Flywire (NASDAQ:FLYW) Reaches New 12-Month High – What’s Next?

Shares of Flywire Corporation (NASDAQ:FLYW) reached a new 52-week high during trading on Friday. The company traded as high as $19.79 and last traded at $19.69, with a volume of 1,809,111 shares traded. The stock had previously closed at $19.29.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group reiterated a “neutral” rating and issued a $22.00 price objective on shares of Flywire in a report on Wednesday, August 5th. Seaport Research Partners reiterated a “buy” rating and set a $22.00 price objective on shares of Flywire in a research note on Monday, August 17th. Stephens began coverage on Flywire in a report on Friday, October 16th. They set an “equal weight” rating and a $20.00 target price on the stock. Morgan Stanley boosted their target price on Flywire from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Zacks Research downgraded Flywire from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. Seven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, Flywire currently has a consensus rating of “Hold” and a consensus target price of $20.46.

Flywire Stock Up 2.1%

The company has a 50 day moving average of $18.30 and a two-hundred day moving average of $15.53. The firm has a market cap of $2.40 billion, a P/E ratio of 75.73, a PEG ratio of 1.25 and a beta of 1.35.

Flywire (NASDAQ:FLYW) last released its earnings results on Tuesday, August 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). Flywire had a return on equity of 4.08% and a net margin of 4.77%. The firm had revenue of $163.80 million for the quarter, compared to analyst estimates of $156.47 million. During the same period in the previous year, the firm earned ($0.10) earnings per share. Flywire’s revenue was up 27.2% on a year-over-year basis. Research analysts expect that Flywire Corporation will post 0.40 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Voss Capital, Lp sold 172,973 shares of Flywire stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $19.19, for a total value of $3,319,351.87. Following the transaction, the insider owned 369,168 shares of the company’s stock, valued at $7,084,333.92. The trade was a 31.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider David King sold 36,900 shares of Flywire stock in a transaction that occurred on Tuesday, October 13th. The stock was sold at an average price of $18.32, for a total transaction of $676,008.00. Following the completion of the transaction, the insider directly owned 202,404 shares in the company, valued at $3,708,041.28. This represents a 15.42% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 592,618 shares of company stock worth $11,230,341. Corporate insiders own 5.00% of the company’s stock.

Institutional Trading of Flywire

A number of large investors have recently added to or reduced their stakes in FLYW. Wellington Management Group LLP raised its position in shares of Flywire by 1.2% during the second quarter. Wellington Management Group LLP now owns 5,340,579 shares of the company’s stock worth $93,834,000 after purchasing an additional 64,998 shares during the period. Jennison Associates LLC lifted its holdings 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 purchasing an additional 878,248 shares during the last quarter. Wasatch Advisors LP acquired a new position in shares of Flywire in the 2nd quarter valued at $44,026,000. Dimensional Fund Advisors LP boosted its position in shares of Flywire by 18.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,886,865 shares of the company’s stock valued at $21,962,000 after purchasing an additional 295,960 shares during the period. Finally, One Way Holdings LLC increased its stake in Flywire by 7.2% in the 3rd quarter. One Way Holdings LLC now owns 1,131,863 shares of the company’s stock worth $19,808,000 after purchasing an additional 76,310 shares in the last quarter. 95.90% of the stock is currently owned by institutional investors.

About Flywire

Flywire Corp. (NASDAQ: FLYW) is a global payments and software company that helps organizations receive and manage payments from customers and clients in multiple countries and currencies. Its platform is designed to simplify complex, cross-border transactions while providing payment tracking, reconciliation and related accounts-receivable capabilities.

The company serves several major verticals, including education, healthcare, travel and business-to-business payments. Its products and services include international and domestic payment processing, digital billing and invoicing, payment plans, embedded payment solutions and tools that help organizations automate reconciliation and improve the payment experience.

Flywire was founded in 2009 as peerTransfer and is headquartered in Boston, Massachusetts.