Flywire Co. (NASDAQ:FLYW) Sees Large Drop in Short Interest

Flywire Co. (NASDAQ:FLYW) saw a large decline in short interest in December. As of December 31st, there was short interest totalling 4,390,000 shares, a decline of 7.2% from the December 15th total of 4,730,000 shares. Based on an average trading volume of 1,290,000 shares, the days-to-cover ratio is presently 3.4 days. Approximately 3.7% of the company’s shares are sold short.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Raymond James increased their price target on shares of Flywire from $23.00 to $27.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 8th. Royal Bank of Canada restated an “outperform” rating and issued a $25.00 price target on shares of Flywire in a research note on Thursday, January 9th. B. Riley reaffirmed a “buy” rating and set a $30.00 price objective on shares of Flywire in a research report on Wednesday, October 2nd. The Goldman Sachs Group lifted their target price on Flywire from $22.00 to $27.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Finally, Morgan Stanley upped their price target on Flywire from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.36.

Flywire Trading Down 0.3 %

NASDAQ:FLYW traded down $0.06 during midday trading on Monday, hitting $20.03. 1,026,591 shares of the company were exchanged, compared to its average volume of 1,039,711. Flywire has a fifty-two week low of $15.19 and a fifty-two week high of $31.54. The company has a market capitalization of $2.49 billion, a PE ratio of 133.53, a price-to-earnings-growth ratio of 1.47 and a beta of 1.10. The company has a fifty day simple moving average of $20.99 and a 200 day simple moving average of $18.68.

Institutional Trading of Flywire

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC grew its stake in Flywire by 3.6% during the 3rd 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 grew its position in shares of Flywire by 19.3% during the third quarter. Westfield Capital Management Co. LP now owns 6,226,912 shares of the company’s stock worth $102,059,000 after acquiring an additional 1,006,516 shares during the last quarter. State Street Corp increased its holdings in shares of Flywire by 5.2% in the 3rd 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 during the period. Geode Capital Management LLC raised its position in Flywire by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,799,486 shares of the company’s stock valued at $45,892,000 after purchasing an additional 17,062 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in Flywire by 5.3% during the 3rd quarter. Jennison Associates LLC now owns 2,226,750 shares of the company’s stock worth $36,496,000 after purchasing an additional 112,218 shares during the period. Institutional investors and hedge funds own 95.90% of the company’s stock.

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.