Flywire Co. (NASDAQ:FLYW) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Shares of Flywire Co. (NASDAQ:FLYW - Get Free Report) have received an average recommendation of "Moderate Buy" from the fifteen brokerages that are covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $24.86.

FLYW has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Flywire from $25.00 to $22.00 and set a "buy" rating on the stock in a research report on Wednesday, August 7th. Raymond James lifted their price target on shares of Flywire from $23.00 to $27.00 and gave the stock a "strong-buy" rating in a research note on Friday, November 8th. Morgan Stanley upped their price objective on shares of Flywire from $20.00 to $21.00 and gave the company an "equal weight" rating in a research note on Monday, November 11th. Citigroup cut their target price on Flywire from $27.00 to $25.00 and set a "buy" rating on the stock in a research report on Wednesday, August 7th. Finally, B. Riley reaffirmed a "buy" rating and set a $30.00 price target on shares of Flywire in a research report on Wednesday, October 2nd.

Flywire Stock Performance

Shares of FLYW traded down $0.01 during midday trading on Friday, hitting $22.92. The company had a trading volume of 1,033,718 shares, compared to its average volume of 1,413,271. Flywire has a 1 year low of $15.19 and a 1 year high of $31.54. The firm has a market capitalization of $2.85 billion, a P/E ratio of 152.87, a P/E/G ratio of 4.33 and a beta of 0.95. The company's 50-day simple moving average is $18.02 and its 200-day simple moving average is $17.58.

Insider Buying and Selling at Flywire

In related news, General Counsel Peter Butterfield sold 1,769 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $31,912.76. Following the completion of the sale, the general counsel now owns 273,517 shares in the company, valued at $4,934,246.68. This trade represents a 0.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO David R. King sold 3,353 shares of the company's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction of $60,488.12. Following the transaction, the chief technology officer now owns 620,184 shares in the company, valued at $11,188,119.36. The trade was a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,966 shares of company stock valued at $480,143. 3.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Flywire

Several institutional investors and hedge funds have recently made changes to their positions in the business. William Blair Investment Management LLC increased its position in Flywire by 125.1% during the second quarter. William Blair Investment Management LLC now owns 11,731,790 shares of the company's stock worth $192,284,000 after buying an additional 6,519,598 shares in the last quarter. Primecap Management Co. CA increased its position in Flywire by 253.3% during the 2nd quarter. Primecap Management Co. CA now owns 1,962,633 shares of the company's stock worth $32,168,000 after purchasing an additional 1,407,180 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in Flywire by 19.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 6,226,912 shares of the company's stock valued at $102,059,000 after purchasing an additional 1,006,516 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Flywire in the 2nd quarter valued at about $12,642,000. Finally, Blair William & Co. IL boosted its stake in shares of Flywire by 33.4% during the 2nd quarter. Blair William & Co. IL now owns 1,810,719 shares of the company's stock worth $29,678,000 after purchasing an additional 453,183 shares during the last quarter. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

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.