Citigroup Cuts Flywire (NASDAQ:FLYW) Price Target to $13.00

Flywire (NASDAQ:FLYW) had its price target trimmed by Citigroup from $26.00 to $13.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts also recently weighed in on FLYW. BTIG Research downgraded shares of Flywire from a “buy” rating to a “neutral” rating in a report on Wednesday, February 26th. Stephens lowered shares of Flywire from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $26.00 to $15.00 in a research report on Wednesday, February 26th. Seaport Res Ptn downgraded Flywire from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Morgan Stanley lowered their target price on Flywire from $21.00 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Finally, Wells Fargo & Company dropped their price target on Flywire from $20.00 to $16.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Flywire presently has a consensus rating of “Hold” and a consensus target price of $18.23.

Flywire Price Performance

Shares of NASDAQ:FLYW opened at $10.02 on Monday. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 66.80, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17. The business’s 50 day simple moving average is $15.63 and its 200-day simple moving average is $17.91. Flywire has a 12 month low of $8.62 and a 12 month high of $25.10.

Flywire (NASDAQ:FLYW) last posted its 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). The firm had revenue of $112.80 million for the quarter, compared to analysts’ expectations of $118.85 million. Flywire had a return on equity of 2.49% and a net margin of 4.23%. On average, equities analysts anticipate that Flywire will post 0.14 earnings per share for the current year.

Insider Buying and Selling at Flywire

In other news, General Counsel Peter Butterfield sold 5,523 shares of the company’s stock in a transaction 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 directly owns 247,561 shares in the company, valued at $2,495,414.88. This represents a 2.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Gretchen Howard bought 8,889 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 30,770 shares in the company, valued at approximately $336,623.80. This trade represents a 40.62 % increase in their position. The disclosure for this purchase can be found here. 3.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Global Retirement Partners LLC acquired a new stake in Flywire during the 4th quarter valued at $30,000. Arcadia Investment Management Corp MI purchased a new position in Flywire in the 4th quarter valued at about $48,000. Advisors Asset Management Inc. grew its stake in shares of Flywire by 15.4% during the third quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock valued at $66,000 after acquiring an additional 539 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Flywire during the fourth quarter worth about $77,000. Finally, KBC Group NV lifted its stake in shares of Flywire by 64.0% in the fourth 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. Hedge funds and other 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.