Flywire (NASDAQ:FLYW) Sees Large Volume Increase - Here's What Happened

Shares of Flywire Co. (NASDAQ:FLYW - Get Free Report) saw unusually-high trading volume on Thursday . Approximately 3,156,284 shares traded hands during mid-day trading, an increase of 108% from the previous session's volume of 1,516,164 shares.The stock last traded at $18.46 and had previously closed at $19.16.

Analysts Set New Price Targets

FLYW has been the topic of several research reports. B. Riley reaffirmed a "buy" rating and issued a $30.00 price objective on shares of Flywire in a research report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Flywire from $23.00 to $26.00 and gave the company a "buy" rating in a research report on Monday, December 2nd. The Goldman Sachs Group boosted their price objective on shares of Flywire from $22.00 to $27.00 and gave the company a "buy" rating in a research report on Monday, December 2nd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $25.00 price objective on shares of Flywire in a research report on Thursday, January 9th. Finally, Raymond James boosted their price target on shares of Flywire from $23.00 to $27.00 and gave the stock a "strong-buy" rating in a research report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $25.36.

Flywire Stock Performance

The stock's fifty day moving average price is $20.82 and its two-hundred day moving average price is $18.73. The company has a market cap of $2.29 billion, a P/E ratio of 122.93, a P/E/G ratio of 1.43 and a beta of 1.10.

Flywire (NASDAQ:FLYW - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.16. The company had revenue of $156.82 million during the quarter, compared to the consensus estimate of $146.44 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. During the same quarter in the prior year, the firm posted $0.08 EPS. On average, equities research analysts forecast that Flywire Co. will post 0.14 EPS for the current year.

Hedge Funds Weigh In On Flywire

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC lifted its stake in Flywire by 3.6% in the 3rd quarter. FMR LLC now owns 9,408,098 shares of the company's stock valued at $154,199,000 after purchasing an additional 326,120 shares during the last quarter. Westfield Capital Management Co. LP lifted 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. State Street Corp raised its stake in shares of Flywire by 5.2% during the third quarter. State Street Corp now owns 2,930,906 shares of the company's stock valued at $48,038,000 after acquiring an additional 145,894 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Flywire by 0.6% during the third quarter. Geode Capital Management LLC now owns 2,799,486 shares of the company's stock valued at $45,892,000 after acquiring an additional 17,062 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in shares of Flywire by 5.3% during the third quarter. Jennison Associates LLC now owns 2,226,750 shares of the company's stock valued at $36,496,000 after acquiring an additional 112,218 shares during the last quarter. 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.

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