Flywire (NASDAQ:FLYW) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Flywire (NASDAQ:FLYW) from a hold rating to a buy rating in a report released on Saturday morning.

A number of other research firms have also recently weighed in on FLYW. Seaport Res Ptn upgraded Flywire from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. B. Riley increased their price objective on shares of Flywire from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Truist Financial raised their target price on shares of Flywire from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. The Goldman Sachs Group upped their price target on shares of Flywire from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Finally, Zacks Research raised shares of Flywire from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Flywire has an average rating of “Hold” and a consensus price target of $15.65.

Flywire Stock Down 0.6%

Shares of FLYW stock opened at $13.79 on Friday. Flywire has a 52-week low of $8.20 and a 52-week high of $21.31. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of -689.16, a PEG ratio of 1.56 and a beta of 1.28. The firm’s 50-day moving average is $14.07 and its 200-day moving average is $13.12. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.53 and a current ratio of 1.53.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. The business had revenue of $194.10 million during the quarter, compared to analysts’ expectations of $180.07 million. Flywire had a positive return on equity of 0.80% and a negative net margin of 0.42%.Flywire’s quarterly revenue was up 27.6% on a year-over-year basis. During the same quarter last year, the company posted $0.30 earnings per share. Sell-side analysts predict that Flywire will post 0.14 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Voss Capital, Lp purchased 181,121 shares of Flywire stock in a transaction that occurred on Tuesday, December 30th. The shares were acquired at an average price of $14.15 per share, with a total value of $2,562,862.15. Following the completion of the transaction, the insider directly owned 9,625,009 shares of the company’s stock, valued at $136,193,877.35. This represents a 1.92% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Peter Butterfield sold 13,327 shares of the firm’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $15.01, for a total value of $200,038.27. Following the transaction, the general counsel owned 374,933 shares in the company, valued at approximately $5,627,744.33. This trade represents a 3.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 39,526 shares of company stock worth $583,717 in the last quarter. Corporate insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FLYW. Voss Capital LP lifted its position in Flywire by 176.0% during the second quarter. Voss Capital LP now owns 8,100,000 shares of the company’s stock worth $94,770,000 after purchasing an additional 5,165,014 shares during the period. Divisadero Street Capital Management LP raised its position in shares of Flywire by 178.0% in the 2nd quarter. Divisadero Street Capital Management LP now owns 4,784,654 shares of the company’s stock valued at $55,980,000 after buying an additional 3,063,518 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Flywire by 173.3% during the 3rd quarter. Wellington Management Group LLP now owns 3,358,186 shares of the company’s stock worth $45,470,000 after acquiring an additional 2,129,514 shares during the period. Mangrove Partners IM LLC bought a new stake in shares of Flywire during the 3rd quarter worth approximately $39,289,000. Finally, Azora Capital LP acquired a new stake in shares of Flywire during the 2nd quarter worth approximately $33,355,000. 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.