Flywire (NASDAQ:FLYW) Trading 4.1% Higher - Here's What Happened

Flywire Co. (NASDAQ:FLYW - Get Free Report)'s stock price rose 4.1% during mid-day trading on Friday . The company traded as high as $11.00 and last traded at $10.77. Approximately 554,052 shares traded hands during trading, a decline of 69% from the average daily volume of 1,775,802 shares. The stock had previously closed at $10.34.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on FLYW shares. Stephens cut shares of Flywire from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $26.00 to $15.00 in a report on Wednesday, February 26th. Royal Bank of Canada lowered their price target on shares of Flywire from $20.00 to $17.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. The Goldman Sachs Group boosted their price target on shares of Flywire from $10.00 to $12.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. restated an "underweight" rating and set a $9.00 price target (down from $16.00) on shares of Flywire in a report on Monday, April 14th. Finally, Morgan Stanley lowered their price target on shares of Flywire from $21.00 to $15.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $15.42.

Flywire Price Performance

The stock has a market capitalization of $1.31 billion, a P/E ratio of 72.00, a PEG ratio of 1.41 and a beta of 1.22. The stock's fifty day moving average is $9.84 and its 200-day moving average is $15.27.

Flywire (NASDAQ:FLYW - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.01 by $0.02. The firm had revenue of $128.70 million during the quarter, compared to analysts' expectations of $124.18 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. Flywire's revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.05) earnings per share. On average, research analysts expect that Flywire Co. will post 0.14 EPS for the current year.

Insider Buying and Selling at Flywire

In other Flywire 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 transaction of $55,671.84. Following the completion of the sale, the general counsel now directly owns 247,561 shares in the company, valued at $2,495,414.88. This represents a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.90% of the company's stock.

Institutional Investors Weigh In On Flywire

A number of hedge funds have recently bought and sold shares of FLYW. Raymond James Financial Inc. bought a new stake in Flywire during the fourth quarter valued at about $35,579,000. Wellington Management Group LLP acquired a new position in shares of Flywire during the first quarter valued at about $15,782,000. Voss Capital LP acquired a new position in shares of Flywire during the fourth quarter valued at about $30,621,000. Federated Hermes Inc. acquired a new position in shares of Flywire during the first quarter valued at about $11,733,000. Finally, Teacher Retirement System of Texas acquired a new position in shares of Flywire during the fourth quarter valued at about $24,363,000. 95.90% of the stock is currently owned by institutional investors.

Flywire Company Profile

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.