Flywire Co. (NASDAQ:FLYW) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Flywire Co. (NASDAQ:FLYW) have received an average rating of “Moderate Buy” from the fifteen research firms that are currently covering the stock, MarketBeat.com reports. Four equities 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 1-year price target among analysts that have issued ratings on the stock in the last year is $24.86.

Several equities analysts have recently issued reports on FLYW shares. Citigroup decreased their target price on Flywire from $27.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Wells Fargo & Company downgraded shares of Flywire from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $20.00 to $18.00 in a research note on Friday, October 11th. Raymond James lifted their price target 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. Morgan Stanley upped their price objective on shares of Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Finally, BTIG Research reduced their target price on Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th.

Flywire Stock Down 2.1 %

Shares of Flywire stock opened at $22.46 on Friday. The business has a fifty day simple moving average of $18.22 and a 200 day simple moving average of $17.62. The stock has a market cap of $2.79 billion, a PE ratio of 149.73, a price-to-earnings-growth ratio of 4.42 and a beta of 0.95. Flywire has a 12 month low of $15.19 and a 12 month high of $31.54.

Insider Activity

In related news, COO Rob Orgel sold 4,552 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 $82,118.08. Following the completion of the transaction, the chief operating officer now directly owns 477,472 shares of the company’s stock, valued at approximately $8,613,594.88. This represents a 0.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael Massaro sold 8,629 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 $155,667.16. Following the transaction, the chief executive officer now directly owns 1,739,351 shares in the company, valued at $31,377,892.04. This trade represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,966 shares of company stock worth $480,143 over the last ninety days. Insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Flywire

Several hedge funds and other institutional investors have recently made changes to their positions in FLYW. Quarry LP acquired a new stake in Flywire in the second quarter valued at $26,000. Advisors Asset Management Inc. raised its holdings in shares of Flywire by 45.6% in the 1st quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company’s stock valued at $76,000 after purchasing an additional 954 shares during the period. Headlands Technologies LLC lifted its stake in Flywire by 82.3% in the 2nd 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. bought a new position in Flywire during the second quarter worth about $64,000. Finally, SG Americas Securities LLC acquired a new position in Flywire during the third quarter worth approximately $149,000. 95.90% of the stock is owned by institutional investors.

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.