Flywire (NASDAQ:FLYW) Stock Price Up 5.4% - Here's Why

Flywire Co. (NASDAQ:FLYW - Get Free Report) shares rose 5.4% on Wednesday . The stock traded as high as $10.85 and last traded at $10.95. Approximately 314,060 shares traded hands during trading, a decline of 83% from the average daily volume of 1,822,527 shares. The stock had previously closed at $10.38.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. B. Riley reissued a "buy" rating and set a $17.00 target price (down from $29.00) on shares of Flywire in a research note on Friday, May 2nd. Wolfe Research reissued a "peer perform" rating on shares of Flywire in a research note on Wednesday, April 23rd. Royal Bank of Canada cut their target price on shares of Flywire from $20.00 to $17.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Morgan Stanley cut their target price on shares of Flywire from $21.00 to $15.00 and set an "equal weight" rating on the stock 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 note on Wednesday, February 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $15.15.

Flywire Stock Down 0.8%

The firm has a market cap of $1.30 billion, a P/E ratio of 71.33, a price-to-earnings-growth ratio of 1.41 and a beta of 1.27. The firm's 50-day simple moving average is $10.04 and its 200 day simple moving average is $14.48.

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

Insider Activity

In other news, Director Edwin J. Santos sold 5,000 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $10.50, for a total value of $52,500.00. Following the sale, the director now owns 16,990 shares of the company's stock, valued at $178,395. The trade was a 22.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 4.40% of the company's stock.

Institutional Trading of Flywire

Several hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers raised its position in shares of Flywire by 2.3% in the first quarter. Rhumbline Advisers now owns 169,553 shares of the company's stock valued at $1,611,000 after purchasing an additional 3,732 shares during the period. Strs Ohio bought a new stake in shares of Flywire in the first quarter valued at approximately $620,000. Mendon Capital Advisors Corp bought a new stake in Flywire during the 1st quarter worth approximately $919,000. Caxton Associates LLP bought a new stake in Flywire during the 1st quarter worth approximately $393,000. Finally, Goldman Sachs Group Inc. increased its holdings in Flywire by 14.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,241,226 shares of the company's stock worth $11,792,000 after acquiring an additional 159,239 shares during the period. 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.