Flywire (NASDAQ:FLYW) Hits New 12-Month High - What's Next?

Flywire Corporation (NASDAQ:FLYW - Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $19.73 and last traded at $19.42, with a volume of 1275248 shares changing hands. The stock had previously closed at $19.54.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FLYW shares. Seaport Research Partners reissued a "buy" rating and issued a $22.00 target price on shares of Flywire in a research report on Monday, August 17th. The Goldman Sachs Group reissued a "neutral" rating and issued a $22.00 price target on shares of Flywire in a research note on Wednesday, August 5th. UBS Group increased their price objective on Flywire from $18.00 to $19.00 and gave the company a "neutral" rating in a report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft raised Flywire to an "outperform" rating in a report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. upgraded shares of Flywire from an "underweight" rating to a "neutral" rating and lifted their price target for the stock from $14.00 to $16.00 in a research note on Thursday, May 21st. Eight research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $19.54.

Flywire Stock Performance

The firm's fifty day moving average is $17.48 and its 200 day moving average is $14.81. The firm has a market cap of $2.36 billion, a P/E ratio of 74.70, a P/E/G ratio of 1.25 and a beta of 1.34.

Flywire (NASDAQ:FLYW - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.05). Flywire had a net margin of 4.77% and a return on equity of 4.08%. The company had revenue of $163.80 million during the quarter, compared to the consensus estimate of $156.47 million. During the same quarter last year, the firm posted ($0.10) earnings per share. The company's quarterly revenue was up 27.2% on a year-over-year basis. As a group, equities research analysts forecast that Flywire Corporation will post 0.4 EPS for the current year.

Insiders Place Their Bets

In other Flywire news, major shareholder Voss Capital, Lp sold 25,000 shares of the business's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $18.86, for a total transaction of $471,500.00. Following the completion of the sale, the insider owned 11,500,000 shares in the company, valued at approximately $216,890,000. The trade was a 0.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael Massaro sold 50,000 shares of Flywire stock in a transaction on Monday, June 15th. The stock was sold at an average price of $15.26, for a total transaction of $763,000.00. Following the transaction, the chief executive officer directly owned 2,678,051 shares in the company, valued at $40,867,058.26. This represents a 1.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 409,389 shares of company stock valued at $6,888,120 over the last ninety days. 5.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Flywire

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System boosted its stake in Flywire by 1,334.6% during the second quarter. California State Teachers Retirement System now owns 2,103,094 shares of the company's stock valued at $36,951,000 after buying an additional 1,956,492 shares during the period. Nykredit A S bought a new position in Flywire in the 2nd quarter worth about $29,000. Ancora Advisors LLC purchased a new stake in shares of Flywire in the 2nd quarter valued at about $176,000. Wellington Management Group LLP raised its holdings in shares of Flywire by 1.2% in the 2nd quarter. Wellington Management Group LLP now owns 5,340,579 shares of the company's stock valued at $93,834,000 after acquiring an additional 64,998 shares in the last quarter. Finally, Globeflex Capital L P bought a new stake in shares of Flywire during the 2nd quarter valued at about $247,000. 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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