Flywire Co. (NASDAQ:FLYW) Short Interest Update

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

Wall Street Analyst Weigh In

Several research firms have weighed in on FLYW. Stephens downgraded shares of Flywire from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $26.00 to $15.00 in a report on Wednesday, February 26th. BTIG Research downgraded Flywire from a "buy" rating to a "neutral" rating in a research report on Wednesday, February 26th. Morgan Stanley lowered their target price on Flywire from $21.00 to $15.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. Seaport Res Ptn cut Flywire from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 14th. Finally, The Goldman Sachs Group decreased their price objective on Flywire from $15.00 to $11.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $17.92.

Insider Activity

In related news, General Counsel Peter Butterfield sold 5,523 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $10.08, for a total value of $55,671.84. Following the completion of the sale, the general counsel now owns 247,561 shares in the company, valued at $2,495,414.88. This trade represents a 2.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gretchen Howard purchased 8,889 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average price of $10.94 per share, for a total transaction of $97,245.66. Following the acquisition, the director now owns 30,770 shares in the company, valued at approximately $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. Insiders own 3.90% of the company's stock.

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Institutional Investors Weigh In On Flywire

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Flywire by 6.9% in the 4th quarter. Vanguard Group Inc. now owns 12,087,221 shares of the company's stock valued at $249,238,000 after purchasing an additional 781,711 shares in the last quarter. FMR LLC increased its position in Flywire by 3.6% during the 3rd quarter. FMR LLC now owns 9,408,098 shares of the company's stock worth $154,199,000 after purchasing an additional 326,120 shares in the last quarter. Jennison Associates LLC raised its holdings in Flywire by 53.0% in the fourth quarter. Jennison Associates LLC now owns 3,406,312 shares of the company's stock valued at $70,238,000 after buying an additional 1,179,562 shares during the period. State Street Corp lifted its position in Flywire by 5.2% during the third quarter. State Street Corp now owns 2,930,906 shares of the company's stock valued at $48,038,000 after buying an additional 145,894 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Flywire by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 2,828,430 shares of the company's stock worth $58,335,000 after buying an additional 28,944 shares during the period. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Flywire Stock Down 0.9 %

Shares of FLYW stock traded down $0.08 during trading hours on Monday, hitting $9.02. 3,963,655 shares of the company were exchanged, compared to its average volume of 1,636,668. The firm has a fifty day moving average of $14.24 and a 200 day moving average of $17.52. Flywire has a 1 year low of $8.62 and a 1 year high of $23.90. The firm has a market cap of $1.11 billion, a PE ratio of 60.13, a PEG ratio of 1.41 and a beta of 1.22.

Flywire (NASDAQ:FLYW - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.11). The company had revenue of $112.80 million during the quarter, compared to analyst estimates of $118.85 million. Flywire had a net margin of 4.23% and a return on equity of 2.49%. Analysts expect 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.