Flywire (NASDAQ:FLYW) Hits New 52-Week High - Time to Buy?

Key Points

• Flywire shares reached a new 52-week high, trading as high as $19.79 and recently at $19.69. The stock has a $2.40 billion market capitalization and trades at a high P/E ratio of 75.73.
• Analyst sentiment is mixed: seven analysts rate Flywire a Buy and eight rate it a Hold, producing an overall “Hold” consensus and an average price target of $20.46. Morgan Stanley recently raised its target to $24 while maintaining an Overweight rating.
• Flywire’s latest revenue rose 27.2% year over year to $163.8 million, exceeding estimates, but quarterly EPS of negative $0.07 missed expectations. Insiders have sold about $11.2 million of stock over the past 90 days.

Flywire Corporation (NASDAQ:FLYW - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Friday. The stock traded as high as $19.79 and last traded at $19.69, with a volume of 1,809,111 shares traded. The stock had previously closed at $19.29.

Analyst Upgrades and Downgrades

FLYW has been the subject of a number of research analyst reports. BTIG Research reiterated a "buy" rating on shares of Flywire in a report on Thursday, September 10th. Morgan Stanley upped their price target on shares of Flywire from $22.00 to $24.00 and gave the company an "overweight" rating in a research report on Wednesday. Seaport Research Partners reissued a "buy" rating and issued a $22.00 price objective on shares of Flywire in a research report on Monday, August 17th. Stephens assumed coverage on shares of Flywire in a report on Friday, October 16th. They issued an "equal weight" rating and a $20.00 price objective for the company. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $22.00 price target on shares of Flywire in a research report on Wednesday, August 5th. Seven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, Flywire presently has an average rating of "Hold" and an average price target of $20.46.

Flywire Stock Performance

The firm's 50-day moving average is $18.28 and its two-hundred day moving average is $15.50. The stock has a market cap of $2.40 billion, a P/E ratio of 75.73, a PEG ratio of 1.21 and a beta of 1.35.

Flywire (NASDAQ:FLYW - Get Free Report) last issued its quarterly earnings data 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 return on equity of 4.08% and a net margin of 4.77%. The company had revenue of $163.80 million for the quarter, compared to the consensus estimate of $156.47 million. During the same period in the prior year, the company earned ($0.10) EPS. The firm's revenue was up 27.2% on a year-over-year basis. As a group, research analysts forecast that Flywire Corporation will post 0.40 EPS for the current year.

Insider Buying and Selling

In related news, General Counsel Peter Butterfield sold 12,156 shares of Flywire stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $17.99, for a total transaction of $218,686.44. Following the sale, the general counsel directly owned 601,022 shares in the company, valued at approximately $10,812,385.78. This trade represents a 1.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Voss Capital, Lp sold 172,973 shares of the firm's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $19.19, for a total transaction of $3,319,351.87. Following the sale, the insider owned 369,168 shares of the company's stock, valued at approximately $7,084,333.92. The trade was a 31.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 592,618 shares of company stock worth $11,230,341 in the last ninety days. Corporate insiders own 5.00% of the company's stock.

Hedge Funds Weigh In On Flywire

Institutional investors have recently made changes to their positions in the stock. Essential Partners LLC increased its holdings in shares of Flywire by 219.1% in the 1st quarter. Essential Partners LLC now owns 2,288 shares of the company's stock worth $27,000 after purchasing an additional 1,571 shares in the last quarter. Nykredit A S purchased a new stake in Flywire in the second quarter worth about $29,000. KBC Group NV acquired a new stake in Flywire in the first quarter valued at approximately $38,000. Leonteq Securities AG lifted its holdings in shares of Flywire by 267.6% during the first quarter. Leonteq Securities AG now owns 3,540 shares of the company's stock worth $41,000 after purchasing an additional 2,577 shares during the period. Finally, IFP Advisors Inc boosted its stake in shares of Flywire by 168.7% during the 3rd quarter. IFP Advisors Inc now owns 2,483 shares of the company's stock worth $43,000 after acquiring an additional 1,559 shares in the last quarter. Institutional investors own 95.90% of the company's stock.

About Flywire

Flywire Corp. NASDAQ: FLYW is a global payments and software company that helps organizations receive and manage payments from customers and clients in multiple countries and currencies. Its platform is designed to simplify complex, cross-border transactions while providing payment tracking, reconciliation and related accounts-receivable capabilities.

The company serves several major verticals, including education, healthcare, travel and business-to-business payments. Its products and services include international and domestic payment processing, digital billing and invoicing, payment plans, embedded payment solutions and tools that help organizations automate reconciliation and improve the payment experience.

Flywire was founded in 2009 as peerTransfer and is headquartered in Boston, Massachusetts.

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