Flywire Co. (NASDAQ:FLYW – Get Rating) saw a large growth in short interest in July. As of July 31st, there was short interest totalling 2,360,000 shares, a growth of 14.0% from the July 15th total of 2,070,000 shares. Based on an average daily volume of 1,030,000 shares, the short-interest ratio is currently 2.3 days. Approximately 3.3% of the shares of the stock are sold short.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on FLYW. Wells Fargo & Company upped their price objective on shares of Flywire from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Wednesday. Stephens initiated coverage on shares of Flywire in a research report on Thursday, June 9th. They set an “overweight” rating and a $24.00 target price for the company. Raymond James dropped their target price on shares of Flywire from $39.00 to $33.00 in a research report on Wednesday, May 11th. Finally, The Goldman Sachs Group raised shares of Flywire from a “neutral” rating to a “buy” rating and increased their target price for the stock from $26.00 to $30.00 in a research report on Thursday, July 14th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $36.43.
Insiders Place Their Bets
In related news, Director Jo Natauri sold 90,427 shares of the business’s stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $19.16, for a total value of $1,732,581.32. Following the sale, the director now directly owns 3,130,987 shares in the company, valued at approximately $59,989,710.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Phillip John Riese sold 5,000 shares of the business’s stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $19.20, for a total value of $96,000.00. Following the completion of the transaction, the director now owns 7,292 shares of the company’s stock, valued at approximately $140,006.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jo Natauri sold 90,427 shares of the company’s stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $19.16, for a total transaction of $1,732,581.32. Following the transaction, the director now directly owns 3,130,987 shares of the company’s stock, valued at approximately $59,989,710.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,158,864 shares of company stock worth $42,324,817. Corporate insiders own 37.50% of the company’s stock.
Hedge Funds Weigh In On Flywire
Several institutional investors and hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC lifted its stake in Flywire by 226.6% during the second quarter. Nisa Investment Advisors LLC now owns 2,090 shares of the company’s stock worth $37,000 after purchasing an additional 1,450 shares during the last quarter. Premier Fund Managers Ltd lifted its stake in Flywire by 141.1% during the second quarter. Premier Fund Managers Ltd now owns 115,781 shares of the company’s stock worth $42,000 after purchasing an additional 67,760 shares during the last quarter. FourThought Financial LLC lifted its stake in Flywire by 123.3% during the first quarter. FourThought Financial LLC now owns 2,563 shares of the company’s stock worth $78,000 after purchasing an additional 1,415 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Flywire during the second quarter worth $79,000. Finally, UBS Group AG lifted its stake in Flywire by 433.1% during the first quarter. UBS Group AG now owns 3,300 shares of the company’s stock worth $101,000 after purchasing an additional 2,681 shares during the last quarter. 76.06% of the stock is currently owned by hedge funds and other institutional investors.
Flywire Stock Up 5.6 %
NASDAQ FLYW traded up $1.40 on Friday, reaching $26.27. The company had a trading volume of 1,121,398 shares, compared to its average volume of 881,554. The firm has a market capitalization of $2.82 billion, a PE ratio of -75.05 and a beta of 1.81. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.53 and a quick ratio of 4.53. The firm has a 50-day moving average of $20.59 and a 200-day moving average of $24.40. Flywire has a 1 year low of $14.56 and a 1 year high of $57.41.
Flywire (NASDAQ:FLYW – Get Rating) last released its earnings results on Tuesday, August 9th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.05). The business had revenue of $56.40 million for the quarter, compared to analysts’ expectations of $47.61 million. Flywire had a negative net margin of 14.98% and a negative return on equity of 7.29%. The business’s quarterly revenue was up 52.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.16) earnings per share. On average, equities research analysts anticipate that Flywire will post -0.34 EPS for the current fiscal year.
Flywire Company Profile
Flywire Corporation, together with its subsidiaries, operates as a payment enablement and software company in the United States, Canada, and the United Kingdom, and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay.