Flywire (NASDAQ:FLYW) Shares Gap Up Following Analyst Upgrade

Flywire Co. (NASDAQ:FLYW) shares gapped up before the market opened on Friday after Raymond James raised their price target on the stock from $23.00 to $27.00. The stock had previously closed at $18.30, but opened at $20.59. Raymond James currently has a strong-buy rating on the stock. Flywire shares last traded at $21.24, with a volume of 339,666 shares.

Several other equities research analysts also recently weighed in on the company. B. Riley restated a “buy” rating and set a $30.00 price target on shares of Flywire in a report on Wednesday, October 2nd. Royal Bank of Canada dropped their price objective on Flywire from $34.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Wells Fargo & Company cut Flywire from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $20.00 to $18.00 in a research report on Friday, October 11th. BTIG Research decreased their target price on Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Flywire from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.50.

Insiders Place Their Bets

In other Flywire news, CEO Michael Massaro sold 8,629 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction of $155,667.16. Following the completion of the sale, the chief executive officer now directly owns 1,739,351 shares of the company’s stock, valued at approximately $31,377,892.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Michael Massaro sold 8,629 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $155,667.16. Following the completion of the sale, the chief executive officer now directly owns 1,739,351 shares of the company’s stock, valued at $31,377,892.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Peter Butterfield sold 1,769 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $31,912.76. Following the completion of the sale, the general counsel now directly owns 273,517 shares of the company’s stock, valued at $4,934,246.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,966 shares of company stock valued at $480,143. 3.90% of the stock is owned by company insiders.

Institutional Trading of Flywire

Several hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. lifted its holdings in shares of Flywire by 15.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock valued at $66,000 after buying an additional 539 shares during the period. Oppenheimer Asset Management Inc. increased its stake in Flywire by 3.7% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 19,884 shares of the company’s stock valued at $493,000 after purchasing an additional 702 shares in the last quarter. Arizona State Retirement System increased its stake in Flywire by 3.1% in the 2nd quarter. Arizona State Retirement System now owns 30,475 shares of the company’s stock valued at $499,000 after purchasing an additional 908 shares in the last quarter. Truist Financial Corp increased its stake in Flywire by 6.2% in the 2nd quarter. Truist Financial Corp now owns 19,434 shares of the company’s stock valued at $319,000 after purchasing an additional 1,128 shares in the last quarter. Finally, Ascent Group LLC increased its stake in Flywire by 10.1% in the 1st quarter. Ascent Group LLC now owns 14,165 shares of the company’s stock valued at $351,000 after purchasing an additional 1,300 shares in the last quarter. 95.90% of the stock is owned by institutional investors and hedge funds.

Flywire Trading Up 14.7 %

The stock has a market capitalization of $2.63 billion, a PE ratio of -299.86, a P/E/G ratio of 7.70 and a beta of 0.95. The firm has a 50 day moving average of $17.18 and a two-hundred day moving average of $17.45.

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.