Flywire (NASDAQ:FLYW) Cut to Hold at Wall Street Zen

Key Points

• Flywire was downgraded by Wall Street Zen from “buy” to “hold”, though the broader analyst view still leans positive with an average “Moderate Buy” rating and a consensus price target of $18.17.
• The company beat earnings expectations in its latest quarterly report, posting EPS of $0.10 versus the expected $0.03 and revenue of $184 million, up 40.9% year over year.
• Flywire shares were down 1.8% to $16.06, while recent insider activity showed executives selling stock and institutional ownership remaining high at 95.9%.

Flywire (NASDAQ:FLYW - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

FLYW has been the topic of a number of other research reports. The Goldman Sachs Group reiterated a "neutral" rating and set a $17.00 price target on shares of Flywire in a report on Wednesday, May 6th. Raymond James Financial reiterated an "outperform" rating and set a $21.00 price target on shares of Flywire in a report on Wednesday, May 6th. Truist Financial cut their price target on shares of Flywire from $17.00 to $16.00 and set a "buy" rating on the stock in a report on Tuesday, March 3rd. Royal Bank Of Canada lifted their price target on shares of Flywire from $18.00 to $20.00 and gave the stock an "outperform" rating in a report on Wednesday, February 25th. Finally, Stephens upgraded shares of Flywire from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $17.00 to $19.00 in a report on Friday, January 16th. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $18.17.

Flywire Stock Down 1.8%

Flywire stock opened at $16.06 on Friday. The company's 50-day moving average price is $13.30 and its two-hundred day moving average price is $13.31. Flywire has a twelve month low of $9.97 and a twelve month high of $18.05. The stock has a market cap of $1.98 billion, a P/E ratio of 69.83, a P/E/G ratio of 1.17 and a beta of 1.30.

Flywire (NASDAQ:FLYW - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.07. Flywire had a net margin of 4.45% and a return on equity of 3.78%. The firm had revenue of $184.00 million for the quarter, compared to analyst estimates of $170.24 million. During the same quarter in the prior year, the business posted ($0.03) EPS. The business's revenue was up 40.9% compared to the same quarter last year. Equities analysts anticipate that Flywire will post 0.4 earnings per share for the current fiscal year.

Insider Activity

In related news, General Counsel Peter Butterfield sold 9,009 shares of Flywire stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $13.05, for a total transaction of $117,567.45. Following the completion of the transaction, the general counsel owned 532,962 shares of the company's stock, valued at $6,955,154.10. This trade represents a 1.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Massaro sold 50,000 shares of Flywire stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $16.39, for a total transaction of $819,500.00. Following the transaction, the chief executive officer directly owned 2,766,035 shares of the company's stock, valued at $45,335,313.65. This represents a 1.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 114,511 shares of company stock worth $1,859,470 over the last ninety days. Corporate insiders own 4.40% of the company's stock.

Hedge Funds Weigh In On Flywire

A number of hedge funds have recently bought and sold shares of FLYW. North Reef Capital Management LP increased its stake in Flywire by 83.3% in the first quarter. North Reef Capital Management LP now owns 1,100,000 shares of the company's stock valued at $12,804,000 after purchasing an additional 499,999 shares in the last quarter. Renaissance Technologies LLC increased its stake in Flywire by 110.8% in the first quarter. Renaissance Technologies LLC now owns 887,200 shares of the company's stock valued at $10,327,000 after purchasing an additional 466,300 shares in the last quarter. State of Wyoming increased its stake in Flywire by 72.3% in the first quarter. State of Wyoming now owns 98,409 shares of the company's stock valued at $1,145,000 after purchasing an additional 41,292 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Flywire by 18.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,886,865 shares of the company's stock valued at $21,962,000 after purchasing an additional 295,960 shares in the last quarter. Finally, KBC Group NV bought a new stake in Flywire in the first quarter valued at $38,000. Institutional investors own 95.90% of the company's stock.

Flywire Company Profile

Flywire Corp NASDAQ: FLYW is a global payments enablement and software company that specializes in facilitating complex cross-border transactions. Its cloud-based platform streamlines receivables and payer workflows across key verticals including education, healthcare, travel and hospitality, and commercial services. Flywire's technology integrates with institutional systems to automate payment posting, reconciliation and reporting, aiming to improve the payer experience and accelerate cash flow for its clients.

Founded in 2009 by entrepreneur Iker Marcaide as peerTransfer, the company rebranded as Flywire in 2015.

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