Flywire Co. (NASDAQ:FLYW) Short Interest Update

Flywire Co. (NASDAQ:FLYW) saw a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 6,520,000 shares, a decrease of 6.5% from the September 15th total of 6,970,000 shares. Based on an average daily trading volume, of 1,160,000 shares, the short-interest ratio is currently 5.6 days. Currently, 5.5% of the company’s stock are short sold.

Insiders Place Their Bets

In other Flywire news, COO Rob Orgel sold 3,824 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $17.31, for a total transaction of $66,193.44. Following the completion of the sale, the chief operating officer now owns 473,648 shares in the company, valued at $8,198,846.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Rob Orgel sold 3,824 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $17.31, for a total transaction of $66,193.44. Following the completion of the sale, the chief operating officer now owns 473,648 shares in the company, valued at approximately $8,198,846.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Peter Butterfield sold 1,769 shares of the stock in a transaction on Tuesday, September 3rd. The shares were 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,966 shares of company stock worth $480,143 over the last 90 days. Company insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Flywire

A number of institutional investors have recently modified their holdings of the business. Creative Planning grew its position in shares of Flywire by 36.5% during the 3rd quarter. Creative Planning now owns 29,685 shares of the company’s stock valued at $487,000 after acquiring an additional 7,940 shares during the period. Handelsbanken Fonder AB grew its position in shares of Flywire by 26.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 26,300 shares of the company’s stock valued at $431,000 after acquiring an additional 5,500 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Flywire during the 3rd quarter valued at about $149,000. Truist Financial Corp lifted its stake in Flywire by 6.2% in the 2nd quarter. Truist Financial Corp now owns 19,434 shares of the company’s stock valued at $319,000 after buying an additional 1,128 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in Flywire in the 2nd quarter valued at about $12,642,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FLYW has been the subject of several analyst reports. 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. Wells Fargo & Company downgraded Flywire from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $20.00 to $18.00 in a research report on Friday, October 11th. JPMorgan Chase & Co. upped their target price on Flywire from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. B. Riley reissued a “buy” rating and issued a $30.00 target price on shares of Flywire in a research report on Wednesday, October 2nd. Finally, Citigroup cut their target price on Flywire from $27.00 to $25.00 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 issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.07.

Flywire Trading Down 1.8 %

FLYW traded down $0.30 during midday trading on Thursday, hitting $16.84. 244,643 shares of the company were exchanged, compared to its average volume of 1,412,600. The company’s 50 day simple moving average is $17.15 and its 200 day simple moving average is $17.98. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of -152.00, a price-to-earnings-growth ratio of 6.94 and a beta of 0.97. Flywire has a 1-year low of $15.19 and a 1-year high of $31.54.

Flywire (NASDAQ:FLYW) last posted its earnings results on Tuesday, August 6th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). Flywire had a negative net margin of 1.85% and a negative return on equity of 1.03%. The business had revenue of $103.68 million for the quarter, compared to analyst estimates of $100.30 million. During the same quarter last year, the business earned ($0.15) earnings per share. Flywire’s revenue was up 22.2% on a year-over-year basis. On average, equities analysts anticipate that Flywire will post 0.05 EPS for the current year.

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.