Flywire (NASDAQ:FLYW) Sets New 12-Month Low – Here’s What Happened

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

Analyst Ratings Changes

Several analysts recently commented on FLYW shares. UBS Group lowered Flywire from a “buy” rating to a “neutral” rating and decreased their price target for the company from $25.00 to $15.00 in a research note on Wednesday, February 26th. Seaport Res Ptn lowered shares of Flywire from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. The Goldman Sachs Group dropped their price objective on Flywire from $15.00 to $11.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Morgan Stanley lowered their target price on shares of Flywire from $21.00 to $15.00 and set an “equal weight” rating for the company in a report on Wednesday, February 26th. Finally, BTIG Research downgraded Flywire from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Flywire currently has an average rating of “Hold” and a consensus target price of $17.92.

Flywire Stock Up 5.7 %

The stock has a market capitalization of $1.13 billion, a P/E ratio of 60.93, a price-to-earnings-growth ratio of 1.41 and a beta of 1.22. The company has a fifty day simple moving average of $13.61 and a two-hundred day simple moving average of $17.35.

Flywire (NASDAQ:FLYW) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.12) earnings per share 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 the consensus estimate of $118.85 million. As a group, equities analysts forecast that Flywire Co. will post 0.14 earnings per share for the current year.

Insider Activity

In related 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 transaction of $55,671.84. Following the completion of the transaction, the general counsel now directly owns 247,561 shares in the company, valued at approximately $2,495,414.88. This trade represents a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gretchen Howard bought 8,889 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was purchased at an average price of $10.94 per share, for a total transaction of $97,245.66. Following the purchase, the director now directly owns 30,770 shares in the company, valued at approximately $336,623.80. This represents 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 Investors Weigh In On Flywire

A number of institutional investors and hedge funds have recently made changes to their positions in FLYW. Captrust Financial Advisors raised its position in Flywire by 12.3% during the third quarter. Captrust Financial Advisors now owns 13,377 shares of the company’s stock worth $219,000 after acquiring an additional 1,463 shares in the last quarter. State Street Corp raised its stake in Flywire by 5.2% in the 3rd quarter. State Street Corp now owns 2,930,906 shares of the company’s stock worth $48,038,000 after purchasing an additional 145,894 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Flywire in the 3rd quarter valued at about $353,000. Barclays PLC increased its holdings in shares of Flywire by 361.4% during the third quarter. Barclays PLC now owns 197,493 shares of the company’s stock worth $3,236,000 after purchasing an additional 154,694 shares during the period. Finally, Bullseye Asset Management LLC raised its position in shares of Flywire by 0.7% in the third quarter. Bullseye Asset Management LLC now owns 146,846 shares of the company’s stock valued at $2,407,000 after buying an additional 1,000 shares in the last quarter. 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.