Short Interest in Flywire Co. (NASDAQ:FLYW) Declines By 49.2%

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. UBS Group cut Flywire from a “buy” rating to a “neutral” rating and lowered their target price for the company from $25.00 to $15.00 in a research note on Wednesday, February 26th. Morgan Stanley cut their price objective on shares of Flywire from $21.00 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Royal Bank of Canada lowered their target price on shares of Flywire from $25.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft downgraded Flywire from a “buy” rating to a “hold” rating and dropped their target price for the stock from $26.00 to $16.00 in a report on Wednesday, February 26th. Finally, Raymond James lowered Flywire from a “strong-buy” rating to an “outperform” rating and lowered their price target for the stock from $29.00 to $17.00 in a research report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $19.23.

Insider Activity at Flywire

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Curi RMB Capital LLC bought a new stake in Flywire during the third quarter valued at about $1,143,000. Quest Partners LLC lifted its stake in shares of Flywire by 575.1% during the 3rd quarter. Quest Partners LLC now owns 14,622 shares of the company’s stock valued at $240,000 after buying an additional 12,456 shares in the last quarter. Avior Wealth Management LLC boosted its holdings in Flywire by 17.0% in the 3rd quarter. Avior Wealth Management LLC now owns 23,647 shares of the company’s stock worth $388,000 after buying an additional 3,433 shares during the period. Jennison Associates LLC increased its stake in Flywire by 5.3% in the 3rd quarter. Jennison Associates LLC now owns 2,226,750 shares of the company’s stock worth $36,496,000 after buying an additional 112,218 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in Flywire by 15.4% during the third quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock valued at $66,000 after acquiring an additional 539 shares during the period. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Flywire Trading Up 4.4 %

NASDAQ:FLYW traded up $0.44 during trading hours on Friday, reaching $10.54. The company had a trading volume of 1,584,813 shares, compared to its average volume of 2,499,111. The firm’s 50 day moving average price is $17.04 and its 200-day moving average price is $18.33. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 70.27, a PEG ratio of 1.41 and a beta of 1.17. Flywire has a 52 week low of $8.62 and a 52 week high of $26.15.

Flywire (NASDAQ:FLYW) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.11). Flywire had a net margin of 4.23% and a return on equity of 2.49%. The firm had revenue of $112.80 million for the quarter, compared to the consensus estimate of $118.85 million. On average, analysts forecast that Flywire will post 0.14 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.