Flywire Co. (NASDAQ:FLYW) Short Interest Update

Flywire Co. (NASDAQ:FLYW) saw a large growth in short interest in March. As of March 15th, there was short interest totalling 2,960,000 shares, a growth of 21.8% from the February 28th total of 2,430,000 shares. Based on an average daily volume of 2,300,000 shares, the days-to-cover ratio is presently 1.3 days. Currently, 2.6% of the shares of the company are short sold.

Insider Buying and Selling at Flywire

In related news, Director Gretchen Howard purchased 8,889 shares of Flywire stock in a transaction dated Thursday, February 27th. The stock was bought at an average cost of $10.94 per share, for a total transaction of $97,245.66. Following the transaction, the director now owns 30,770 shares in the company, valued at approximately $336,623.80. The trade was a 40.62 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Peter Butterfield sold 5,523 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $10.08, for a total value of $55,671.84. Following the completion of the sale, the general counsel now owns 247,561 shares in the company, valued at approximately $2,495,414.88. This represents a 2.18 % decrease in their position. The disclosure for this sale can be found here. 3.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Flywire by 6.9% in the fourth quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company’s stock valued at $249,238,000 after buying an additional 781,711 shares in the last quarter. FMR LLC grew its position in Flywire by 3.6% in the third quarter. FMR LLC now owns 9,408,098 shares of the company’s stock valued at $154,199,000 after acquiring an additional 326,120 shares in the last quarter. Jennison Associates LLC grew its position in Flywire by 53.0% in the fourth quarter. Jennison Associates LLC now owns 3,406,312 shares of the company’s stock valued at $70,238,000 after acquiring an additional 1,179,562 shares in the last quarter. State Street Corp raised its stake in shares of Flywire by 5.2% during the third quarter. State Street Corp now owns 2,930,906 shares of the company’s stock valued at $48,038,000 after purchasing an additional 145,894 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Flywire by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 2,828,430 shares of the company’s stock worth $58,335,000 after purchasing an additional 28,944 shares in the last quarter. 95.90% of the stock is owned by hedge funds and other institutional investors.

Flywire Stock Performance

Shares of NASDAQ:FLYW traded up $0.44 during trading on Wednesday, reaching $10.00. 630,271 shares of the stock were exchanged, compared to its average volume of 1,607,108. The firm’s 50-day moving average price is $14.81 and its 200 day moving average price is $17.69. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 66.67, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17. Flywire has a 12-month low of $8.62 and a 12-month high of $24.33.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on FLYW shares. Royal Bank of Canada lowered their price objective on shares of Flywire from $25.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. BTIG Research cut Flywire from a “buy” rating to a “neutral” rating in a report on Wednesday, February 26th. UBS Group cut Flywire from a “buy” rating to a “neutral” rating and cut their price target for the stock from $25.00 to $15.00 in a report on Wednesday, February 26th. The Goldman Sachs Group decreased their price objective on Flywire from $15.00 to $11.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Stephens downgraded shares of Flywire from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $26.00 to $15.00 in a research note on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Flywire currently has an average rating of “Hold” and a consensus price target of $17.92.

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.