the sale, the general counsel directly owned 601,022 shares of the company’s stock, valued at approximately $10,812,385.78. This represents a 1.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Voss Capital, Lp sold 172,973 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $19.19, for a total transaction of $3,319,351.87. Following the sale, the insider owned 369,168 shares of the company’s stock, valued at approximately $7,084,333.92. This represents a 31.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 555,718 shares of company stock valued at $10,554,333 over the last 90 days. Corporate insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Flywire

Institutional investors have recently made changes to their positions in the company. Voss Capital LP lifted its holdings in shares of Flywire by 21.5% during 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 in the last quarter. Wellington Management Group LLP increased its holdings in Flywire by 1.2% in the 2nd quarter. Wellington Management Group LLP now owns 5,340,579 shares of the company’s stock worth $93,834,000 after buying an additional 64,998 shares in the last quarter. Jennison Associates LLC increased its holdings in Flywire by 19.9% in the 1st quarter. Jennison Associates LLC now owns 5,298,881 shares of the company’s stock worth $61,679,000 after buying an additional 878,248 shares in the last quarter. Mangrove Partners IM LLC raised its position in Flywire by 2.8% in the 4th quarter. Mangrove Partners IM LLC now owns 2,984,076 shares of the company’s stock worth $42,255,000 after buying an additional 82,383 shares during the last quarter. Finally, Wasatch Advisors LP purchased a new position in Flywire in the 2nd quarter worth about $44,026,000. Hedge funds and other institutional investors own 95.90% of the company’s stock.

About Flywire

(Get Free Report)

Flywire Corporation (NASDAQ: FLYW) is a global payments and software company that helps organizations receive and manage payments from customers, students, patients and other payers. Its platform supports domestic and international transactions, payment processing, invoicing, identity verification, reconciliation and related accounts-receivable workflows.

The company primarily serves the education, healthcare, travel and business-to-business sectors. Its solutions are used by universities and colleges to collect tuition and other fees, healthcare providers to manage patient payments, travel companies to process payments and businesses to facilitate invoicing and cross-border receivables.

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Analyst Recommendations for Flywire (NASDAQ:FLYW)

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