Flywire Co. (NASDAQ:FLYW) Short Interest Down 7.2% in December

Flywire Co. (NASDAQ:FLYW) was the recipient of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 4,390,000 shares, a decrease of 7.2% from the December 15th total of 4,730,000 shares. Based on an average daily trading volume, of 1,290,000 shares, the days-to-cover ratio is presently 3.4 days. Currently, 3.7% of the company’s stock are short sold.

Institutional Investors Weigh In On Flywire

Hedge funds have recently modified their holdings of the stock. FMR LLC lifted its position in Flywire by 3.6% in the third quarter. FMR LLC now owns 9,408,098 shares of the company’s stock valued at $154,199,000 after purchasing an additional 326,120 shares during the period. Westfield Capital Management Co. LP lifted its holdings 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 buying an additional 1,006,516 shares during the period. State Street Corp boosted its stake in shares of Flywire by 5.2% in the third quarter. State Street Corp now owns 2,930,906 shares of the company’s stock valued at $48,038,000 after buying an additional 145,894 shares in the last quarter. Geode Capital Management LLC grew its holdings in Flywire by 0.6% during the third quarter. Geode Capital Management LLC now owns 2,799,486 shares of the company’s stock worth $45,892,000 after acquiring an additional 17,062 shares during the period. Finally, Jennison Associates LLC lifted its holdings in Flywire by 5.3% in the third quarter. Jennison Associates LLC now owns 2,226,750 shares of the company’s stock valued at $36,496,000 after acquiring an additional 112,218 shares during the period. 95.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FLYW has been the topic of a number of recent analyst reports. Raymond James increased their price objective on Flywire from $23.00 to $27.00 and gave the company a “strong-buy” rating in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Flywire from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Seaport Res Ptn downgraded shares of Flywire from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. The Goldman Sachs Group increased their target price on shares of Flywire from $22.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $25.00 price target on shares of Flywire in a research report on Thursday, January 9th. Five 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 stock. According to data from MarketBeat.com, Flywire currently has an average rating of “Moderate Buy” and an average target price of $25.36.

Flywire Stock Down 0.3 %

FLYW traded down $0.06 on Friday, hitting $20.03. 1,026,591 shares of the company traded hands, compared to its average volume of 1,039,711. The company has a 50 day moving average of $20.99 and a 200-day moving average of $18.68. Flywire has a 12-month low of $15.19 and a 12-month high of $31.54. The stock has a market capitalization of $2.49 billion, a PE ratio of 133.53, a PEG ratio of 1.47 and a beta of 1.10.

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.