Flywire (NASDAQ:FLYW) Shares Up 4.7% - Still a Buy?

Flywire Co. (NASDAQ:FLYW - Get Free Report)'s share price shot up 4.7% on Wednesday . The stock traded as high as $8.94 and last traded at $9.02. 519,789 shares traded hands during trading, a decline of 69% from the average session volume of 1,668,630 shares. The stock had previously closed at $8.61.

Analysts Set New Price Targets

Several research firms have recently issued reports on FLYW. Deutsche Bank Aktiengesellschaft cut Flywire from a "buy" rating to a "hold" rating and decreased their price target for the stock from $26.00 to $16.00 in a research note on Wednesday, February 26th. Royal Bank of Canada cut their price target on shares of Flywire from $25.00 to $20.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. Citigroup lowered their price objective on shares of Flywire from $26.00 to $13.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. The Goldman Sachs Group cut their target price on shares of Flywire from $15.00 to $11.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Finally, BTIG Research lowered shares of Flywire from a "buy" rating to a "neutral" rating in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Flywire currently has a consensus rating of "Hold" and an average target price of $17.00.

Flywire Stock Up 0.6 %

The business has a 50-day moving average of $11.58 and a two-hundred day moving average of $16.87. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 59.20, a P/E/G ratio of 1.41 and a beta of 1.22.

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

Insider Transactions at Flywire

In related news, General Counsel Peter Butterfield sold 5,523 shares of Flywire stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $10.08, for a total value 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gretchen Howard acquired 8,889 shares of the stock in a transaction on Thursday, February 27th. The stock was bought at an average price of $10.94 per share, with a total value of $97,245.66. Following the transaction, the director now directly owns 30,770 shares in the company, valued at approximately $336,623.80. This represents a 40.62 % increase in their position. The disclosure for this purchase can be found here. 3.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Flywire

Hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in Flywire during the fourth quarter worth about $35,579,000. Voss Capital LP acquired a new position in shares of Flywire in the fourth quarter valued at approximately $30,621,000. Teacher Retirement System of Texas acquired a new stake in shares of Flywire during the fourth quarter worth $24,363,000. Jennison Associates LLC boosted its stake in Flywire by 53.0% in the 4th quarter. Jennison Associates LLC now owns 3,406,312 shares of the company's stock worth $70,238,000 after purchasing an additional 1,179,562 shares during the period. Finally, Wasatch Advisors LP grew its holdings in shares of Flywire by 62.1% during the fourth quarter. Wasatch Advisors LP now owns 2,741,644 shares of the company's stock worth $56,533,000 after buying an additional 1,049,888 shares in the last quarter. 95.90% of the stock is owned by institutional investors and hedge funds.

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.