Flywire (NASDAQ:FLYW) Sets New 1-Year Low Following Weak Earnings

Flywire Co. (NASDAQ:FLYW - Get Free Report)'s share price reached a new 52-week low on Wednesday following a dissappointing earnings announcement. The stock traded as low as $17.50 and last traded at $17.50, with a volume of 1618 shares traded. The stock had previously closed at $20.54.

The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01). Flywire had a negative net margin of 2.13% and a negative return on equity of 1.35%. The business had revenue of $114.10 million during the quarter, compared to the consensus estimate of $107.81 million. During the same quarter in the previous year, the firm posted ($0.03) EPS. The company's revenue for the quarter was up 20.9% compared to the same quarter last year.

Analyst Ratings Changes

Several equities research analysts have recently commented on FLYW shares. Royal Bank of Canada lowered their target price on Flywire from $41.00 to $34.00 and set an "outperform" rating for the company in a research note on Wednesday. William Blair reissued an "outperform" rating on shares of Flywire in a research note on Wednesday. Deutsche Bank Aktiengesellschaft started coverage on Flywire in a research note on Tuesday, February 6th. They issued a "buy" rating and a $27.00 target price for the company. Truist Financial lifted their target price on Flywire from $30.00 to $39.00 and gave the company a "buy" rating in a research note on Wednesday, February 28th. Finally, JPMorgan Chase & Co. lifted their target price on Flywire from $29.00 to $32.00 and gave the company a "neutral" rating in a research note on Wednesday, February 28th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Flywire presently has an average rating of "Moderate Buy" and an average target price of $32.20.

Insider Activity at Flywire

In other news, Director Phillip John Riese sold 50,000 shares of the company's stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $26.41, for a total transaction of $1,320,500.00. Following the completion of the transaction, the director now directly owns 232,037 shares of the company's stock, valued at $6,128,097.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Phillip John Riese sold 50,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $26.41, for a total transaction of $1,320,500.00. Following the completion of the transaction, the director now directly owns 232,037 shares of the company's stock, valued at $6,128,097.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Massaro sold 13,043 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $24.07, for a total value of $313,945.01. Following the transaction, the chief executive officer now directly owns 1,655,673 shares of the company's stock, valued at $39,852,049.11. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 141,800 shares of company stock valued at $3,743,582. 5.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Flywire by 39.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,788 shares of the company's stock valued at $551,000 after buying an additional 6,669 shares during the last quarter. Northern Trust Corp lifted its position in shares of Flywire by 8.6% in the third quarter. Northern Trust Corp now owns 946,240 shares of the company's stock valued at $30,176,000 after buying an additional 74,534 shares during the last quarter. Comerica Bank acquired a new stake in shares of Flywire in the third quarter valued at approximately $10,987,000. Raymond James Financial Services Advisors Inc. lifted its position in shares of Flywire by 255.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 160,919 shares of the company's stock valued at $3,725,000 after buying an additional 115,691 shares during the last quarter. Finally, Barclays PLC lifted its position in shares of Flywire by 176.0% in the third quarter. Barclays PLC now owns 173,122 shares of the company's stock valued at $5,522,000 after buying an additional 110,391 shares during the last quarter. 95.90% of the stock is owned by institutional investors and hedge funds.

Flywire Price Performance

The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of -188.53, a PEG ratio of 11.18 and a beta of 1.09. The stock has a 50-day moving average price of $23.59 and a 200-day moving average price of $23.17.

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.