Flywire (NASDAQ:FLYW) Trading 10.5% Higher

Posted by on Jun 21st, 2022

Flywire Co. (NASDAQ:FLYW – Get Rating) shares traded up 10.5% during mid-day trading on Tuesday . The company traded as high as $17.73 and last traded at $17.73. 13,916 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 997,161 shares. The stock had previously closed at $16.05.

A number of equities analysts recently issued reports on the company. Royal Bank of Canada lowered their price target on Flywire from $51.00 to $44.00 and set an “outperform” rating for the company in a report on Thursday, March 3rd. Raymond James lowered their price target on Flywire from $39.00 to $33.00 in a report on Wednesday, May 11th. Stephens assumed coverage on Flywire in a report on Thursday, June 9th. They issued an “overweight” rating and a $24.00 price target for the company. The Goldman Sachs Group lowered their price target on Flywire from $44.00 to $37.00 and set a “neutral” rating for the company in a report on Friday, April 8th. Finally, Sumitomo Mitsui Financial Group assumed coverage on Flywire in a report on Wednesday, April 13th. They issued an “outperform” rating and a $40.00 price objective for the company. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $39.50.

The company has a debt-to-equity ratio of 0.05, a current ratio of 4.53 and a quick ratio of 4.53. The company has a 50 day moving average price of $22.88 and a 200 day moving average price of $27.83. The firm has a market cap of $1.85 billion and a PE ratio of -36.42.

Flywire (NASDAQ:FLYW – Get Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.07). Flywire had a negative return on equity of 4.11% and a negative net margin of 13.72%. The company had revenue of $64.55 million for the quarter, compared to analysts’ expectations of $56.83 million. During the same quarter last year, the company earned ($0.41) EPS. Flywire’s revenue for the quarter was up 43.5% compared to the same quarter last year. On average, equities analysts anticipate that Flywire Co. will post -0.28 earnings per share for the current fiscal year.

In other Flywire news, COO Rob Orgel sold 20,000 shares of the stock in a transaction on Friday, April 1st. The stock was sold at an average price of $31.13, for a total value of $622,600.00. Following the completion of the transaction, the chief operating officer now owns 126,019 shares in the company, valued at $3,922,971.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Phillip John Riese sold 5,000 shares of the stock in a transaction on Thursday, March 24th. The stock was sold at an average price of $27.66, for a total value of $138,300.00. The disclosure for this sale can be found here. Insiders have sold 2,210,359 shares of company stock valued at $44,058,082 in the last 90 days. Company insiders own 37.50% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in FLYW. Citigroup Inc. acquired a new stake in Flywire in the third quarter valued at $60,000. FourThought Financial LLC grew its holdings in Flywire by 123.3% in the first quarter. FourThought Financial LLC now owns 2,563 shares of the company’s stock valued at $78,000 after purchasing an additional 1,415 shares during the last quarter. UBS Group AG grew its holdings in Flywire by 433.1% in the first quarter. UBS Group AG now owns 3,300 shares of the company’s stock valued at $101,000 after purchasing an additional 2,681 shares during the last quarter. Metropolitan Life Insurance Co NY acquired a new stake in Flywire in the third quarter valued at $156,000. Finally, Parametric Portfolio Associates LLC acquired a new stake in Flywire in the fourth quarter valued at $222,000. Hedge funds and other institutional investors own 76.06% of the company’s stock.

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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