Flywire Co. (NASDAQ:FLYW) Short Interest Up 6.9% in October

Flywire Co. (NASDAQ:FLYW) saw a large increase in short interest in October. As of October 15th, there was short interest totalling 6,970,000 shares, an increase 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 presently 6.3 days. Approximately 5.9% of the shares of the stock are short sold.

Insider Activity at Flywire

In related news, General Counsel Peter Butterfield sold 1,769 shares of the company’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 $31,912.76. Following the completion of the sale, the general counsel now owns 273,517 shares of the company’s stock, valued at approximately $4,934,246.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CTO David R. King sold 3,353 shares of the company’s 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Peter Butterfield sold 1,769 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 $31,912.76. Following the transaction, the general counsel now owns 273,517 shares of the company’s stock, valued at approximately $4,934,246.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,966 shares of company stock valued at $480,143. Corporate insiders own 3.90% of the company’s stock.

Institutional Trading of Flywire

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP acquired a new position in shares of Flywire in the second quarter valued at approximately $26,000. Headlands Technologies LLC purchased a new position in Flywire during the 1st quarter worth $46,000. Daiwa Securities Group Inc. acquired a new stake in shares of Flywire in the 2nd quarter worth $64,000. Advisors Asset Management Inc. boosted its holdings in shares of Flywire by 45.6% in the first quarter. Advisors Asset Management Inc. now owns 3,044 shares of the company’s stock valued at $76,000 after acquiring an additional 954 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Flywire during the third quarter worth about $149,000. 95.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. B. Riley restated a “buy” rating and set a $30.00 price target on shares of Flywire in a research note on Wednesday, October 2nd. Citigroup cut their price target on shares of Flywire from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Royal Bank of Canada cut 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 cut shares of Flywire from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $20.00 to $18.00 in a research report on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Flywire from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Four equities 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.07.

Flywire Stock Up 0.5 %

FLYW traded up $0.08 on Friday, reaching $17.50. The company had a trading volume of 119,359 shares, compared to its average volume of 1,375,726. The stock has a market capitalization of $2.19 billion, a PE ratio of -248.86, a P/E/G ratio of 7.72 and a beta of 0.97. Flywire has a 1 year low of $15.19 and a 1 year high of $31.54. The stock has a 50-day moving average price of $17.12 and a 200-day moving average price of $17.58.

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