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

Flywire Co. (NASDAQ:FLYW) saw a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 6,970,000 shares, a growth of 6.9% from the September 30th total of 6,520,000 shares. Currently, 5.9% of the company’s shares are sold short. Based on an average daily trading volume, of 1,110,000 shares, the days-to-cover ratio is presently 6.3 days.

Insider Buying and Selling at Flywire

In related news, CTO David R. King sold 3,353 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total transaction of $60,488.12. Following the sale, the chief technology officer now directly 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, General Counsel Peter Butterfield sold 1,769 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO David R. King sold 3,353 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $60,488.12. Following the completion of the transaction, the chief technology officer now directly owns 620,184 shares of the company’s stock, valued at $11,188,119.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,966 shares of company stock valued at $480,143 over the last 90 days. 3.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Olympiad Research LP bought a new stake in shares of Flywire during the third quarter valued at approximately $206,000. Harbor Capital Advisors Inc. increased its position in Flywire by 87.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 223,244 shares of the company’s stock valued at $3,659,000 after acquiring an additional 104,336 shares during the period. Values First Advisors Inc. raised its stake in Flywire by 13.6% during the 3rd quarter. Values First Advisors Inc. now owns 31,747 shares of the company’s stock valued at $520,000 after acquiring an additional 3,805 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Flywire during the 3rd quarter worth $4,843,000. Finally, Creative Planning grew its stake in shares of Flywire by 36.5% in the third quarter. Creative Planning now owns 29,685 shares of the company’s stock worth $487,000 after purchasing an additional 7,940 shares in the last quarter. 95.90% of the stock is owned by institutional investors and hedge funds.

Flywire Price Performance

Shares of FLYW stock traded down $0.15 on Friday, hitting $17.27. 354,341 shares of the stock traded hands, compared to its average volume of 1,376,834. The company has a market capitalization of $2.16 billion, a PE ratio of -250.00, a PEG 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 company’s fifty day moving average is $17.12 and its 200 day moving average is $17.58.

Flywire (NASDAQ:FLYW) last announced its quarterly earnings data 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 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 the consensus estimate of $100.30 million. During the same period in the prior year, the company earned ($0.15) EPS. Flywire’s quarterly revenue was up 22.2% on a year-over-year basis. As a group, equities research analysts expect that Flywire will post 0.05 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Citigroup dropped their price objective on Flywire from $27.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price objective 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. Royal Bank of Canada cut their target price on Flywire from $34.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. BTIG Research reduced their price objective on shares of Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Flywire from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Flywire presently has a consensus rating of “Moderate Buy” and an average price target of $26.07.

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.