Short Interest in Flywire Co. (NASDAQ:FLYW) Rises By 6.9%

Flywire Co. (NASDAQ:FLYW) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 6,970,000 shares, a growth of 6.9% from the September 30th total of 6,520,000 shares. Based on an average trading volume of 1,110,000 shares, the short-interest ratio is currently 6.3 days. Approximately 5.9% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FLYW. BTIG Research decreased their price objective on Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Royal Bank of Canada dropped their price objective 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. Citigroup dropped their price objective on Flywire from $27.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reduced their target price on Flywire from $25.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, Wells Fargo & Company cut shares of Flywire from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $20.00 to $18.00 in a research note on Friday, October 11th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Flywire presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.07.

Flywire Stock Down 0.3 %

Shares of NASDAQ:FLYW traded down $0.06 on Friday, reaching $17.36. 400,649 shares of the company’s stock were exchanged, compared to its average volume of 1,376,921. Flywire has a fifty-two week low of $15.19 and a fifty-two week high of $31.54. The business’s 50-day moving average is $17.12 and its two-hundred day moving average is $17.58. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of -247.43, a PEG ratio of 7.72 and a beta of 0.97.

Flywire (NASDAQ:FLYW) last issued its earnings results on Tuesday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The business had revenue of $103.68 million during the quarter, compared to the consensus estimate 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 period in the prior year, the business earned ($0.15) EPS. Analysts predict that Flywire will post 0.05 earnings per share for the current fiscal year.

Insider Activity at Flywire

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

Hedge Funds Weigh In On Flywire

Several institutional investors have recently modified their holdings of the company. Lisanti Capital Growth LLC bought a new position in shares of Flywire during the 1st quarter valued at about $4,274,000. Comerica Bank raised its position in shares of Flywire by 14.8% during the first quarter. Comerica Bank now owns 697,799 shares of the company’s stock worth $17,312,000 after purchasing an additional 90,003 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in shares of Flywire by 139.7% during the second quarter. Harbor Capital Advisors Inc. now owns 118,908 shares of the company’s stock valued at $1,949,000 after purchasing an additional 69,304 shares during the last quarter. Vanguard Group Inc. increased its stake in Flywire by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 10,861,990 shares of the company’s stock worth $269,486,000 after purchasing an additional 100,704 shares in the last quarter. Finally, Ensign Peak Advisors Inc purchased a new stake in Flywire during the second quarter valued at about $734,000. Institutional investors own 95.90% of the company’s stock.

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.