Flywire (NASDAQ:FLYW) Given "Underweight" Rating at JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their underweight rating on shares of Flywire (NASDAQ:FLYW - Free Report) in a report released on Monday, MarketBeat reports. JPMorgan Chase & Co. currently has a $9.00 price target on the stock, down from their prior price target of $16.00.

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

Flywire Trading Up 0.6 %

Shares of Flywire stock traded up $0.05 during trading hours on Monday, hitting $8.88. 2,281,740 shares of the company were exchanged, compared to its average volume of 1,685,039. The business has a 50-day moving average of $11.81 and a 200-day moving average of $16.91. Flywire has a 1 year low of $8.20 and a 1 year high of $23.40. The stock 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 posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.11). Flywire had a net margin of 4.23% and a return on equity of 2.49%. The business had revenue of $112.80 million during the quarter, compared to analyst estimates of $118.85 million. As a group, research analysts anticipate that Flywire will post 0.14 earnings per share for the current fiscal year.

Insider Transactions at Flywire

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

Hedge Funds Weigh In On Flywire

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC grew its position in Flywire by 571.3% in the first quarter. Janney Montgomery Scott LLC now owns 77,708 shares of the company's stock worth $738,000 after acquiring an additional 66,133 shares in the last quarter. ABS Direct Equity Fund LLC bought a new position in Flywire during the first quarter valued at about $950,000. SG Americas Securities LLC lifted its position in shares of Flywire by 6.2% in the first quarter. SG Americas Securities LLC now owns 42,154 shares of the company's stock worth $400,000 after buying an additional 2,445 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Flywire by 2.3% during the 1st quarter. Rhumbline Advisers now owns 169,553 shares of the company's stock worth $1,611,000 after acquiring an additional 3,732 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Flywire by 23,876.5% during the 1st quarter. GAMMA Investing LLC now owns 4,076 shares of the company's stock valued at $429,000 after acquiring an additional 4,059 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.