Flywire (NASDAQ:FLYW) Sees Unusually-High Trading Volume – Should You Buy?

Flywire Co. (NASDAQ:FLYW) shares saw unusually-high trading volume on Monday . Approximately 3,397,344 shares were traded during mid-day 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.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Raymond James downgraded Flywire from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock from $29.00 to $17.00 in a research note on Wednesday, February 26th. The Goldman Sachs Group downgraded shares of Flywire from a “buy” rating to a “neutral” rating and cut their price objective for the company from $26.00 to $15.00 in a report on Wednesday, February 26th. Seaport Res Ptn downgraded shares of Flywire from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Morgan Stanley decreased their price target 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 report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $18.23.

Flywire Stock Performance

The business’s 50 day moving average price is $16.18 and its 200-day moving average price is $18.07. The firm has a market capitalization of $1.25 billion, a PE ratio of 67.37, a P/E/G ratio of 1.41 and a beta of 1.17.

Flywire (NASDAQ:FLYW) last released its quarterly earnings results 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. As a group, analysts anticipate that Flywire Co. will post 0.14 earnings per share for the current year.

Insider Buying and Selling

In other Flywire news, Director Gretchen Howard acquired 8,889 shares of the company’s stock in a transaction that occurred 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 completion of the acquisition, the director now owns 30,770 shares of the company’s stock, valued at approximately $336,623.80. This trade represents a 40.62 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the general counsel now 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 disclosure for this sale can be found here. 3.90% of the stock is owned by corporate insiders.

Institutional Trading of Flywire

Large investors have recently made changes to their positions in the company. Global Retirement Partners LLC purchased a new stake in shares of Flywire in the 4th quarter valued at approximately $30,000. Arcadia Investment Management Corp MI purchased a new position in Flywire in the fourth quarter valued at $48,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Flywire in the fourth quarter valued at $77,000. Advisors Asset Management Inc. lifted its holdings in Flywire by 15.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock worth $66,000 after buying an additional 539 shares during the last quarter. Finally, KBC Group NV boosted its position in shares of Flywire by 64.0% during the 4th quarter. KBC Group NV now owns 4,899 shares of the company’s stock worth $101,000 after acquiring an additional 1,911 shares in the last quarter. 95.90% of the stock is currently owned by hedge funds and other 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.