Flywire (NASDAQ:FLYW) Trading 4.7% Higher - Here's Why

Flywire Co. (NASDAQ:FLYW - Get Free Report) rose 4.7% during trading on Wednesday . The stock traded as high as $8.94 and last traded at $9.02. Approximately 519,789 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 1,668,630 shares. The stock had previously closed at $8.61.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on FLYW shares. UBS Group cut Flywire from a "buy" rating to a "neutral" rating and cut their price target for the company from $25.00 to $15.00 in a report on Wednesday, February 26th. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $9.00 price target (down previously from $16.00) on shares of Flywire in a research note on Monday, April 14th. Citigroup reduced their price target on shares of Flywire from $26.00 to $13.00 and set a "buy" rating for the company in a report on Monday, March 24th. Deutsche Bank Aktiengesellschaft cut Flywire from a "buy" rating to a "hold" rating and dropped their target price for the stock from $26.00 to $16.00 in a report on Wednesday, February 26th. Finally, Royal Bank of Canada cut their price target on Flywire from $25.00 to $20.00 and set an "outperform" rating for the company in a 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 given a buy rating to the company's stock. According to data from MarketBeat, Flywire presently has an average rating of "Hold" and an average target price of $17.00.

Flywire Stock Down 2.9 %

The company has a market cap of $1.07 billion, a P/E ratio of 57.47, a PEG ratio of 1.41 and a beta of 1.22. The firm has a 50 day moving average of $11.58 and a 200-day moving average of $16.88.

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

Insider Transactions at Flywire

In other Flywire news, Director Gretchen Howard purchased 8,889 shares of the business's 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 completion of the purchase, the director now directly owns 30,770 shares of the company's stock, valued at approximately $336,623.80. This trade represents a 40.62 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Peter Butterfield sold 5,523 shares of the firm's stock in a transaction that occurred on 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 approximately $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 Investors Weigh In On Flywire

Several institutional investors have recently made changes to their positions in FLYW. Global Retirement Partners LLC acquired a new stake in shares of Flywire during the 4th quarter worth about $30,000. Arcadia Investment Management Corp MI acquired a new stake in shares of Flywire in the 4th quarter valued at about $48,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Flywire during the fourth quarter worth $77,000. KBC Group NV grew its stake in Flywire by 64.0% during the 4th quarter. KBC Group NV now owns 4,899 shares of the company's stock worth $101,000 after buying an additional 1,911 shares during the last quarter. Finally, Venturi Wealth Management LLC bought a new stake in Flywire in the 4th quarter valued at about $104,000. 95.90% of the stock is currently owned by hedge funds and other 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.