Flywire (NASDAQ:FLYW) Shares Gap Down – What’s Next?

Flywire Co. (NASDAQ:FLYW)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $16.49, but opened at $16.03. Flywire shares last traded at $16.16, with a volume of 52,746 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FLYW. Citigroup cut their price objective on Flywire from $27.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. B. Riley reiterated a “buy” rating and set a $30.00 price target on shares of Flywire in a report on Wednesday, October 2nd. Royal Bank of Canada lowered their price objective on shares of Flywire from $34.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Flywire from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company lowered shares of Flywire from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $20.00 to $18.00 in a research report on Friday. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Flywire has an average rating of “Moderate Buy” and an average price target of $26.07.

Flywire Stock Down 0.2 %

The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of -148.55, a P/E/G ratio of 6.94 and a beta of 0.97. The business has a fifty day simple moving average of $17.26 and a two-hundred day simple moving average of $18.25.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.01). Flywire had a negative net margin of 1.85% and a negative return on equity of 1.03%. The company had revenue of $103.68 million during the quarter, compared to analyst estimates of $100.30 million. During the same period in the prior year, the firm earned ($0.15) EPS. Flywire’s quarterly revenue was up 22.2% compared to the same quarter last year. As a group, equities analysts predict that Flywire Co. will post 0.05 earnings per share for the current fiscal year.

Insider Transactions at Flywire

In related news, COO Rob Orgel sold 3,824 shares of Flywire stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $17.31, for a total transaction of $66,193.44. Following the completion of the transaction, the chief operating officer now directly owns 473,648 shares of the company’s stock, valued at $8,198,846.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, General Counsel Peter Butterfield sold 1,769 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction of $31,912.76. Following the sale, the general counsel now owns 273,517 shares in the company, valued at approximately $4,934,246.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Rob Orgel sold 3,824 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $17.31, for a total value of $66,193.44. Following the completion of the sale, the chief operating officer now owns 473,648 shares of the company’s stock, valued at approximately $8,198,846.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,966 shares of company stock valued at $480,143. 3.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Flywire

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FLYW. Oppenheimer Asset Management Inc. increased its holdings in shares of Flywire by 3.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 19,884 shares of the company’s stock valued at $493,000 after purchasing an additional 702 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Flywire by 3.1% during the second quarter. Arizona State Retirement System now owns 30,475 shares of the company’s stock valued at $499,000 after acquiring an additional 908 shares during the period. Advisors Asset Management Inc. boosted its holdings in Flywire by 45.6% in the first quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company’s stock valued at $76,000 after acquiring an additional 954 shares during the last quarter. Truist Financial Corp increased its position in Flywire by 6.2% in the second quarter. Truist Financial Corp now owns 19,434 shares of the company’s stock worth $319,000 after purchasing an additional 1,128 shares during the period. Finally, Ascent Group LLC raised its holdings in Flywire by 10.1% during the 1st quarter. Ascent Group LLC now owns 14,165 shares of the company’s stock worth $351,000 after purchasing an additional 1,300 shares during the last quarter. Institutional investors and hedge funds 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.