Flywire Co. (NASDAQ:FLYW) Short Interest Update

Flywire Co. (NASDAQ:FLYW) saw a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 6,170,000 shares, a drop of 11.5% from the October 15th total of 6,970,000 shares. Based on an average daily trading volume, of 1,090,000 shares, the days-to-cover ratio is presently 5.7 days. Approximately 5.2% of the company’s stock are short sold.

Insider Buying and Selling at Flywire

In other Flywire news, COO Rob Orgel sold 4,552 shares of the business’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 $82,118.08. Following the sale, the chief operating officer now owns 477,472 shares of the company’s stock, valued at approximately $8,613,594.88. The trade was a 0.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO David R. King sold 3,353 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction 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 approximately $11,188,119.36. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,966 shares of company stock worth $480,143. 3.90% of the stock is owned by insiders.

Institutional Trading of Flywire

Institutional investors have recently bought and sold shares of the business. William Blair Investment Management LLC lifted its position in shares of Flywire by 125.1% during the 2nd quarter. William Blair Investment Management LLC now owns 11,731,790 shares of the company’s stock valued at $192,284,000 after buying an additional 6,519,598 shares in the last quarter. Primecap Management Co. CA raised its position in Flywire by 253.3% during the second quarter. Primecap Management Co. CA now owns 1,962,633 shares of the company’s stock worth $32,168,000 after acquiring an additional 1,407,180 shares during the period. Westfield Capital Management Co. LP lifted its holdings 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 purchasing an additional 1,006,516 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Flywire during the second quarter valued at $12,642,000. Finally, Blair William & Co. IL grew its position in shares of Flywire by 33.4% in the second quarter. Blair William & Co. IL now owns 1,810,719 shares of the company’s stock valued at $29,678,000 after purchasing an additional 453,183 shares during the period. 95.90% of the stock is owned by institutional investors and hedge funds.

Flywire Stock Up 0.7 %

NASDAQ:FLYW opened at $21.93 on Friday. The stock has a market capitalization of $2.75 billion, a PE ratio of 146.20, a price-to-earnings-growth ratio of 4.23 and a beta of 0.95. Flywire has a 52 week low of $15.19 and a 52 week high of $31.54. The stock’s 50-day moving average price is $17.63 and its 200-day moving average price is $17.50.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FLYW. Royal Bank of Canada cut their price objective on Flywire from $34.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. JPMorgan Chase & Co. raised their price target on shares of Flywire from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Morgan Stanley upped their price objective on shares of Flywire from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. BTIG Research reduced their target price on shares of Flywire from $27.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, Wells Fargo & Company lowered shares of Flywire from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $20.00 to $18.00 in a report on Friday, October 11th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.