Flywire (NASDAQ:FLYW) Stock Jumps 5% - What's Next?

Key Points

• Flywire shares rose 5% in mid-day trading, reaching $22.54, though trading volume was 34% below its average.
• The company beat quarterly estimates, reporting EPS of $0.57 versus $0.31 expected and revenue of $250.3 million versus $233.25 million; revenue grew 25.1% year over year.
• Analysts’ average rating is Hold, with a consensus price target of $22.58. Insiders sold about 654,000 shares worth $12.5 million over the past 90 days.

Flywire Corporation (NASDAQ:FLYW - Get Free Report) was up 5% during mid-day trading on Friday. The stock traded as high as $22.50 and last traded at $22.54. Approximately 1,235,333 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 1,879,610 shares. The stock had previously closed at $21.47.

Analyst Ratings Changes

Several equities analysts have recently issued reports on FLYW shares. B. Riley Financial reaffirmed a "buy" rating and set a $25.00 price target (up from $24.00) on shares of Flywire in a research note on Wednesday, November 4th. JPMorgan Chase & Co. increased their price objective on Flywire from $20.00 to $23.00 and gave the company a "neutral" rating in a report on Wednesday, November 4th. Raymond James Financial reaffirmed an "outperform" rating and set a $24.00 target price on shares of Flywire in a research report on Wednesday, November 4th. Stephens began coverage on Flywire in a research report on Friday, October 16th. They issued an "equal weight" rating and a $20.00 price target on the stock. Finally, Wolfe Research upped their price target on Flywire from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Tuesday, August 25th. Seven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $22.58.

Flywire Trading Up 4.5%

The stock has a market capitalization of $2.73 billion, a P/E ratio of 37.40, a price-to-earnings-growth ratio of 0.89 and a beta of 1.32. The company has a 50-day moving average price of $18.72 and a two-hundred day moving average price of $15.86.

Flywire (NASDAQ:FLYW - Get Free Report) last announced its earnings results on Tuesday, November 3rd. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.31 by $0.26. The company had revenue of $250.30 million for the quarter, compared to analyst estimates of $233.25 million. Flywire had a return on equity of 9.25% and a net margin of 10.34%. The firm's revenue for the quarter was up 25.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.23 EPS. Research analysts forecast that Flywire Corporation will post 0.64 earnings per share for the current year.

Insider Activity at Flywire

In other news, insider Mohit Kansal sold 6,053 shares of the company's stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $20.90, for a total transaction of $126,507.70. Following the transaction, the insider owned 472,271 shares in the company, valued at approximately $9,870,463.90. This represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider David King sold 55,325 shares of the stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $20.05, for a total transaction of $1,109,266.25. Following the transaction, the insider directly owned 147,079 shares in the company, valued at $2,948,933.95. This trade represents a 27.33% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 653,996 shares of company stock valued at $12,466,115. 5.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Flywire

A number of institutional investors have recently modified their holdings of the company. Essential Partners LLC grew its position in Flywire by 219.1% in the 1st quarter. Essential Partners LLC now owns 2,288 shares of the company's stock valued at $27,000 after purchasing an additional 1,571 shares during the period. Nykredit A S bought a new position in shares of Flywire in the second quarter valued at $29,000. KBC Group NV bought a new position in shares of Flywire in the first quarter valued at $38,000. IFP Advisors Inc grew its holdings in shares of Flywire by 168.7% during the third quarter. IFP Advisors Inc now owns 2,483 shares of the company's stock valued at $43,000 after buying an additional 1,559 shares during the last quarter. Finally, Sterling Capital Management LLC grew its holdings in shares of Flywire by 592.3% during the third quarter. Sterling Capital Management LLC now owns 3,884 shares of the company's stock valued at $68,000 after buying an additional 3,323 shares during the last quarter. 95.90% of the stock is owned by institutional investors and hedge funds.

About Flywire

Flywire Corporation is a global payments and software company that helps businesses and institutions manage domestic and cross-border payments. Its platform connects payment processing with organizations' existing systems and supports multiple currencies and local payment methods. The company serves customers in sectors including education, healthcare, travel and business-to-business services. Its offerings help organizations collect payments from customers and manage related payment workflows, including international transactions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.