Flywire Co. (NASDAQ:FLYW) Short Interest Update

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on FLYW shares. Wells Fargo & Company decreased their price target 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. The Goldman Sachs Group lowered shares of Flywire from a "buy" rating to a "neutral" rating and decreased their price target for the company from $26.00 to $15.00 in a report on Wednesday, February 26th. UBS Group downgraded shares of Flywire from a "buy" rating to a "neutral" rating and cut their target price for the company from $25.00 to $15.00 in a research note on Wednesday, February 26th. 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. Finally, Seaport Res Ptn downgraded shares of Flywire from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $19.23.

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Insider Buying and Selling

In other news, Director Gretchen Howard bought 8,889 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average price of $10.94 per share, for a total transaction of $97,245.66. Following the completion of the transaction, the director now owns 30,770 shares in the company, valued at $336,623.80. The trade was a 40.62 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Peter Butterfield sold 5,523 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $10.08, for a total transaction of $55,671.84. Following the sale, the general counsel now owns 247,561 shares in the company, valued at approximately $2,495,414.88. This trade represents a 2.18 % decrease in their position. The disclosure for this sale can be found here. 3.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Global Retirement Partners LLC acquired a new position in Flywire during the 4th quarter valued at about $30,000. Arcadia Investment Management Corp MI acquired a new position in Flywire during the 4th quarter valued at about $48,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Flywire during the 4th quarter valued at about $77,000. Advisors Asset Management Inc. boosted its stake 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 purchasing an additional 539 shares during the period. Finally, KBC Group NV boosted its stake in Flywire by 64.0% during the 4th quarter. KBC Group NV now owns 4,899 shares of the company's stock valued at $101,000 after purchasing an additional 1,911 shares during the period. 95.90% of the stock is owned by institutional investors and hedge funds.

Flywire Trading Down 0.6 %

FLYW stock traded down $0.06 during mid-day trading on Tuesday, hitting $10.39. 1,561,827 shares of the company were exchanged, compared to its average volume of 2,457,462. Flywire has a twelve month low of $8.62 and a twelve month high of $25.95. The firm has a fifty day simple moving average of $16.86 and a 200 day simple moving average of $18.29. The company has a market capitalization of $1.28 billion, a PE ratio of 69.27, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17.

Flywire (NASDAQ:FLYW - Get Free Report) last posted its quarterly 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, sell-side analysts anticipate that Flywire will post 0.14 earnings per share for the current 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.