Flywire (NASDAQ:FLYW) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Flywire (NASDAQ:FLYW) from a hold rating to a buy rating in a research report sent to investors on Saturday.

FLYW has been the subject of several other reports. Royal Bank Of Canada lifted their price target on Flywire from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Weiss Ratings reissued a “sell (d)” rating on shares of Flywire in a report on Thursday, January 22nd. Stephens raised Flywire from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $17.00 to $19.00 in a report on Friday, January 16th. Morgan Stanley raised Flywire from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $15.00 to $17.00 in a report on Monday, March 2nd. Finally, UBS Group dropped their price target on Flywire from $15.50 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, February 25th. Six analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $16.18.

Flywire Trading Up 1.3%

Shares of NASDAQ FLYW opened at $13.61 on Friday. Flywire has a 12 month low of $8.51 and a 12 month high of $15.25. The stock has a 50 day moving average of $12.04 and a 200-day moving average of $13.07. The company has a market capitalization of $1.65 billion, a P/E ratio of 136.11, a P/E/G ratio of 1.15 and a beta of 1.26.

Flywire (NASDAQ:FLYW) last issued its earnings results on Tuesday, February 24th. The company reported $105.55 EPS for the quarter, topping the consensus estimate of ($0.01) by $105.56. Flywire had a return on equity of 2.76% and a net margin of 2.17%.The company had revenue of $157.54 million during the quarter, compared to the consensus estimate of $144.96 million. During the same period in the previous year, the company posted ($0.12) EPS. The firm’s revenue for the quarter was up 34.0% compared to the same quarter last year. Analysts predict that Flywire will post 0.14 EPS for the current fiscal year.

Insider Activity at Flywire

In other Flywire news, General Counsel Peter Butterfield sold 9,009 shares of Flywire stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $13.05, for a total value of $117,567.45. Following the completion of the transaction, the general counsel directly owned 532,962 shares of the company’s stock, valued at $6,955,154.10. The trade was a 1.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Voss Capital, Lp acquired 25,000 shares of the company’s stock in a transaction on Friday, February 13th. The stock was bought at an average cost of $10.99 per share, with a total value of $274,750.00. Following the completion of the acquisition, the insider directly owned 2,300,000 shares in the company, valued at approximately $25,277,000. This represents a 1.10% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Flywire

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC acquired a new position in Flywire in the 4th quarter valued at $593,000. Rockefeller Capital Management L.P. raised its holdings in Flywire by 29.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 36,033 shares of the company’s stock valued at $510,000 after acquiring an additional 8,112 shares in the last quarter. Invesco Ltd. raised its holdings in Flywire by 18.3% in the 4th quarter. Invesco Ltd. now owns 176,827 shares of the company’s stock valued at $2,504,000 after acquiring an additional 27,296 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in Flywire in the 4th quarter valued at $166,000. Finally, Wellington Management Group LLP raised its holdings in Flywire by 43.8% in the 4th 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. 95.90% of the stock is owned by institutional investors and hedge funds.

Flywire Company Profile

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.