Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Flywire Corporation shares valued at $377,919 were sold by Massaro Michael on Aug 30. At $32.99 per share, Massaro Michael sold 11,457 shares. The insider’s holdings dropped to 1,054,339 shares worth approximately $36.46 million following the completion of this transaction.
Also, Massaro Michael sold 11,457 shares, netting a total of over 366,016 in proceeds. Following the sale of shares at $31.95 each, the insider now holds 1,065,796 shares.
Before that, Butterfield Peter had sold 11,232 shares from its account. In a trade valued at $348,589, the General Counsel and CCO traded Flywire Corporation shares for $31.04 each. Upon closing the transaction, the insider’s holdings decreased to 11,232 shares, worth approximately $3.79 million.
As published in their initiating research note from B. Riley Securities on June 23, 2023, Flywire Corporation [FLYW] has been a Buy and the price target has been revised to $38. This represents a 9.0% premium over Thursday’s closing price.
Analyzing FLYW Stock Performance
On Thursday, Flywire Corporation [NASDAQ: FLYW] rose 2.46% to $34.58. The stock’s lowest price that day was $33.70, but it reached a high of $34.97 in the same session. During the last five days, there has been a surge of approximately 10.06%. Over the course of the year, Flywire Corporation shares have jumped approximately 41.32%. Shares of the company reached a 52-week high of $35.80 on 08/09/23 and a 52-week low of $22.47 on 01/03/23. A 50-day SMA is recorded $31.94, while a 200-day SMA reached $27.96. Nevertheless, trading volume fell to 0.7 million shares from 0.75 million shares the previous day.
Support And Resistance Levels for Flywire Corporation (FLYW)
According to the 24-hour chart, there is a support level at 33.86, which, if violated, would cause prices to drop to 33.15. In the upper region, resistance lies at 35.13. The next price resistance is at 35.69. RSI (Relative Strength Index) is 64.41 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.90, which suggests the price will increase in the coming days. Percent R is at 7.57%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Flywire Corporation subject to short interest?
Stocks of Flywire Corporation saw a sharp rise in short interest on Aug 14, 2023 jumping by 1.16 million shares to 4.87 million. Data from Yahoo Finance shows that the short interest on Jul 13, 2023 was 3.71 million shares. A jump of 23.82% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.16 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.16.
Which companies own the most shares of Flywire Corporation (FLYW)?
According to Temasek Holdings Pte Ltd. filings, the company currently owns 10,635,573 shares, which is about 9.77% of the total FLYW shares outstanding. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $306,688,087. AllianceBernstein LP reduced a -5.54% interest valued at $184.83 million while BlackRock Fund Advisors purchased a 1,920,388 stake. A total of 43,438 shares of Flywire Corporation were bought by Eventide Asset Management LLC during the quarter, and 881,097 were bought by Weatherbie Capital LLC. In its current portfolio, Westfield Capital Management Co. holds 3,186,118 shares valued at $108.77 million.