Flywire (NASDAQ:FLYW) Shares Gap Down – Time to Sell?

Flywire Co. (NASDAQ:FLYW) shares 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 traded.

Analyst Ratings Changes

Several research analysts recently weighed in on FLYW shares. Royal Bank of Canada decreased their target price on Flywire from $34.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. BTIG Research reduced their price objective on shares of Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price objective on shares of Flywire from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. B. Riley reissued a “buy” rating and set a $30.00 target price on shares of Flywire in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company cut shares of Flywire from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $20.00 to $18.00 in a report on Friday. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.07.

Flywire Trading Down 0.2 %

The stock has a 50-day simple moving average of $17.26 and a 200 day simple moving average of $18.25. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of -148.55, a price-to-earnings-growth ratio of 6.94 and a beta of 0.97.

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

Insider Activity

In other Flywire news, CTO David R. King sold 3,504 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $17.31, for a total value of $60,654.24. Following the transaction, the chief technology officer now owns 616,680 shares in the company, valued at $10,674,730.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Flywire news, CTO David R. King sold 3,504 shares of Flywire stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $17.31, for a total value of $60,654.24. Following the completion of the sale, the chief technology officer now directly owns 616,680 shares in the company, valued at $10,674,730.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Massaro sold 8,629 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction of $155,667.16. Following the completion of the sale, the chief executive officer now directly owns 1,739,351 shares of the company’s stock, valued at $31,377,892.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,966 shares of company stock worth $480,143 in the last ninety days. Corporate insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Flywire

Several institutional investors have recently bought and sold shares of FLYW. Quarry LP acquired a new position in shares of Flywire during the 2nd quarter valued at about $26,000. Headlands Technologies LLC acquired a new position in Flywire during the first quarter valued at approximately $46,000. Advisors Asset Management Inc. raised its position in shares of 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 purchasing an additional 954 shares during the period. Daiwa Securities Group Inc. bought a new position in shares of Flywire in the second quarter valued at approximately $64,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Flywire in the third quarter worth $149,000. 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.