Flywire Co. (NASDAQ:FLYW) Short Interest Down 49.2% in February

Flywire Co. (NASDAQ:FLYW) was the recipient of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 2,430,000 shares, a decrease of 49.2% from the February 13th total of 4,780,000 shares. Based on an average trading volume of 2,130,000 shares, the days-to-cover ratio is presently 1.1 days. Approximately 2.1% of the company’s shares are sold short.

Insider Transactions at Flywire

In related news, General Counsel Peter Butterfield sold 5,523 shares of the company’s stock in a transaction that occurred 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 sale, the general counsel now directly owns 247,561 shares of the company’s stock, valued at $2,495,414.88. This represents a 2.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gretchen Howard bought 8,889 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average cost of $10.94 per share, for a total transaction of $97,245.66. Following the completion of the purchase, the director now owns 30,770 shares in the company, valued at $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. Company insiders own 3.90% of the company’s stock.

Institutional Trading of Flywire

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Curi RMB Capital LLC purchased a new position in Flywire during the 3rd quarter valued at about $1,143,000. Quest Partners LLC increased its holdings in Flywire by 575.1% during the 3rd quarter. Quest Partners LLC now owns 14,622 shares of the company’s stock valued at $240,000 after acquiring an additional 12,456 shares in the last quarter. Avior Wealth Management LLC increased its holdings in Flywire by 17.0% during the 3rd quarter. Avior Wealth Management LLC now owns 23,647 shares of the company’s stock valued at $388,000 after acquiring an additional 3,433 shares in the last quarter. Jennison Associates LLC increased its holdings in Flywire by 5.3% during the 3rd quarter. Jennison Associates LLC now owns 2,226,750 shares of the company’s stock valued at $36,496,000 after acquiring an additional 112,218 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in Flywire by 15.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock valued at $66,000 after acquiring an additional 539 shares in the last quarter. Institutional investors and hedge funds own 95.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FLYW. Citigroup cut their target price on shares of Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Raymond James downgraded shares of Flywire from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $29.00 to $17.00 in a research note on Wednesday, February 26th. BTIG Research downgraded shares of Flywire from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 26th. Morgan Stanley dropped their price objective on shares of Flywire from $21.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group downgraded shares of Flywire from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $26.00 to $15.00 in a research report 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $19.23.

Flywire Price Performance

Shares of FLYW stock traded up $0.44 during mid-day trading on Friday, hitting $10.54. The stock had a trading volume of 1,584,813 shares, compared to its average volume of 2,499,111. Flywire has a fifty-two week low of $8.62 and a fifty-two week high of $26.15. The firm has a market cap of $1.30 billion, a PE ratio of 70.27, a PEG ratio of 1.41 and a beta of 1.17. The company’s 50-day simple moving average is $17.04 and its 200-day simple moving average is $18.33.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings data 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 company had revenue of $112.80 million during the quarter, compared to analyst estimates of $118.85 million. On average, analysts expect that Flywire will post 0.14 EPS for the current year.

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.