Flywire Co. (NASDAQ:FLYW) Short Interest Update

Flywire Co. (NASDAQ:FLYW) was the target of a significant drop in short interest in November. As of November 15th, there was short interest totalling 4,900,000 shares, a drop of 20.6% from the October 31st total of 6,170,000 shares. Based on an average daily trading volume, of 1,190,000 shares, the days-to-cover ratio is presently 4.1 days. Currently, 4.2% of the company’s stock are sold short.

Flywire Stock Down 2.5 %

Shares of FLYW traded down $0.59 during mid-day trading on Friday, reaching $22.71. The company’s stock had a trading volume of 854,150 shares, compared to its average volume of 1,410,809. The company has a market cap of $2.83 billion, a price-to-earnings ratio of 151.40, a price-to-earnings-growth ratio of 4.49 and a beta of 0.95. Flywire has a 1 year low of $15.19 and a 1 year high of $31.54. The business has a fifty day moving average of $18.70 and a 200 day moving average of $17.77.

Insider Transactions at Flywire

In other Flywire news, CEO Michael Massaro sold 8,629 shares of Flywire 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 $155,667.16. Following the completion of the transaction, the chief executive officer now directly owns 1,739,351 shares in the company, valued at $31,377,892.04. The trade was a 0.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Rob Orgel sold 4,552 shares of the 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 $82,118.08. Following the sale, the chief operating officer now owns 477,472 shares in the company, valued at $8,613,594.88. The trade was a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,966 shares of company stock valued at $480,143. 3.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Flywire

Several institutional investors and hedge funds have recently bought and sold shares of the business. William Blair Investment Management LLC boosted its position in Flywire by 125.1% during the second quarter. William Blair Investment Management LLC now owns 11,731,790 shares of the company’s stock valued at $192,284,000 after purchasing an additional 6,519,598 shares during the last quarter. FMR LLC increased its holdings in Flywire by 3.6% in the third quarter. FMR LLC now owns 9,408,098 shares of the company’s stock worth $154,199,000 after buying an additional 326,120 shares during the last quarter. Westfield Capital Management Co. LP raised its position in Flywire by 19.3% during the third quarter. Westfield Capital Management Co. LP now owns 6,226,912 shares of the company’s stock valued at $102,059,000 after acquiring an additional 1,006,516 shares in the last quarter. State Street Corp raised 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 acquiring an additional 145,894 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Flywire by 0.6% in the third quarter. Geode Capital Management LLC now owns 2,799,486 shares of the company’s stock valued at $45,892,000 after acquiring an additional 17,062 shares during the last quarter. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Flywire from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft reduced their price objective on Flywire from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Royal Bank of Canada lowered their target price on Flywire from $34.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Morgan Stanley boosted their price target on Flywire from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Finally, BTIG Research lowered their price target on Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Four 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $24.86.

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.