Flywire (NASDAQ:FLYW) Sees Large Volume Increase – Here’s Why

Flywire Co. (NASDAQ:FLYW) shares saw strong trading volume on Monday . 3,397,344 shares changed hands during trading, an increase of 39% from the previous session’s volume of 2,440,257 shares.The stock last traded at $10.52 and had previously closed at $9.96.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut shares of Flywire from a “buy” rating to a “hold” rating and lowered their target price for the company from $26.00 to $16.00 in a report on Wednesday, February 26th. Raymond James downgraded shares of Flywire from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the company from $29.00 to $17.00 in a research note on Wednesday, February 26th. Morgan Stanley dropped their price objective on Flywire from $21.00 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Wells Fargo & Company reduced their target price on Flywire from $20.00 to $16.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group downgraded Flywire from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $26.00 to $15.00 in a research note on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Flywire presently has an average rating of “Hold” and a consensus price target of $18.23.

Flywire Trading Up 1.4 %

The company’s 50 day moving average price is $16.18 and its 200 day moving average price is $18.07. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 67.37, a PEG ratio of 1.41 and a beta of 1.17.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). The business had revenue of $112.80 million during the quarter, compared to analysts’ expectations of $118.85 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. Sell-side analysts predict that Flywire Co. will post 0.14 earnings per share for the current year.

Insider Buying and Selling

In related news, General Counsel Peter Butterfield sold 5,523 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $10.08, for a total transaction of $55,671.84. Following the sale, the general counsel now owns 247,561 shares of the company’s stock, valued at approximately $2,495,414.88. The trade was a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gretchen Howard bought 8,889 shares of the company’s stock in a transaction on Thursday, February 27th. The stock was bought at an average cost of $10.94 per share, with a total value of $97,245.66. Following the completion of the acquisition, the director now owns 30,770 shares of the company’s stock, valued at $336,623.80. This represents a 40.62 % increase in their position. The disclosure for this purchase can be found here. 3.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Flywire

Institutional investors and hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in Flywire during the fourth quarter worth $35,579,000. Voss Capital LP acquired a new position in shares of Flywire during the 4th quarter worth $30,621,000. Teacher Retirement System of Texas purchased a new stake in shares of Flywire in the 4th quarter worth about $24,363,000. Jennison Associates LLC grew its stake in Flywire by 53.0% in the 4th quarter. Jennison Associates LLC now owns 3,406,312 shares of the company’s stock valued at $70,238,000 after acquiring an additional 1,179,562 shares during the last quarter. Finally, Wasatch Advisors LP grew its stake in Flywire by 62.1% in the 4th quarter. Wasatch Advisors LP now owns 2,741,644 shares of the company’s stock valued at $56,533,000 after acquiring an additional 1,049,888 shares during the last quarter. Institutional investors and hedge funds own 95.90% of the company’s stock.

About Flywire

Flywire Corporation, together with its subsidiaries, operates as a payments enablement and software company in the United States and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay. The company’s platform facilitates payment flows across multiple currencies, payment types, and payment options, as well as provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.