Flywire’s (FLYW) Underweight Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their underweight rating on shares of Flywire (NASDAQ:FLYW) in a research note released on Monday, Marketbeat.com reports. The brokerage currently has a $9.00 price target on the stock, down from their prior price target of $16.00.

A number of other equities analysts have also recently weighed in on the company. Deutsche Bank Aktiengesellschaft cut Flywire from a “buy” rating to a “hold” rating and reduced their price target for the stock from $26.00 to $16.00 in a report on Wednesday, February 26th. BTIG Research lowered Flywire from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 26th. The Goldman Sachs Group cut their price target on shares of Flywire from $15.00 to $11.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Seaport Res Ptn downgraded shares of Flywire from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, Stephens cut shares of Flywire from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $26.00 to $15.00 in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $17.00.

Flywire Stock Up 2.6 %

Shares of FLYW stock opened at $8.83 on Monday. The business has a 50-day simple moving average of $12.05 and a 200-day simple moving average of $16.96. The stock has a market cap of $1.09 billion, a PE ratio of 58.87, a price-to-earnings-growth ratio of 1.41 and a beta of 1.22. Flywire has a 52-week low of $8.20 and a 52-week high of $23.40.

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

Insiders Place Their Bets

In other news, General Counsel Peter Butterfield sold 5,523 shares of the company’s stock in a transaction on 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 $2,495,414.88. This represents a 2.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gretchen Howard acquired 8,889 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average cost of $10.94 per share, with a total value of $97,245.66. Following the completion of the transaction, the director now directly owns 30,770 shares in the company, valued at approximately $336,623.80. The trade was a 40.62 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its holdings in shares of Flywire by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,799,486 shares of the company’s stock worth $45,892,000 after acquiring an additional 17,062 shares during the last quarter. Versor Investments LP purchased a new position in shares of Flywire during the fourth quarter worth $1,118,000. Y Intercept Hong Kong Ltd grew its stake in shares of Flywire by 345.3% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 96,029 shares of the company’s stock valued at $1,980,000 after buying an additional 74,465 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Flywire by 38.4% in the 4th quarter. Sei Investments Co. now owns 110,144 shares of the company’s stock valued at $2,271,000 after buying an additional 30,572 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Flywire by 6.9% during the 4th quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company’s stock worth $249,238,000 after acquiring an additional 781,711 shares in the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

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.