Flywire (NASDAQ:FLYW – Get Free Report) had its price objective hoisted by stock analysts at Truist Financial from $19.00 to $23.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial‘s price target would indicate a potential upside of 2.91% from the stock’s current price.
Several other research analysts have also recently weighed in on the stock. Seaport Research Partners restated a “buy” rating and issued a $22.00 price objective on shares of Flywire in a research report on Monday, August 17th. BTIG Research increased their price objective on Flywire from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, November 4th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $25.00 price objective on shares of Flywire in a research report on Wednesday, September 30th. JPMorgan Chase & Co. lifted their target price on Flywire from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Wednesday, November 4th. Finally, Raymond James Financial restated an “outperform” rating and set a $24.00 target price on shares of Flywire in a research report on Wednesday, November 4th. Seven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $22.58.
View Our Latest Stock Report on FLYW
Flywire Trading Up 1.0%
Shares of NASDAQ FLYW opened at $22.35 on Wednesday. Flywire has a 1-year low of $10.55 and a 1-year high of $22.35. The company has a market cap of $2.72 billion, a PE ratio of 37.25, a P/E/G ratio of 1.41 and a beta of 1.32. The company has a 50-day moving average of $18.59 and a two-hundred day moving average of $15.78.
Flywire (NASDAQ:FLYW – Get Free Report) last announced its earnings results on Tuesday, November 3rd. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.26. Flywire had a net margin of 10.34% and a return on equity of 9.25%. The company had revenue of $250.30 million for the quarter, compared to analyst estimates of $233.25 million. During the same period in the prior year, the business earned $0.23 earnings per share. Flywire’s quarterly revenue was up 25.1% on a year-over-year basis. As a group, equities research analysts forecast that Flywire will post 0.40 earnings per share for the current year.
Insider Buying and Selling at Flywire
In other Flywire news, major shareholder Voss Capital, Lp sold 44,768 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $18.78, for a total value of $840,743.04. Following the transaction, the insider directly owned 11,069,321 shares of the company’s stock, valued at approximately $207,881,848.38. This trade represents a 0.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David R. King sold 55,325 shares of Flywire stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $20.05, for a total transaction of $1,109,266.25. Following the sale, the insider directly owned 147,079 shares of the company’s stock, valued at $2,948,933.95. This represents a 27.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 653,996 shares of company stock valued at $12,466,115. 5.00% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the stock. Voya Investment Management LLC grew its stake in shares of Flywire by 62.5% during the third quarter. Voya Investment Management LLC now owns 37,253 shares of the company’s stock worth $652,000 after purchasing an additional 14,330 shares during the period. Teachers Retirement System of The State of Kentucky lifted its stake in Flywire by 13.4% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 78,261 shares of the company’s stock valued at $1,370,000 after buying an additional 9,239 shares during the period. HighTower Advisors LLC bought a new position in Flywire during the third quarter worth about $178,000. Russell Investments Group Ltd. boosted its holdings in Flywire by 95.4% during the third quarter. Russell Investments Group Ltd. now owns 172,348 shares of the company’s stock worth $3,016,000 after buying an additional 84,165 shares during the last quarter. Finally, Fifth Third Bancorp grew its position in shares of Flywire by 4.2% during the 3rd quarter. Fifth Third Bancorp now owns 45,556 shares of the company’s stock worth $797,000 after buying an additional 1,839 shares during the period. Institutional investors and hedge funds own 95.90% of the company’s stock.
Flywire Company Profile
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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