Flywire (NASDAQ:FLYW) Sees Large Volume Increase – Still a Buy?

Flywire Co. (NASDAQ:FLYW) saw unusually-strong trading volume on Monday . Approximately 3,397,344 shares traded hands during mid-day trading, an increase of 39% from the previous session’s volume of 2,440,257 shares.The stock last traded at $10.52 and had previously closed at $9.96.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on FLYW shares. Wells Fargo & Company cut their target price on shares of Flywire from $20.00 to $16.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft downgraded shares of Flywire from a “buy” rating to a “hold” rating and lowered their price target for the company from $26.00 to $16.00 in a report on Wednesday, February 26th. The Goldman Sachs Group downgraded Flywire from a “buy” rating to a “neutral” rating and cut their target price for the company from $26.00 to $15.00 in a research report on Wednesday, February 26th. Royal Bank of Canada decreased their price target on Flywire from $25.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Finally, BTIG Research lowered shares of Flywire from a “buy” rating to a “neutral” rating in a report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $18.23.

Flywire Stock Up 2.2 %

The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 69.65, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17. The stock’s 50 day moving average price is $15.83 and its two-hundred day moving average price is $17.97.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 4.23% and a return on equity of 2.49%. On average, analysts predict that Flywire Co. will post 0.14 earnings per share for the current fiscal year.

Insider Transactions at Flywire

In other news, General Counsel Peter Butterfield sold 5,523 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $2,495,414.88. The trade was a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gretchen Howard purchased 8,889 shares of Flywire stock in a transaction dated Thursday, February 27th. The shares were bought at an average price of $10.94 per share, for a total transaction of $97,245.66. Following the acquisition, the director now owns 30,770 shares in the company, valued at approximately $336,623.80. This trade represents a 40.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 3.90% of the company’s stock.

Institutional Trading of Flywire

A number of hedge funds and other institutional investors have recently modified their holdings of FLYW. Vanguard Group Inc. boosted its stake in Flywire by 6.9% during the fourth quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company’s stock worth $249,238,000 after buying an additional 781,711 shares during the period. FMR LLC lifted its stake in Flywire by 3.6% during the third quarter. FMR LLC now owns 9,408,098 shares of the company’s stock worth $154,199,000 after purchasing an additional 326,120 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Flywire by 53.0% during the fourth quarter. Jennison Associates LLC now owns 3,406,312 shares of the company’s stock worth $70,238,000 after buying an additional 1,179,562 shares during the period. State Street Corp grew its stake in shares of Flywire by 5.2% in the third quarter. State Street Corp now owns 2,930,906 shares of the company’s stock valued at $48,038,000 after buying an additional 145,894 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Flywire by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 2,828,430 shares of the company’s stock valued at $58,335,000 after buying an additional 28,944 shares during the period. 95.90% of the stock is owned by institutional investors and hedge funds.

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.