Flywire (NASDAQ:FLYW) Downgraded by BTIG Research to “Neutral”

Flywire (NASDAQ:FLYW) was downgraded by stock analysts at BTIG Research from a “buy” rating to a “neutral” rating in a report issued on Wednesday,Briefing.com Automated Import reports.

A number of other brokerages have also commented on FLYW. Raymond James boosted their price objective on shares of Flywire from $23.00 to $27.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 8th. Royal Bank of Canada restated an “outperform” rating and issued a $25.00 price target on shares of Flywire in a research note on Thursday, January 9th. The Goldman Sachs Group boosted their price objective on Flywire from $22.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Citigroup dropped their price target on Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Finally, Seaport Res Ptn lowered Flywire from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $22.36.

Flywire Trading Up 1.8 %

Shares of Flywire stock opened at $17.64 on Wednesday. Flywire has a 12 month low of $15.19 and a 12 month high of $31.54. The stock’s fifty day simple moving average is $19.59 and its 200 day simple moving average is $18.98. The company has a market capitalization of $2.19 billion, a PE ratio of 117.60, a PEG ratio of 1.41 and a beta of 1.08.

Flywire (NASDAQ:FLYW) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.11). The firm had revenue of $112.80 million during the quarter, compared to analyst estimates of $118.85 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. Analysts predict that Flywire will post 0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Ascent Group LLC increased its holdings in Flywire by 19.7% in the 4th quarter. Ascent Group LLC now owns 33,687 shares of the company’s stock worth $695,000 after purchasing an additional 5,545 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Flywire by 72.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 142,797 shares of the company’s stock worth $2,944,000 after purchasing an additional 60,210 shares during the last quarter. Neo Ivy Capital Management bought a new position in Flywire in the 4th quarter valued at approximately $2,486,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Flywire by 16.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 711,356 shares of the company’s stock worth $14,668,000 after buying an additional 101,431 shares during the period. Finally, Vident Advisory LLC bought a new stake in Flywire during the 4th quarter worth approximately $235,000. 95.90% of the stock is currently owned by institutional investors.

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.