Short Interest in Flywire Co. (NASDAQ:FLYW) Drops By 11.5%

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

Flywire Stock Down 0.2 %

NASDAQ:FLYW traded down $0.04 on Monday, hitting $21.89. The stock had a trading volume of 1,051,808 shares, compared to its average volume of 1,411,239. The business’s 50-day simple moving average is $17.63 and its two-hundred day simple moving average is $17.48. The stock has a market cap of $2.74 billion, a price-to-earnings 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.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on FLYW shares. Deutsche Bank Aktiengesellschaft dropped their price target on Flywire from $25.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. JPMorgan Chase & Co. increased their price target on Flywire from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Raymond James boosted their target price on shares of Flywire from $23.00 to $27.00 and gave the company a “strong-buy” rating in a research report on Friday, November 8th. BTIG Research cut 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. Finally, Citigroup dropped their target price on Flywire from $27.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.86.

Insider Transactions at Flywire

In other Flywire news, COO Rob Orgel sold 3,824 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $17.31, for a total value of $66,193.44. Following the sale, the chief operating officer now owns 473,648 shares in the company, valued at $8,198,846.88. This represents a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Peter Butterfield sold 1,769 shares of the business’s 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 $31,912.76. Following the transaction, the general counsel now directly owns 273,517 shares in the company, valued at $4,934,246.68. The trade was a 0.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,966 shares of company stock worth $480,143 in the last three months. Insiders own 3.90% of the company’s stock.

Institutional Trading of Flywire

Large investors have recently added to or reduced their stakes in the business. Comerica Bank increased its stake in shares of Flywire by 14.8% in the first quarter. Comerica Bank now owns 697,799 shares of the company’s stock worth $17,312,000 after purchasing an additional 90,003 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of Flywire by 139.7% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 118,908 shares of the company’s stock valued at $1,949,000 after purchasing an additional 69,304 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Flywire by 0.9% in the first quarter. Vanguard Group Inc. now owns 10,861,990 shares of the company’s stock worth $269,486,000 after buying an additional 100,704 shares in the last quarter. Ensign Peak Advisors Inc bought a new position in Flywire during the second quarter valued at approximately $734,000. Finally, Primecap Management Co. CA grew its holdings in Flywire by 253.3% during the 2nd quarter. Primecap Management Co. CA now owns 1,962,633 shares of the company’s stock valued at $32,168,000 after buying an additional 1,407,180 shares in the last quarter. 95.90% of the stock is currently owned by institutional investors.

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.