Flywire (NASDAQ:FLYW) Sees Unusually-High Trading Volume – Still a Buy?

Flywire Co. (NASDAQ:FLYW) shares saw strong trading volume on Monday . 3,397,344 shares traded hands during trading, an increase of 39% from the previous session’s volume of 2,440,257 shares.The stock last traded at $10.52 and had previously closed at $9.96.

Analysts Set New Price Targets

FLYW has been the topic of a number of research reports. Stephens downgraded shares of Flywire from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $26.00 to $15.00 in a research report on Wednesday, February 26th. The Goldman Sachs Group lowered Flywire from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $26.00 to $15.00 in a research report on Wednesday, February 26th. Raymond James lowered shares of Flywire from a “strong-buy” rating to an “outperform” rating and decreased their price target for the company from $29.00 to $17.00 in a research note on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft cut shares of Flywire from a “buy” rating to a “hold” rating and reduced their price objective for the company from $26.00 to $16.00 in a report on Wednesday, February 26th. Finally, Seaport Res Ptn downgraded Flywire from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $18.23.

Flywire Price Performance

The company has a market cap of $1.27 billion, a PE ratio of 69.65, a PEG ratio of 1.41 and a beta of 1.17. The firm’s 50 day moving average is $15.83 and its 200 day moving average is $17.97.

Flywire (NASDAQ:FLYW) last released its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $118.85 million. As a group, analysts anticipate that Flywire Co. will post 0.14 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Peter Butterfield sold 5,523 shares of the stock in a transaction that occurred on 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 sale, the general counsel now owns 247,561 shares of the company’s stock, valued at approximately $2,495,414.88. This represents a 2.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gretchen Howard purchased 8,889 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was purchased at an average cost of $10.94 per share, for a total transaction of $97,245.66. Following the acquisition, the director now owns 30,770 shares in the company, valued at approximately $336,623.80. The trade was a 40.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 3.90% of the company’s stock.

Institutional Trading of Flywire

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Global Retirement Partners LLC bought a new stake in shares of Flywire in the fourth quarter worth $30,000. Arcadia Investment Management Corp MI bought a new stake in Flywire during the 4th quarter worth approximately $48,000. Advisors Asset Management Inc. raised its position in shares of Flywire by 15.4% during the 3rd 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 period. Point72 Asia Singapore Pte. Ltd. bought a new position in Flywire in the 4th quarter worth $77,000. Finally, KBC Group NV raised its holdings in Flywire by 64.0% during the fourth quarter. KBC Group NV now owns 4,899 shares of the company’s stock valued at $101,000 after acquiring an additional 1,911 shares during the period. 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.