Flywire Co. (NASDAQ:FLYW) Sees Large Decrease in Short Interest

Flywire Co. (NASDAQ:FLYW) was the recipient of a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 4,390,000 shares, a decline of 7.2% from the December 15th total of 4,730,000 shares. Currently, 3.7% of the shares of the company are sold short. Based on an average trading volume of 1,290,000 shares, the short-interest ratio is presently 3.4 days.

Analyst Ratings Changes

Several brokerages have recently weighed in on FLYW. B. Riley reissued a “buy” rating and set a $30.00 price objective on shares of Flywire in a report on Wednesday, October 2nd. The Goldman Sachs Group boosted their price target on shares of Flywire from $22.00 to $27.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Wells Fargo & Company downgraded shares of Flywire from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $20.00 to $18.00 in a report on Friday, October 11th. Royal Bank of Canada reissued an “outperform” rating and issued a $25.00 target price on shares of Flywire in a research note on Thursday, January 9th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Flywire from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $25.36.

Hedge Funds Weigh In On Flywire

A number of large investors have recently modified their holdings of FLYW. Westfield Capital Management Co. LP increased its position in Flywire by 19.3% in the third quarter. Westfield Capital Management Co. LP now owns 6,226,912 shares of the company’s stock worth $102,059,000 after purchasing an additional 1,006,516 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Flywire in the 2nd quarter valued at about $12,642,000. Squarepoint Ops LLC acquired a new stake in shares of Flywire during the 2nd quarter worth approximately $6,886,000. Invenomic Capital Management LP raised its stake in shares of Flywire by 100.6% during the third quarter. Invenomic Capital Management LP now owns 680,668 shares of the company’s stock worth $11,156,000 after buying an additional 341,411 shares during the last quarter. Finally, FMR LLC lifted its holdings in Flywire by 3.6% in the third quarter. FMR LLC now owns 9,408,098 shares of the company’s stock valued at $154,199,000 after buying an additional 326,120 shares during the period. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Flywire Price Performance

Shares of FLYW stock traded down $0.06 during trading hours on Friday, hitting $20.03. 1,026,591 shares of the company’s stock were exchanged, compared to its average volume of 1,039,711. The stock’s 50-day moving average is $20.99 and its 200-day moving average is $18.66. Flywire has a 52 week low of $15.19 and a 52 week high of $31.54. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 133.53, a price-to-earnings-growth ratio of 1.47 and a beta of 1.10.

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.