Flywire (NASDAQ:FLYW) Shares Gap Down After Analyst Downgrade

Flywire Co. (NASDAQ:FLYWGet Rating)’s stock price gapped down prior to trading on Thursday after Zacks Investment Research downgraded the stock from a hold rating to a strong sell rating. The stock had previously closed at $19.40, but opened at $18.26. Flywire shares last traded at $16.96, with a volume of 10,074 shares trading hands.

Several other analysts have also weighed in on the stock. Royal Bank of Canada lowered their price objective on shares of Flywire from $51.00 to $44.00 and set an “outperform” rating for the company in a research note on Thursday, March 3rd. Sumitomo Mitsui Financial Group initiated coverage on shares of Flywire in a research note on Wednesday, April 13th. They issued an “outperform” rating and a $40.00 price objective for the company. Wells Fargo & Company lowered their price objective on shares of Flywire from $41.00 to $36.00 in a research note on Wednesday. Raymond James lowered their price objective on shares of Flywire from $39.00 to $33.00 in a research note on Wednesday. Finally, The Goldman Sachs Group lowered their price objective on shares of Flywire from $44.00 to $37.00 and set a “neutral” rating for the company in a research note on Friday, April 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $40.83.

In other news, COO Rob Orgel sold 10,000 shares of the company’s stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $30.54, for a total value of $305,400.00. Following the completion of the sale, the chief operating officer now owns 126,019 shares in the company, valued at approximately $3,848,620.26. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Phillip John Riese sold 5,000 shares of the company’s stock in a transaction on Thursday, February 24th. The stock was sold at an average price of $25.52, for a total transaction of $127,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 100,505 shares of company stock worth $2,946,937 over the last ninety days.

Hedge funds and other institutional investors have recently bought and sold shares of the company. FourThought Financial LLC bought a new stake in shares of Flywire in the 3rd quarter worth $54,000. Rockefeller Capital Management L.P. bought a new position in Flywire during the third quarter valued at about $56,000. Citigroup Inc. bought a new position in Flywire during the third quarter valued at about $60,000. Metropolitan Life Insurance Co NY bought a new position in Flywire during the third quarter valued at about $156,000. Finally, Teacher Retirement System of Texas bought a new position in Flywire during the third quarter valued at about $219,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

The company has a market cap of $2.16 billion and a P/E ratio of -42.04. The company’s 50-day moving average is $28.03 and its two-hundred day moving average is $32.34. The company has a quick ratio of 3.78, a current ratio of 3.78 and a debt-to-equity ratio of 0.05.

Flywire (NASDAQ:FLYWGet Rating) last posted its quarterly earnings results on Tuesday, May 10th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.07). The company had revenue of $64.55 million for the quarter, compared to the consensus estimate of $56.83 million. Flywire had a negative net margin of 13.72% and a negative return on equity of 4.10%. Flywire’s quarterly revenue was up 43.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.41) EPS. On average, analysts anticipate that Flywire Co. will post -0.13 EPS for the current fiscal year.

Flywire Company Profile (NASDAQ:FLYW)

Flywire Corporation, together with its subsidiaries, operates as a payment enablement and software company in the United States, Canada, and the United Kingdom, and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay.

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