Short Interest in Flywire Co. (NASDAQ:FLYW) Increases By 19.6%

Flywire Co. (NASDAQ:FLYW - Get Free Report) saw a significant increase in short interest in April. As of April 15th, there was short interest totalling 4,020,000 shares, an increase of 19.6% from the March 31st total of 3,360,000 shares. Currently, 3.6% of the company's stock are short sold. Based on an average daily trading volume, of 2,830,000 shares, the short-interest ratio is presently 1.4 days.

Insider Buying and Selling at Flywire

In related news, General Counsel Peter Butterfield sold 5,523 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $10.08, for a total transaction of $55,671.84. Following the completion of the transaction, the general counsel now owns 247,561 shares in the company, valued at $2,495,414.88. This trade represents a 2.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gretchen Howard bought 8,889 shares of Flywire stock in a transaction dated Thursday, February 27th. The stock was acquired at an average cost of $10.94 per share, for a total transaction of $97,245.66. Following the completion of the acquisition, the director now directly owns 30,770 shares in the company, valued at $336,623.80. This represents a 40.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 3.90% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Global Retirement Partners LLC bought a new position in shares of Flywire during the 4th quarter valued at approximately $30,000. Arcadia Investment Management Corp MI purchased a new position in Flywire in the 4th quarter worth about $48,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Flywire during the 4th quarter valued at about $77,000. KBC Group NV boosted its position in Flywire by 64.0% in the 4th quarter. KBC Group NV now owns 4,899 shares of the company's stock valued at $101,000 after buying an additional 1,911 shares during the period. Finally, Venturi Wealth Management LLC bought a new position in Flywire in the 4th quarter worth about $104,000. 95.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on FLYW shares. B. Riley reiterated a "buy" rating and issued a $17.00 target price (down from $29.00) on shares of Flywire in a report on Friday, May 2nd. Stephens downgraded Flywire from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $26.00 to $15.00 in a report on Wednesday, February 26th. BTIG Research lowered Flywire from a "buy" rating to a "neutral" rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $9.00 price objective (down previously from $16.00) on shares of Flywire in a report on Monday, April 14th. Finally, Citigroup dropped their price target on shares of Flywire from $26.00 to $13.00 and set a "buy" rating for the company in a research report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $15.54.

Flywire Stock Performance

Shares of FLYW traded up $0.19 on Thursday, reaching $11.09. The stock had a trading volume of 280,649 shares, compared to its average volume of 1,756,603. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 73.93, a price-to-earnings-growth ratio of 1.41 and a beta of 1.22. The company has a 50-day simple moving average of $9.56 and a 200-day simple moving average of $16.21. Flywire has a 12-month low of $8.20 and a 12-month high of $23.40.

Flywire (NASDAQ:FLYW - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.02. The company had revenue of $128.70 million during the quarter, compared to analyst estimates of $124.18 million. Flywire had a return on equity of 2.49% and a net margin of 4.23%. The firm's revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.05) EPS. On average, analysts expect that Flywire will post 0.14 EPS for the current fiscal year.

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.