Flywire (NASDAQ:FLYW) Reaches New 1-Year High After Analyst Upgrade

Flywire Corporation (NASDAQ:FLYW)’s stock price reached a new 52-week high on Wednesday after Truist Financial raised their price target on the stock from $19.00 to $23.00. Truist Financial currently has a hold rating on the stock. Flywire traded as high as $22.46 and last traded at $22.40, with a volume of 974,712 shares changing hands. The stock had previously closed at $22.35.

Several other brokerages have also weighed in on FLYW. Wolfe Research raised their price objective on shares of Flywire from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, August 25th. UBS Group upped their target price on shares of Flywire from $19.00 to $21.50 and gave the company a “neutral” rating in a research note on Wednesday, November 4th. Stephens began coverage on Flywire in a report on Friday, October 16th. They issued an “equal weight” rating and a $20.00 price objective for the company. B. Riley Financial restated a “buy” rating and set a $25.00 price objective (up from $24.00) on shares of Flywire in a research note on Wednesday, November 4th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $25.00 target price on shares of Flywire in a report on Wednesday, September 30th. Seven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Flywire currently has a consensus rating of “Hold” and an average target price of $22.58.

Insider Transactions at Flywire

In related news, insider David R. King sold 55,325 shares of the stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $20.05, for a total transaction of $1,109,266.25. Following the sale, the insider owned 147,079 shares in the company, valued at $2,948,933.95. This represents a 27.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Peter Butterfield sold 12,156 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $17.99, for a total transaction of $218,686.44. Following the completion of the transaction, the general counsel directly owned 601,022 shares in the company, valued at $10,812,385.78. This represents a 1.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 653,996 shares of company stock worth $12,466,115. 5.00% of the stock is currently owned by insiders.

Institutional Trading of Flywire

Hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC boosted its position in Flywire by 30.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 5,986 shares of the company’s stock valued at $105,000 after purchasing an additional 1,403 shares during the period. IFP Advisors Inc lifted its stake in Flywire by 168.7% in the third quarter. IFP Advisors Inc now owns 2,483 shares of the company’s stock valued at $43,000 after buying an additional 1,559 shares during the last quarter. Essential Partners LLC lifted its stake in Flywire by 219.1% in the first quarter. Essential Partners LLC now owns 2,288 shares of the company’s stock valued at $27,000 after buying an additional 1,571 shares during the last quarter. Nykredit A S acquired a new position in shares of Flywire during the second quarter valued at $29,000. Finally, Fifth Third Bancorp grew its position in shares of Flywire by 4.2% during the third quarter. Fifth Third Bancorp now owns 45,556 shares of the company’s stock worth $797,000 after acquiring an additional 1,839 shares during the last quarter. Institutional investors own 95.90% of the company’s stock.

Flywire Stock Up 0.3%

The firm’s 50-day moving average price is $18.59 and its 200 day moving average price is $15.78. The firm has a market cap of $2.73 billion, a P/E ratio of 37.37, a price-to-earnings-growth ratio of 1.41 and a beta of 1.32.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.26. The firm had revenue of $250.30 million for the quarter, compared to the consensus estimate of $233.25 million. Flywire had a net margin of 10.34% and a return on equity of 9.25%. Flywire’s quarterly revenue was up 25.1% compared to the same quarter last year. During the same period last year, the firm posted $0.23 EPS. On average, equities analysts predict that Flywire Corporation will post 0.40 earnings per share for the current year.

About Flywire

Flywire Corporation is a global payments and software company that helps businesses and institutions manage domestic and cross-border payments. Its platform connects payment processing with organizations’ existing systems and supports multiple currencies and local payment methods. The company serves customers in sectors including education, healthcare, travel and business-to-business services. Its offerings help organizations collect payments from customers and manage related payment workflows, including international transactions.