Flywire Inc (NASDAQ:FLYW) is down 7% after an analyst downgrade.


The price target that Truist Financial has set for Flywire Co. (NASDAQ: FLYW-Get Rating) fell from $36.00 to $32.00 on Friday, causing the stock price to drop 7% company shares. Currently, shares of Truist Financial have been recommended for purchase by the investment community. However, there is some wiggle room in the price of Flywire as it can range from $19.40 to $19.58. The total number of shares that were traded during the day was 28,302, representing a 97% decline from the average daily session volume of 1,097,120 shares. The company’s share price at the most recent market close was $21.06.

Regarding FLYW, a wide range of additional research papers have been written. Wells Fargo & Company raised its price target for Flywire shares from $29.00 to $30.00 and classified the stock as “overweight” in a research note released Thursday, September 8. In a research note released Monday, August 15, Goldman Sachs Group announced that they would raise their price target for Flywire shares to $32.00. The note has been published in its entirety online. Seven of the eight experts who participate in equity research gave the stock a buy rating, and one of those experts even gave it a strong buy rating. MarketBeat.com says the company’s current rating is “Buy” and the stock’s average price target is $36.25. This information comes from various financial analysts.
Separately, on Monday August 15, Bain Capital Venture Investors sold 1,653,986 shares of Flywire. Bain Capital Venture Investors is the company’s largest shareholder. The price of each share was $25.35, resulting in a total of $41,928,545.10 from the sale of the shares. After the completion of the sale, the insider now directly owns 13,645,388 shares of the company. These shares have a combined value of $345,910,585.80. If you follow the link, which will take you to a legal filing filed with the SEC, you will have the opportunity to acquire additional information regarding the transaction. Separately, on Monday, October 3, Michael Massaro, the company’s chief executive, sold 4,830 shares. This information was revealed in a press release. The sale of the shares brought in total revenue of $116,499.60, with the average price paid for each share being $24.12. As a direct result of the transaction, the CEO now owns 1,110,030 shares of the company. Based on the current share price, this gives the CEO a working interest worth $26,773,923.60. If you follow this link, you will be redirected to the filing submitted to the Securities and Exchange Commission, where the transaction was discussed. You can just ignore this link if you don’t want to follow it.
Additionally, on Monday, August 15, the company’s largest shareholder, Bain Capital Venture Investors, sold 1,653,986 shares of the company. $41,928,545.10 was spent to purchase the shares, totaling an average price of $25.35 per share. After the completion of the sale, the insider now directly owns 13,645,388 shares of the company. These shares have a combined value of $345,910,585.80. Disclosures related to the sale can be found in this section of the website. Company insiders sold a total of 2,619,453 shares of the company worth $67,392,678 in the last three months. Company insiders currently own 37.50% of the company’s stock.
In recent times, institutional investors have engaged in buying and selling shares in various companies. During the second quarter, Nisa Investment Advisors LLC achieved a 226.6% increase in the proportion of Flywire shares it held. Nisa Investment Advisors LLC recently increased its stake in the company’s stock by purchasing an additional 1,450 shares. This brings the total number of shares held by the company to 2,090, with an associated value of $37,000. FourThought Financial LLC increased the percentage of Flywire shares held by 123.3% in the first three months of 2018. FourThought Financial LLC now owns 2,563 shares of the company, currently valued at $78,000. This was accomplished by purchasing an additional 1,415 shares during the above period. UBS Group AG increased its stake in Flywire by 433.1% in the first three months of this year. UBS Group AG now owns a total stake in the company equal to 3,300 shares, for a total of $101,000, after purchasing an additional 2,681 shares in the most recent period. These shares were purchased for a total of $101,000. Zurcher Kantonalbank, also known as Zurich Cantonalbank, spent $79,000 to buy an additional stake in Flywire during the second quarter. The Cantonal Bank of Zurcher is also known as the Cantonal Bank of Zurich. Not to mention that in the first three months of this year, Wintons Group Ltd. established a new position in Flywire with a total value of $231,000. Institutional investors and hedge funds currently control 73.30% of the company’s shares and are its major shareholders.

The company’s market capitalization currently sits at $2.14 billion, while its price-earnings ratio is -56.11 and its beta is 1.54. The stock price reached $24.56 on its moving average over the last 50 days, while the price reached $23.62 on its moving average over the last 200 days. The three financial ratios, including the current, quick and debt ratios, add up to 3.92. The debt-to-equity ratio is 0.06 right now.
On Tuesday, August 9, Flywire (NASDAQ: FLYW-Get Rating) released its latest quarterly earnings report. The company reported earnings per share (EPS) for the quarter of $0.22, $0.05 below the consensus expectation for the quarter of $0.17. Revenue for the quarter was $56.40 million, well above analysts’ consensus estimate of $47.61 million for the amount of revenue generated in the quarter. Flywire’s return on equity was negative, at 7.37%, and the company’s net margin was also negative, at 14.98%. Compared to the previous fiscal year, the current year has seen an increase in revenue of 52.4%. The company’s earnings per share were $0.16, comparable to the results it achieved during the same period a year earlier. Market research analysts expect Flywire to suffer a loss of $0.26 per share for the current fiscal year.

Flywire Corporation and its subsidiaries are payment enablers and software developers. They have operations in several countries including the United States of America, Canada, United Kingdom, and other locations around the world. The company’s customers can make payments through the company’s network and payment platform, as well as industry-specific software provided by the company. Customers can now pay the business, which helps business customers get paid.

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