Flywire’s (FLYW) Hold Rating Reiterated at Truist Financial

Truist Financial reissued their hold rating on shares of Flywire (NASDAQ:FLYW) in a research note published on Friday, MarketBeat reports. The firm currently has a $17.00 price target on the stock, down from their previous price target of $18.00.

A number of other research analysts also recently issued reports on the company. The Goldman Sachs Group boosted their price objective on Flywire from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Zacks Research lowered shares of Flywire from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. Wall Street Zen lowered shares of Flywire from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Citigroup increased their price objective on shares of Flywire from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, Morgan Stanley raised their price objective on shares of Flywire from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Eight investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.69.

Flywire Price Performance

Shares of Flywire stock opened at $15.89 on Friday. Flywire has a 1-year low of $10.10 and a 1-year high of $18.98. The company’s fifty day simple moving average is $16.47 and its 200-day simple moving average is $14.20. The stock has a market capitalization of $1.96 billion, a PE ratio of 69.09, a P/E/G ratio of 1.62 and a beta of 1.32.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, May 5th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.07. Flywire had a return on equity of 3.78% and a net margin of 4.45%.The company had revenue of $184.00 million for the quarter, compared to analysts’ expectations of $170.24 million. During the same period last year, the firm earned ($0.03) EPS. Flywire’s revenue for the quarter was up 40.9% compared to the same quarter last year. As a group, research analysts anticipate that Flywire will post 0.28 EPS for the current year.

Insider Buying and Selling

In other Flywire news, Director Phillip John Riese sold 5,000 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $15.43, for a total transaction of $77,150.00. Following the completion of the transaction, the director owned 234,493 shares of the company’s stock, valued at $3,618,226.99. This represents a 2.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Rob Orgel sold 178,980 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $17.00, for a total value of $3,042,660.00. Following the transaction, the chief operating officer directly owned 959,061 shares of the company’s stock, valued at approximately $16,304,037. The trade was a 15.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 410,391 shares of company stock worth $6,700,493 in the last 90 days. 5.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Voss Capital LP raised its holdings in shares of Flywire by 21.5% in the fourth quarter. Voss Capital LP now owns 11,750,000 shares of the company’s stock worth $166,380,000 after buying an additional 2,080,202 shares during the period. Jennison Associates LLC increased its stake in shares of Flywire by 19.9% during the first quarter. Jennison Associates LLC now owns 5,298,881 shares of the company’s stock valued at $61,679,000 after buying an additional 878,248 shares during the period. Wellington Management Group LLP raised its holdings in shares of Flywire by 43.8% in the fourth quarter. Wellington Management Group LLP now owns 4,828,197 shares of the company’s stock valued at $68,367,000 after acquiring an additional 1,470,011 shares in the last quarter. Mangrove Partners IM LLC lifted its stake in Flywire by 2.8% in the fourth quarter. Mangrove Partners IM LLC now owns 2,984,076 shares of the company’s stock worth $42,255,000 after acquiring an additional 82,383 shares during the period. Finally, Wasatch Advisors LP purchased a new position in Flywire during the second quarter valued at approximately $44,026,000. 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.