Flywire Co. (NASDAQ:FLYW) Short Interest Update

Flywire Co. (NASDAQ:FLYW) was the recipient of a large drop in short interest in September. As of September 30th, there was short interest totalling 6,520,000 shares, a drop of 6.5% from the September 15th total of 6,970,000 shares. Based on an average daily trading volume, of 1,160,000 shares, the days-to-cover ratio is presently 5.6 days. Approximately 5.5% of the shares of the stock are sold short.

Insider Activity at Flywire

In related news, CTO David R. King sold 3,353 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $60,488.12. Following the transaction, the chief technology officer now directly owns 620,184 shares of the company’s stock, valued at approximately $11,188,119.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Flywire news, CTO David R. King sold 3,353 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $60,488.12. Following the transaction, the chief technology officer now directly owns 620,184 shares of the company’s stock, valued at $11,188,119.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Peter Butterfield sold 1,769 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction of $31,912.76. Following the completion of the transaction, the general counsel now directly owns 273,517 shares in the company, valued at $4,934,246.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,966 shares of company stock valued at $480,143. 3.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Flywire

Institutional investors have recently modified their holdings of the business. Quarry LP acquired a new position in shares of Flywire in the second quarter worth $26,000. Headlands Technologies LLC acquired a new position in shares of Flywire in the first quarter worth $46,000. Daiwa Securities Group Inc. acquired a new position in shares of Flywire in the second quarter worth $64,000. Advisors Asset Management Inc. lifted its position in shares of Flywire by 45.6% during the 1st quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company’s stock worth $76,000 after purchasing an additional 954 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Flywire during the 3rd quarter worth $149,000. Institutional investors and hedge funds own 95.90% of the company’s stock.

Wall Street Analysts Forecast Growth

FLYW has been the topic of a number of research reports. Royal Bank of Canada decreased their target price on shares of Flywire from $34.00 to $25.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Wells Fargo & Company lowered shares of Flywire from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $20.00 to $18.00 in a research note on Friday, October 11th. JPMorgan Chase & Co. lifted their price target on shares of Flywire from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. B. Riley reaffirmed a “buy” rating and set a $30.00 price target on shares of Flywire in a research report on Wednesday, October 2nd. Finally, Citigroup reduced their price target on shares of Flywire from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.07.

Flywire Trading Down 1.8 %

Flywire stock traded down $0.30 during trading on Thursday, hitting $16.84. The company had a trading volume of 244,643 shares, compared to its average volume of 1,412,600. Flywire has a 1-year low of $15.19 and a 1-year high of $31.54. The company’s 50 day simple moving average is $17.15 and its 200-day simple moving average is $17.98. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of -152.00, a price-to-earnings-growth ratio of 6.94 and a beta of 0.97.

Flywire (NASDAQ:FLYW) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The business had revenue of $103.68 million during the quarter, compared to analyst estimates of $100.30 million. Flywire had a negative return on equity of 1.03% and a negative net margin of 1.85%. The business’s revenue was up 22.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.15) EPS. As a group, analysts forecast that Flywire will post 0.05 earnings per share for the current fiscal year.

About Flywire

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.