Flywire (NASDAQ:FLYW) Reaches New 12-Month Low - Here's Why

Shares of Flywire Co. (NASDAQ:FLYW - Get Free Report) reached a new 52-week low during trading on Monday . The stock traded as low as $8.61 and last traded at $8.99, with a volume of 415589 shares changing hands. The stock had previously closed at $9.10.

Analyst Ratings Changes

A number of analysts have recently weighed in on FLYW shares. The Goldman Sachs Group lowered their price target on shares of Flywire from $15.00 to $11.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft lowered shares of Flywire from a "buy" rating to a "hold" rating and cut their price target for the stock from $26.00 to $16.00 in a report on Wednesday, February 26th. Morgan Stanley decreased their price objective on Flywire from $21.00 to $15.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Royal Bank of Canada lowered their price objective on Flywire from $25.00 to $20.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company reduced their target price on Flywire from $20.00 to $16.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $17.92.

Flywire Stock Performance

The company has a market cap of $1.05 billion, a price-to-earnings ratio of 56.87, a P/E/G ratio of 1.41 and a beta of 1.22. The company's fifty day moving average is $12.74 and its two-hundred day moving average is $17.13.

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Flywire (NASDAQ:FLYW - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.11). The business had revenue of $112.80 million during the quarter, compared to analyst estimates of $118.85 million. Flywire had a return on equity of 2.49% and a net margin of 4.23%. On average, sell-side analysts anticipate that Flywire Co. will post 0.14 EPS for the current fiscal year.

Insider Activity

In other news, Director Gretchen Howard purchased 8,889 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average price of $10.94 per share, for a total transaction of $97,245.66. Following the completion of the transaction, the director now owns 30,770 shares in the company, valued at $336,623.80. This represents a 40.62 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Peter Butterfield sold 5,523 shares of Flywire stock in a transaction on Monday, March 10th. The shares were sold at an average price of $10.08, for a total transaction of $55,671.84. Following the completion of the transaction, the general counsel now directly owns 247,561 shares of the company's stock, valued at $2,495,414.88. The trade was a 2.18 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.90% of the company's stock.

Hedge Funds Weigh In On Flywire

Hedge funds have recently bought and sold shares of the business. Rhumbline Advisers lifted its position in shares of Flywire by 2.3% during the 1st quarter. Rhumbline Advisers now owns 169,553 shares of the company's stock valued at $1,611,000 after buying an additional 3,732 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Flywire by 23,876.5% during the first quarter. GAMMA Investing LLC now owns 4,076 shares of the company's stock valued at $429,000 after purchasing an additional 4,059 shares in the last quarter. Palogic Value Management L.P. grew its position in shares of Flywire by 5.6% in the fourth quarter. Palogic Value Management L.P. now owns 190,000 shares of the company's stock valued at $3,918,000 after purchasing an additional 10,000 shares during the period. Ascent Group LLC increased its stake in shares of Flywire by 19.7% during the fourth quarter. Ascent Group LLC now owns 33,687 shares of the company's stock worth $695,000 after purchasing an additional 5,545 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in shares of Flywire by 72.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 142,797 shares of the company's stock worth $2,944,000 after purchasing an additional 60,210 shares during the last quarter. Hedge funds and other institutional investors own 95.90% of the company's stock.

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.