Flywire (NASDAQ:FLYW) Trading 5.2% Higher – Here’s Why

Flywire Corporation (NASDAQ:FLYW)’s stock price was up 5.2% during mid-day trading on Tuesday . The company traded as high as $16.26 and last traded at $16.1060. Approximately 631,585 shares traded hands during trading, a decline of 66% from the average daily volume of 1,864,858 shares. The stock had previously closed at $15.31.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Morgan Stanley raised their price objective on Flywire from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Raymond James Financial reissued an “outperform” rating and set a $22.00 price objective on shares of Flywire in a research report on Wednesday, May 27th. Weiss Ratings raised Flywire from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. JPMorgan Chase & Co. raised Flywire from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $14.00 to $16.00 in a research report on Thursday, May 21st. Finally, Zacks Research raised Flywire from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.07.

Flywire Price Performance

The stock has a 50 day moving average price of $14.56 and a two-hundred day moving average price of $13.57. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 69.00, a PEG ratio of 1.01 and a beta of 1.34.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.07. Flywire had a return on equity of 3.78% and a net margin of 4.45%.The business had revenue of $184.00 million during the quarter, compared to analysts’ expectations of $170.24 million. During the same period in the previous year, the firm posted ($0.03) earnings per share. The company’s revenue was up 40.9% on a year-over-year basis. As a group, research analysts expect that Flywire Corporation will post 0.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Phillip John Riese sold 5,000 shares of Flywire stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $15.43, for a total value of $77,150.00. Following the completion of the sale, the director directly owned 234,493 shares of the company’s stock, valued at approximately $3,618,226.99. The trade was a 2.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Peter Butterfield sold 6,188 shares of Flywire stock in a transaction on Friday, June 5th. The shares were sold at an average price of $14.40, for a total value of $89,107.20. Following the completion of the sale, the general counsel directly owned 658,680 shares of the company’s stock, valued at $9,484,992. The trade was a 0.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 295,670 shares of company stock valued at $4,950,820. Insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Flywire

A number of institutional investors have recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Flywire by 3.4% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 24,086 shares of the company’s stock valued at $326,000 after purchasing an additional 800 shares during the period. Royal Bank of Canada boosted its holdings in Flywire by 13.6% in the fourth quarter. Royal Bank of Canada now owns 9,025 shares of the company’s stock valued at $128,000 after purchasing an additional 1,081 shares during the period. Essential Partners LLC boosted its holdings 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 purchasing an additional 1,571 shares during the period. Global Retirement Partners LLC purchased a new position in Flywire in the fourth quarter valued at $32,000. Finally, Daiwa Securities Group Inc. boosted its holdings in Flywire by 78.4% in the second quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company’s stock valued at $66,000 after purchasing an additional 2,497 shares during the period. 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.