Flywire Corporation (NASDAQ:FLYW) Receives Consensus Rating of “Moderate Buy” from Analysts

Flywire Corporation (NASDAQ:FLYW) has received a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $20.2308.

Several research analysts recently commented on the stock. New Street Research set a $16.00 target price on shares of Flywire in a report on Thursday, May 21st. B. Riley Financial upped their price target on shares of Flywire from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Seaport Research Partners reaffirmed a “buy” rating and issued a $22.00 price target on shares of Flywire in a research report on Monday, August 17th. UBS Group lifted their price objective on Flywire from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Finally, Zacks Research cut Flywire from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th.

Flywire Stock Down 1.2%

Shares of Flywire stock opened at $17.76 on Thursday. The stock has a market capitalization of $2.16 billion, a P/E ratio of 68.31, a PEG ratio of 1.15 and a beta of 1.30. The stock has a 50 day moving average price of $17.96 and a two-hundred day moving average price of $15.44. Flywire has a 12-month low of $10.55 and a 12-month high of $19.73.

Flywire (NASDAQ:FLYW) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). Flywire had a net margin of 4.77% and a return on equity of 4.08%. The firm had revenue of $163.80 million during the quarter, compared to the consensus estimate of $156.47 million. During the same period in the prior year, the business earned ($0.10) EPS. The company’s revenue for the quarter was up 27.2% compared to the same quarter last year. Sell-side analysts anticipate that Flywire will post 0.4 earnings per share for the current year.

Insiders Place Their Bets

In other Flywire news, insider Mohit Kansal sold 54,543 shares of Flywire stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $15.15, for a total value of $826,326.45. Following the transaction, the insider directly owned 504,320 shares of the company’s stock, valued at $7,640,448. The trade was a 9.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael Massaro sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $15.26, for a total value of $763,000.00. Following the transaction, the chief executive officer owned 2,678,051 shares of the company’s stock, valued at approximately $40,867,058.26. This trade represents a 1.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 658,283 shares of company stock valued at $12,085,319. Corporate insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Flywire

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC increased its stake in Flywire by 110.8% during the first quarter. Renaissance Technologies LLC now owns 887,200 shares of the company’s stock valued at $10,327,000 after acquiring an additional 466,300 shares during the period. Voss Capital LP lifted its position in shares of Flywire by 21.5% in the 4th quarter. Voss Capital LP now owns 11,750,000 shares of the company’s stock worth $166,380,000 after acquiring an additional 2,080,202 shares during the period. AlphaQuest LLC lifted its position in shares of Flywire by 372.4% in the 4th quarter. AlphaQuest LLC now owns 105,448 shares of the company’s stock worth $1,493,000 after acquiring an additional 83,128 shares during the period. North Reef Capital Management LP grew its holdings in shares of Flywire by 83.3% during the 1st quarter. North Reef Capital Management LP now owns 1,100,000 shares of the company’s stock worth $12,804,000 after purchasing an additional 499,999 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Flywire by 103.3% during the 4th quarter. BNP Paribas Financial Markets now owns 1,023,958 shares of the company’s stock worth $14,499,000 after purchasing an additional 520,256 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.