Flywire Co. (NASDAQ:FLYW) Short Interest Down 49.2% in February

Flywire Co. (NASDAQ:FLYW) saw a significant drop in short interest in February. As of February 28th, there was short interest totalling 2,430,000 shares, a drop of 49.2% from the February 13th total of 4,780,000 shares. Based on an average trading volume of 2,130,000 shares, the short-interest ratio is presently 1.1 days. Currently, 2.1% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of Flywire from $20.00 to $16.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. BTIG Research downgraded shares of Flywire from a “buy” rating to a “neutral” rating in a report on Wednesday, February 26th. Citigroup cut their price target on shares of Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Raymond James downgraded shares of Flywire from a “strong-buy” rating to an “outperform” rating and cut their price target for the company from $29.00 to $17.00 in a report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Flywire from a “buy” rating to a “hold” rating and cut their price target for the company from $26.00 to $16.00 in a report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Flywire currently has an average rating of “Hold” and an average target price of $19.23.

Insider Activity at Flywire

In other Flywire news, General Counsel Peter Butterfield sold 5,523 shares of Flywire stock in a transaction on Monday, March 10th. The shares were sold at an average price of $10.08, for a total value of $55,671.84. Following the sale, the general counsel now directly owns 247,561 shares in the company, valued at approximately $2,495,414.88. The trade was a 2.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gretchen Howard purchased 8,889 shares of Flywire stock in a transaction on Thursday, February 27th. The stock was bought 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 in the company, valued at $336,623.80. The trade was a 40.62 % increase in their position. The disclosure for this purchase can be found here. 3.90% of the stock is owned by insiders.

Institutional Trading of Flywire

Institutional investors and hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC purchased a new stake in shares of Flywire during the fourth quarter worth about $30,000. Arcadia Investment Management Corp MI purchased a new stake in Flywire during the 4th quarter valued at about $48,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Flywire during the 4th quarter valued at about $77,000. Advisors Asset Management Inc. grew its stake in Flywire by 15.4% during the 3rd 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. Finally, KBC Group NV grew its stake in Flywire by 64.0% during the 4th quarter. KBC Group NV now owns 4,899 shares of the company’s stock valued at $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.

Flywire Trading Up 4.4 %

FLYW traded up $0.44 on Friday, reaching $10.54. The stock had a trading volume of 1,584,813 shares, compared to its average volume of 2,499,111. Flywire has a 12-month low of $8.62 and a 12-month high of $26.15. The business’s 50-day moving average price is $17.04 and its two-hundred day moving average price is $18.33. The company has a market cap of $1.30 billion, a P/E ratio of 70.27, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17.

Flywire (NASDAQ:FLYW) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). Flywire had a net margin of 4.23% and a return on equity of 2.49%. The firm had revenue of $112.80 million during the quarter, compared to analysts’ expectations of $118.85 million. As a group, analysts predict that Flywire will post 0.14 earnings per share for the current year.

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.