Flywire (NASDAQ:FLYW) Shares Gap Down to $33.65

Flywire Co. (NASDAQ:FLYW)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $33.65, but opened at $32.50. Flywire shares last traded at $32.52, with a volume of 6,593 shares traded.

A number of analysts have recently weighed in on FLYW shares. The Goldman Sachs Group started coverage on Flywire in a research report on Friday, December 10th. They set a “neutral” rating and a $47.00 price objective on the stock. Citigroup boosted their target price on shares of Flywire from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, November 10th. Royal Bank of Canada boosted their target price on shares of Flywire from $47.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 10th. Zacks Investment Research downgraded shares of Flywire from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Raymond James lowered their target price on shares of Flywire from $57.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $44.60.

The company has a quick ratio of 4.67, a current ratio of 4.67 and a debt-to-equity ratio of 0.05. The firm’s 50 day simple moving average is $38.45 and its 200-day simple moving average is $39.80.

Flywire (NASDAQ:FLYW) last announced its earnings results on Tuesday, November 9th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.11. The business had revenue of $67.79 million for the quarter, compared to analyst estimates of $51.32 million. Equities research analysts forecast that Flywire Co. will post -0.17 EPS for the current fiscal year.

In related news, CFO Michael G. Ellis sold 12,500 shares of the stock in a transaction dated Wednesday, November 17th. The shares were sold at an average price of $43.38, for a total transaction of $542,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Peter Butterfield sold 2,300 shares of the stock in a transaction dated Friday, December 17th. The stock was sold at an average price of $35.00, for a total transaction of $80,500.00. The disclosure for this sale can be found here. Insiders have sold 449,830 shares of company stock valued at $17,524,319 in the last quarter.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. purchased a new position in Flywire in the second quarter valued at about $36,000. FourThought Financial LLC purchased a new position in Flywire in the third quarter valued at about $54,000. Rockefeller Capital Management L.P. purchased a new position in Flywire in the third quarter valued at about $56,000. Citigroup Inc. purchased a new position in Flywire in the third quarter valued at about $60,000. Finally, Legal & General Group Plc purchased a new position in Flywire in the second quarter valued at about $74,000. 64.95% of the stock is owned by hedge funds and other institutional investors.

About Flywire (NASDAQ:FLYW)

Flywire Corporation operates as a payment 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; and provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.

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