Flywire Co. (NASDAQ:FLYW) Receives Average Rating of “Hold” from Analysts

Flywire Co. (NASDAQ:FLYW) has been given a consensus recommendation of “Hold” by the fifteen analysts that are covering the stock, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $18.23.

FLYW has been the subject of a number of recent research reports. Seaport Res Ptn lowered Flywire from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Morgan Stanley decreased their price target on Flywire from $21.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Royal Bank of Canada reduced their price target on shares of Flywire from $25.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Raymond James cut shares of Flywire from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from $29.00 to $17.00 in a research report on Wednesday, February 26th. Finally, BTIG Research downgraded Flywire from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 26th.

Flywire Trading Down 1.9 %

NASDAQ FLYW opened at $10.02 on Thursday. The company has a market cap of $1.24 billion, a P/E ratio of 66.80, a P/E/G ratio of 1.41 and a beta of 1.17. The company has a fifty day simple moving average of $15.63 and a 200 day simple moving average of $17.91. Flywire has a 1 year low of $8.62 and a 1 year high of $25.10.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The company had revenue of $112.80 million during the quarter, compared to analyst estimates of $118.85 million. Flywire had a return on equity of 2.49% and a net margin of 4.23%. Equities research analysts forecast that Flywire will post 0.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Gretchen Howard acquired 8,889 shares of Flywire stock in a transaction dated Thursday, February 27th. The stock was bought at an average cost of $10.94 per share, with a total value of $97,245.66. Following the completion of the transaction, the director now directly owns 30,770 shares of the company’s stock, valued at approximately $336,623.80. This represents a 40.62 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Peter Butterfield sold 5,523 shares of Flywire stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $10.08, for a total transaction of $55,671.84. Following the completion of the sale, the general counsel now owns 247,561 shares in the company, valued at $2,495,414.88. This trade represents a 2.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Flywire

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Quest Partners LLC grew its holdings in Flywire by 575.1% during the third quarter. Quest Partners LLC now owns 14,622 shares of the company’s stock worth $240,000 after purchasing an additional 12,456 shares during the period. Advisors Asset Management Inc. raised its holdings in Flywire by 15.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock valued at $66,000 after acquiring an additional 539 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Flywire during the 3rd quarter valued at $529,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Flywire by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 931,914 shares of the company’s stock worth $15,274,000 after purchasing an additional 21,655 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Flywire in the third quarter worth $275,000. 95.90% of the stock is owned by institutional investors.

Flywire Company Profile

Flywire Corporation, together with its subsidiaries, operates as a payments enablement and software company in the United States and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay. The company’s platform facilitates payment flows across multiple currencies, payment types, and payment options, as well as provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.