Flywire (NASDAQ:FLYW) Downgraded by Wall Street Zen to “Hold”

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

Other equities research analysts also recently issued reports about the company. Raymond James Financial reaffirmed an “outperform” rating and set a $21.00 price target on shares of Flywire in a research note on Wednesday, May 6th. BTIG Research raised their price target on Flywire from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Citigroup raised their price target on Flywire from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $17.00 price target on shares of Flywire in a research note on Wednesday, May 6th. Finally, Stephens raised Flywire from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $17.00 to $19.00 in a research note on Friday, January 16th. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.17.

Flywire Trading Down 1.8%

Shares of Flywire stock opened at $16.06 on Friday. The stock has a 50-day moving average price of $13.30 and a 200 day moving average price of $13.31. The company has a market cap of $1.98 billion, a P/E ratio of 69.83, a P/E/G ratio of 1.14 and a beta of 1.30. Flywire has a 1 year low of $9.97 and a 1 year high of $18.05.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.07. Flywire had a return on equity of 3.78% and a net margin of 4.45%.The firm had revenue of $184.00 million during the quarter, compared to the consensus estimate of $170.24 million. During the same period in the prior year, the business earned ($0.03) EPS. The business’s revenue for the quarter was up 40.9% on a year-over-year basis. On average, equities analysts forecast that Flywire will post 0.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Flywire news, Director Phillip John Riese sold 37,921 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $16.87, for a total value of $639,727.27. Following the sale, the director owned 234,493 shares of the company’s stock, valued at $3,955,896.91. This trade represents a 13.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Mohit Kansal sold 16,101 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $15.90, for a total value of $256,005.90. Following the completion of the sale, the insider directly owned 567,794 shares in the company, valued at $9,027,924.60. This trade represents a 2.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 114,511 shares of company stock worth $1,859,470. Insiders own 4.40% of the company’s stock.

Institutional Trading of Flywire

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC acquired a new stake in Flywire in the 4th quarter valued at approximately $32,000. Covestor Ltd grew its holdings in Flywire by 217.9% in the 3rd quarter. Covestor Ltd now owns 3,233 shares of the company’s stock valued at $43,000 after buying an additional 2,216 shares during the last quarter. KBC Group NV acquired a new stake in Flywire in the 1st quarter valued at approximately $38,000. Leonteq Securities AG grew its holdings in Flywire by 267.6% in the 1st quarter. Leonteq Securities AG now owns 3,540 shares of the company’s stock valued at $41,000 after buying an additional 2,577 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new stake in Flywire in the 3rd quarter valued at approximately $67,000. Institutional investors and hedge funds 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.