Flywire Co. (NASDAQ:FLYW) Short Interest Down 11.5% in October

Flywire Co. (NASDAQ:FLYW) was the target of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 6,170,000 shares, a decrease of 11.5% from the October 15th total of 6,970,000 shares. Currently, 5.2% of the company’s stock are short sold. Based on an average daily volume of 1,090,000 shares, the days-to-cover ratio is presently 5.7 days.

Analyst Ratings Changes

A number of brokerages recently issued reports on FLYW. Wells Fargo & Company cut shares of Flywire from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $20.00 to $18.00 in a research note on Friday, October 11th. B. Riley reissued a “buy” rating and issued a $30.00 price objective on shares of Flywire in a report on Wednesday, October 2nd. JPMorgan Chase & Co. upped their price target on Flywire from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Raymond James raised their price objective on shares of Flywire from $23.00 to $27.00 and gave the company a “strong-buy” rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada dropped their price target on Flywire from $34.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Flywire currently has an average rating of “Moderate Buy” and a consensus target price of $24.86.

Flywire Trading Down 0.6 %

FLYW stock opened at $21.79 on Tuesday. The company has a 50-day moving average price of $17.72 and a 200 day moving average price of $17.49. Flywire has a 12 month low of $15.19 and a 12 month high of $31.54. The stock has a market cap of $2.71 billion, a PE ratio of 145.27, a P/E/G ratio of 4.23 and a beta of 0.95.

Insiders Place Their Bets

In other news, COO Rob Orgel sold 3,824 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $17.31, for a total value of $66,193.44. Following the sale, the chief operating officer now directly owns 473,648 shares of the company’s stock, valued at $8,198,846.88. The trade was a 0.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Peter Butterfield sold 1,769 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $31,912.76. Following the transaction, the general counsel now directly owns 273,517 shares of the company’s stock, valued at approximately $4,934,246.68. This trade represents a 0.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,966 shares of company stock worth $480,143. 3.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Flywire

Several hedge funds have recently bought and sold shares of FLYW. Quarry LP purchased a new position in Flywire during the 2nd quarter worth $26,000. Headlands Technologies LLC increased its stake in Flywire by 82.3% during the 2nd quarter. Headlands Technologies LLC now owns 3,343 shares of the company’s stock valued at $55,000 after purchasing an additional 1,509 shares in the last quarter. Daiwa Securities Group Inc. purchased a new position in Flywire in the 2nd quarter worth $64,000. Advisors Asset Management Inc. raised its stake in shares of Flywire by 15.4% in the third quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock worth $66,000 after purchasing an additional 539 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Flywire during the 3rd quarter valued at approximately $149,000. Institutional investors own 95.90% of the company’s stock.

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.