Flywire Co. (NASDAQ:FLYW) Given Consensus Rating of “Hold” by Brokerages

Shares of Flywire Co. (NASDAQ:FLYW) have been given a consensus rating of “Hold” by the fifteen ratings firms that are currently covering the company, MarketBeat.com reports. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $17.92.

Several equities research analysts have recently issued reports on FLYW shares. Royal Bank of Canada decreased their price objective on Flywire from $25.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. BTIG Research cut Flywire from a “buy” rating to a “neutral” rating in a report on Wednesday, February 26th. Raymond James lowered shares of Flywire from a “strong-buy” rating to an “outperform” rating and cut their price objective for the stock from $29.00 to $17.00 in a report on Wednesday, February 26th. Wells Fargo & Company dropped their price target on shares of Flywire from $20.00 to $16.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Finally, Seaport Res Ptn lowered shares of Flywire from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Flywire

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Flywire by 6.9% during the fourth quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company’s stock valued at $249,238,000 after acquiring an additional 781,711 shares in the last quarter. FMR LLC boosted its holdings in Flywire by 3.6% in the third quarter. FMR LLC now owns 9,408,098 shares of the company’s stock valued at $154,199,000 after purchasing an additional 326,120 shares during the last quarter. Jennison Associates LLC boosted its holdings in Flywire by 53.0% in the fourth quarter. Jennison Associates LLC now owns 3,406,312 shares of the company’s stock valued at $70,238,000 after purchasing an additional 1,179,562 shares during the last quarter. State Street Corp grew its stake in Flywire by 5.2% during the 3rd quarter. State Street Corp now owns 2,930,906 shares of the company’s stock valued at $48,038,000 after purchasing an additional 145,894 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Flywire by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 2,828,430 shares of the company’s stock worth $58,335,000 after purchasing an additional 28,944 shares during the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Flywire Trading Up 2.8 %

NASDAQ:FLYW opened at $9.83 on Thursday. Flywire has a 12-month low of $8.62 and a 12-month high of $24.33. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 65.53, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17. The company’s 50-day moving average is $14.62 and its two-hundred day moving average is $17.64.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The firm had revenue of $112.80 million for 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%. On average, equities research analysts forecast that Flywire will post 0.14 earnings per share for the current fiscal year.

Flywire Company Profile

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.