Flywire (NASDAQ:FLYW) Stock Rating Upgraded by Seaport Res Ptn

Flywire (NASDAQ:FLYW) was upgraded by equities researchers at Seaport Res Ptn from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Other analysts also recently issued reports about the stock. Stephens reissued an “equal weight” rating and issued a $13.00 target price on shares of Flywire in a research report on Monday, September 22nd. B. Riley upped their price objective on shares of Flywire from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, January 9th. The Goldman Sachs Group raised their target price on Flywire from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Citigroup upgraded Flywire to a “hold” rating in a research note on Thursday, October 23rd. Finally, Zacks Research raised Flywire from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 19th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Flywire presently has a consensus rating of “Hold” and a consensus target price of $15.19.

Flywire Stock Down 0.1%

FLYW stock opened at $14.29 on Wednesday. The company has a 50 day moving average of $14.06 and a two-hundred day moving average of $13.09. The company has a market cap of $1.75 billion, a price-to-earnings ratio of -714.14, a PEG ratio of 1.50 and a beta of 1.28. Flywire has a 12-month low of $8.20 and a 12-month high of $21.31. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.02.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. Flywire had a negative net margin of 0.42% and a positive return on equity of 0.80%. The business had revenue of $194.10 million for the quarter, compared to the consensus estimate of $180.07 million. During the same period in the prior year, the business posted $0.30 earnings per share. Flywire’s revenue for the quarter was up 27.6% compared to the same quarter last year. On average, equities analysts anticipate that Flywire will post 0.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Phillip John Riese sold 16,612 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $15.08, for a total transaction of $250,508.96. Following the completion of the transaction, the director directly owned 234,493 shares in the company, valued at $3,536,154.44. The trade was a 6.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Peter Butterfield sold 13,327 shares of the business’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $15.01, for a total transaction of $200,038.27. Following the transaction, the general counsel directly owned 374,933 shares in the company, valued at $5,627,744.33. This trade represents a 3.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 39,526 shares of company stock valued at $583,717 in the last three months. Company insiders own 4.40% of the company’s stock.

Institutional Trading of Flywire

A number of hedge funds have recently modified their holdings of the company. Voss Capital LP grew its stake in Flywire by 176.0% in the second quarter. Voss Capital LP now owns 8,100,000 shares of the company’s stock valued at $94,770,000 after acquiring an additional 5,165,014 shares during the period. Divisadero Street Capital Management LP increased its holdings in shares of Flywire by 178.0% during the 2nd quarter. Divisadero Street Capital Management LP now owns 4,784,654 shares of the company’s stock worth $55,980,000 after acquiring an additional 3,063,518 shares during the last quarter. Mangrove Partners IM LLC bought a new stake in shares of Flywire during the 3rd quarter worth about $39,289,000. Azora Capital LP bought a new position in shares of Flywire during the second quarter worth approximately $33,355,000. Finally, Wellington Management Group LLP raised its position in shares of Flywire by 173.3% in the third quarter. Wellington Management Group LLP now owns 3,358,186 shares of the company’s stock valued at $45,470,000 after buying an additional 2,129,514 shares in the last quarter. Institutional investors own 95.90% of the company’s stock.

About Flywire

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.