Flywire Co. (NASDAQ:FLYW) Short Interest Update

Flywire Co. (NASDAQ:FLYW) was the recipient 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. Based on an average daily trading volume, of 2,300,000 shares, the days-to-cover ratio is presently 1.3 days. Approximately 2.6% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

FLYW has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft downgraded Flywire from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $26.00 to $16.00 in a research report on Wednesday, February 26th. BTIG Research cut shares of Flywire from a “buy” rating to a “neutral” rating in a report on Wednesday, February 26th. UBS Group lowered shares of Flywire from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $25.00 to $15.00 in a report on Wednesday, February 26th. Wells Fargo & Company lowered their target price on shares of Flywire from $20.00 to $16.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Finally, Citigroup cut their price target on Flywire from $26.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $17.92.

Flywire Price Performance

Shares of FLYW traded down $0.37 during mid-day trading on Thursday, reaching $9.46. 640,935 shares of the company’s stock were exchanged, compared to its average volume of 1,609,118. The business’s fifty day simple moving average is $14.62 and its 200-day simple moving average is $17.64. The stock has a market capitalization of $1.17 billion, a PE ratio of 63.07, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17. Flywire has a 52-week low of $8.62 and a 52-week high of $24.33.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.12) EPS 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 business had revenue of $112.80 million during the quarter, compared to analyst estimates of $118.85 million. Equities research analysts predict that Flywire will post 0.14 earnings per share for the current year.

Insider Activity at Flywire

In other news, General Counsel Peter Butterfield sold 5,523 shares of the stock in a transaction 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 sale, the general counsel now directly owns 247,561 shares in the company, valued at approximately $2,495,414.88. This trade represents a 2.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gretchen Howard bought 8,889 shares of the firm’s 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 completion of the acquisition, the director now owns 30,770 shares of the company’s stock, valued at $336,623.80. This trade represents a 40.62 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 3.90% of the company’s stock.

Institutional Trading of Flywire

Hedge funds have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC purchased a new stake in shares of Flywire during the fourth quarter worth approximately $30,000. Arcadia Investment Management Corp MI purchased a new position in Flywire during the 4th quarter worth $48,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Flywire during the 4th quarter worth $77,000. KBC Group NV lifted its stake in shares of Flywire by 64.0% in the 4th quarter. KBC Group NV now owns 4,899 shares of the company’s stock worth $101,000 after acquiring an additional 1,911 shares during the period. Finally, Venturi Wealth Management LLC purchased a new stake in shares of Flywire in the fourth quarter valued at about $104,000. 95.90% of the stock is owned by institutional investors and hedge funds.

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.