Flywire Co. (NASDAQ:FLYW) Short Interest Down 20.6% in November

Flywire Co. (NASDAQ:FLYW) was the recipient of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 4,900,000 shares, a decline of 20.6% from the October 31st total of 6,170,000 shares. Currently, 4.2% of the shares of the company are short sold. Based on an average trading volume of 1,190,000 shares, the short-interest ratio is currently 4.1 days.

Insiders Place Their Bets

In related news, General Counsel Peter Butterfield sold 1,769 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $31,912.76. Following the completion of the sale, the general counsel now owns 273,517 shares in the company, valued at approximately $4,934,246.68. This trade represents a 0.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO David R. King sold 3,353 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $18.04, for a total value of $60,488.12. Following the transaction, the chief technology officer now owns 620,184 shares in the company, valued at $11,188,119.36. This represents a 0.54 % 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 valued at $480,143 in the last quarter. Insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Flywire

A number of institutional investors and hedge funds have recently made changes to their positions in the company. William Blair Investment Management LLC lifted its holdings in Flywire by 125.1% in the second 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 during the period. Primecap Management Co. CA raised its position in shares of 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 acquiring an additional 1,407,180 shares during the last quarter. Westfield Capital Management Co. LP lifted its stake in shares of Flywire by 19.3% in the 3rd 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 during the period. Point72 Asset Management L.P. bought a new position in shares of Flywire in the 2nd quarter worth $12,642,000. Finally, Blair William & Co. IL grew its stake in shares of Flywire by 33.4% during the second quarter. Blair William & Co. IL now owns 1,810,719 shares of the company’s stock worth $29,678,000 after purchasing an additional 453,183 shares during the period. Institutional investors own 95.90% of the company’s stock.

Flywire Price Performance

Shares of FLYW stock traded down $0.59 during trading hours on Friday, reaching $22.71. 854,150 shares of the company were exchanged, compared to its average volume of 1,410,809. Flywire has a fifty-two week low of $15.19 and a fifty-two week high of $31.54. The stock’s fifty day moving average is $18.70 and its two-hundred day moving average is $17.77. The company has a market cap of $2.83 billion, a price-to-earnings ratio of 151.40, a P/E/G ratio of 4.49 and a beta of 0.95.

Wall Street Analyst Weigh In

A number of research analysts recently commented on FLYW shares. B. Riley restated a “buy” rating and issued a $30.00 target price on shares of Flywire in a research note on Wednesday, October 2nd. Morgan Stanley raised their price objective on shares of Flywire from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. BTIG Research lowered their target price on shares of Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Citigroup cut their price target on shares of Flywire from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Flywire from $25.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Four 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $24.86.

Flywire Company Profile

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.