Short Interest in Flywire Co. (NASDAQ:FLYW) Expands By 21.8%

by · The Markets Daily

Flywire Co. (NASDAQ:FLYW – Get Free Report) was the target of a large growth in short interest in the month of 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. Currently, 2.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,300,000 shares, the days-to-cover ratio is presently 1.3 days.

Analyst Upgrades and Downgrades

FLYW has been the subject of several research reports. Deutsche Bank Aktiengesellschaft cut Flywire from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $26.00 to $16.00 in a report on Wednesday, February 26th. Morgan Stanley cut their price target on Flywire from $21.00 to $15.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company lowered their price objective on shares of Flywire from $20.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Citigroup cut their target price on shares of Flywire from $26.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Finally, Raymond James lowered shares of Flywire from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from $29.00 to $17.00 in a research report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $17.92.

Check Out Our Latest Report on Flywire

Flywire Price Performance

FLYW stock traded down $0.37 on Thursday, hitting $9.46. 640,935 shares of the company were exchanged, compared to its average volume of 1,609,118. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 63.07, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17. The business’s fifty day moving average is $14.62 and its two-hundred day moving average is $17.64. Flywire has a twelve month low of $8.62 and a twelve month high of $24.33.

Flywire (NASDAQ:FLYW – Get Free Report) last announced its quarterly earnings results 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). The business had revenue of $112.80 million for the quarter, compared to analyst estimates of $118.85 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. Equities research analysts expect that Flywire will post 0.14 earnings per share for the current year.

Insider Activity

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

Institutional Investors Weigh In On Flywire

Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in Flywire by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,799,486 shares of the company’s stock valued at $45,892,000 after purchasing an additional 17,062 shares in the last quarter. Versor Investments LP acquired a new stake in shares of Flywire during the fourth quarter valued at about $1,118,000. Y Intercept Hong Kong Ltd increased its position in shares of Flywire by 345.3% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 96,029 shares of the company’s stock worth $1,980,000 after acquiring an additional 74,465 shares during the last quarter. FMR LLC lifted its stake in shares of Flywire by 3.6% in the third quarter. FMR LLC now owns 9,408,098 shares of the company’s stock worth $154,199,000 after acquiring an additional 326,120 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its stake in shares of Flywire by 99.7% in the fourth quarter. New York State Common Retirement Fund now owns 220,625 shares of the company’s stock worth $4,549,000 after acquiring an additional 110,124 shares in the last quarter. 95.90% of the stock is currently owned by hedge funds and other institutional investors.

Flywire Company Profile

(Get Free Report)

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.

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