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

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

Flywire Stock Performance

Shares of NASDAQ:FLYW traded up $0.44 during trading hours on Wednesday, hitting $10.00. The stock had a trading volume of 630,271 shares, compared to its average volume of 1,607,108. The stock’s fifty day simple moving average is $14.81 and its 200 day simple moving average is $17.69. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 66.67, a PEG ratio of 1.41 and a beta of 1.17. Flywire has a 1-year low of $8.62 and a 1-year high of $24.33.

Flywire (NASDAQ:FLYW) last posted its earnings results on Tuesday, February 25th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate 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. As a group, research analysts anticipate that Flywire will post 0.14 EPS for the current year.

Insider Transactions at Flywire

In other Flywire news, General Counsel Peter Butterfield sold 5,523 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $10.08, for a total transaction of $55,671.84. Following the completion of the transaction, the general counsel now directly owns 247,561 shares of the company’s stock, valued at $2,495,414.88. This trade represents a 2.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gretchen Howard bought 8,889 shares of the business’s stock in a transaction dated 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 purchase, the director now owns 30,770 shares in the company, valued at approximately $336,623.80. This represents a 40.62 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Flywire

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Palogic Value Management L.P. increased its stake in Flywire by 5.6% during the 4th quarter. Palogic Value Management L.P. now owns 190,000 shares of the company’s stock valued at $3,918,000 after buying an additional 10,000 shares during the period. Ascent Group LLC increased its stake in shares of Flywire by 19.7% during the fourth quarter. Ascent Group LLC now owns 33,687 shares of the company’s stock valued at $695,000 after acquiring an additional 5,545 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Flywire by 72.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 142,797 shares of the company’s stock worth $2,944,000 after purchasing an additional 60,210 shares in the last quarter. Neo Ivy Capital Management bought a new stake in Flywire during the fourth quarter worth approximately $2,486,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Flywire by 16.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 711,356 shares of the company’s stock worth $14,668,000 after purchasing an additional 101,431 shares during the period. 95.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Morgan Stanley cut their price objective on Flywire from $21.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. BTIG Research lowered Flywire from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 26th. Seaport Res Ptn cut Flywire from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Wells Fargo & Company dropped 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. Finally, Stephens lowered shares of Flywire from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $26.00 to $15.00 in a report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Flywire currently has a consensus rating of “Hold” and an average 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.