Flywire (NASDAQ:FLYW) Reaches New 12-Month Low – What’s Next?

Shares of Flywire Co. (NASDAQ:FLYW) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $8.61 and last traded at $8.99, with a volume of 415589 shares. The stock had previously closed at $9.10.

Wall Street Analyst Weigh In

Several research firms have weighed in on FLYW. The Goldman Sachs Group cut their price objective on Flywire from $15.00 to $11.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Morgan Stanley reduced their price target on Flywire from $21.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Seaport Res Ptn cut shares of Flywire from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. BTIG Research lowered shares of Flywire from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 26th. Finally, Royal Bank of Canada dropped their price objective on shares of Flywire from $25.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $17.92.

Flywire Stock Down 0.9 %

The stock has a market cap of $1.11 billion, a PE ratio of 60.13, a PEG ratio of 1.41 and a beta of 1.22. The stock’s fifty day moving average price is $14.24 and its 200 day moving average price is $17.52.

Flywire (NASDAQ:FLYW) last issued its earnings results on Tuesday, February 25th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.11). Flywire had a net margin of 4.23% and a return on equity of 2.49%. The business had revenue of $112.80 million for the quarter, compared to analysts’ expectations of $118.85 million. On average, equities research analysts expect that Flywire Co. will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Flywire news, General Counsel Peter Butterfield sold 5,523 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $10.08, for a total value of $55,671.84. Following the transaction, the general counsel now owns 247,561 shares of the company’s stock, valued at approximately $2,495,414.88. This represents a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gretchen Howard purchased 8,889 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were purchased at an average price of $10.94 per share, with a total value of $97,245.66. Following the completion of the purchase, the director now owns 30,770 shares in the company, valued at approximately $336,623.80. This trade represents a 40.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Flywire

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new position in shares of Flywire during the 4th quarter valued at about $35,579,000. Voss Capital LP bought a new position in shares of Flywire in the fourth quarter worth approximately $30,621,000. Teacher Retirement System of Texas bought a new stake in shares of Flywire during the 4th quarter valued at $24,363,000. Jennison Associates LLC raised its position in shares of Flywire by 53.0% during the 4th quarter. Jennison Associates LLC now owns 3,406,312 shares of the company’s stock valued at $70,238,000 after purchasing an additional 1,179,562 shares during the period. Finally, Wasatch Advisors LP lifted its stake in shares of Flywire by 62.1% during the 4th quarter. Wasatch Advisors LP now owns 2,741,644 shares of the company’s stock valued at $56,533,000 after buying an additional 1,049,888 shares in the last quarter. Hedge funds and other 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.