Flywire Co. (NASDAQ:FLYW) Receives Average Recommendation of “Moderate Buy” from Brokerages

Flywire Co. (NASDAQ:FLYW) has been given an average recommendation of “Moderate Buy” by the fifteen analysts that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $24.86.

FLYW has been the subject of several research analyst reports. Royal Bank of Canada lowered their price objective on Flywire from $34.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Wells Fargo & Company lowered Flywire from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $20.00 to $18.00 in a research report on Friday, October 11th. Morgan Stanley lifted their price objective on Flywire from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Raymond James lifted their price objective on Flywire from $23.00 to $27.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 8th. Finally, BTIG Research lowered their price objective on Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th.

Insiders Place Their Bets

In other news, CTO David R. King sold 3,353 shares of the business’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 $60,488.12. Following the transaction, the chief technology officer now owns 620,184 shares in the company, valued at $11,188,119.36. The trade was a 0.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Peter Butterfield sold 1,769 shares of the business’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 $31,912.76. Following the completion of the transaction, the general counsel now owns 273,517 shares in the company, valued at $4,934,246.68. The trade was a 0.64 % decrease in their position. 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. Corporate insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Flywire

A number of hedge funds and other institutional investors have recently modified their holdings of FLYW. Quarry LP purchased a new position in Flywire in the second quarter valued at approximately $26,000. Headlands Technologies LLC lifted its stake in Flywire by 82.3% in the second quarter. Headlands Technologies LLC now owns 3,343 shares of the company’s stock valued at $55,000 after purchasing an additional 1,509 shares during the last quarter. Daiwa Securities Group Inc. purchased a new position in Flywire in the second quarter valued at approximately $64,000. Advisors Asset Management Inc. lifted its stake in Flywire by 15.4% in the third quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock valued at $66,000 after purchasing an additional 539 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Flywire during the 3rd quarter valued at $149,000. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Flywire Trading Up 2.5 %

Shares of FLYW opened at $22.93 on Friday. The company has a market capitalization of $2.85 billion, a PE ratio of 152.87, a PEG ratio of 4.33 and a beta of 0.95. Flywire has a 12 month low of $15.19 and a 12 month high of $31.54. The stock’s 50-day moving average price is $18.02 and its two-hundred day moving average price is $17.58.

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.