Flywire's (FLYW) "Peer Perform" Rating Reiterated at Wolfe Research

Flywire (NASDAQ:FLYW - Get Free Report)'s stock had its "peer perform" rating restated by equities researchers at Wolfe Research in a note issued to investors on Wednesday,Benzinga reports.

Several other brokerages have also recently weighed in on FLYW. Seaport Res Ptn cut Flywire from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft cut Flywire from a "buy" rating to a "hold" rating and reduced their price target for the stock from $26.00 to $16.00 in a report on Wednesday, February 26th. The Goldman Sachs Group decreased their price objective 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. Wells Fargo & Company lowered their price target on shares of Flywire from $20.00 to $16.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 26th. Finally, Citigroup cut their price objective on shares of Flywire from $26.00 to $13.00 and set a "buy" rating for the company in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, Flywire presently has an average rating of "Hold" and a consensus price target of $17.00.

Flywire Stock Performance

NASDAQ:FLYW opened at $8.68 on Wednesday. The firm's 50-day moving average is $11.13 and its 200-day moving average is $16.76. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 57.87, a PEG ratio of 1.41 and a beta of 1.22. Flywire has a 52-week low of $8.20 and a 52-week high of $23.40.

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 the consensus estimate of ($0.01) by ($0.11). Flywire had a return on equity of 2.49% and a net margin of 4.23%. The company had revenue of $112.80 million for the quarter, compared to analyst estimates of $118.85 million. Equities analysts predict that Flywire will post 0.14 EPS for the current year.

Insider Activity

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

Institutional Trading of Flywire

Several hedge funds and other institutional investors have recently modified their holdings of the business. Global Retirement Partners LLC purchased a new stake in Flywire during the 4th quarter worth about $30,000. Arcadia Investment Management Corp MI bought a new position in shares of Flywire during the 4th quarter valued at about $48,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Flywire during the fourth quarter valued at approximately $77,000. KBC Group NV lifted its holdings in shares of Flywire by 64.0% in the 4th quarter. KBC Group NV now owns 4,899 shares of the company's stock worth $101,000 after acquiring an additional 1,911 shares during the last quarter. Finally, Venturi Wealth Management LLC purchased a new stake in shares of Flywire in the 4th quarter valued at $104,000. 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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