Jennison Associates LLC Purchases 1,150,802 Shares of Flywire Corporation $FLYW

Jennison Associates LLC lifted its position in Flywire Corporation (NASDAQ:FLYW) by 35.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 4,420,633 shares of the company’s stock after buying an additional 1,150,802 shares during the period. Jennison Associates LLC’s holdings in Flywire were worth $62,596,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP raised its holdings in shares of Flywire by 173.3% in the third quarter. Wellington Management Group LLP now owns 3,358,186 shares of the company’s stock valued at $45,470,000 after acquiring an additional 2,129,514 shares in the last quarter. Mangrove Partners IM LLC bought a new stake in shares of Flywire in the third quarter valued at about $39,289,000. Marshall Wace LLP raised its holdings in shares of Flywire by 32.8% in the third quarter. Marshall Wace LLP now owns 1,851,327 shares of the company’s stock valued at $25,067,000 after acquiring an additional 456,783 shares in the last quarter. Primecap Management Co. CA raised its holdings in shares of Flywire by 0.5% in the third quarter. Primecap Management Co. CA now owns 1,545,240 shares of the company’s stock valued at $20,923,000 after acquiring an additional 8,000 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Flywire by 1.6% in the third quarter. Franklin Resources Inc. now owns 1,388,639 shares of the company’s stock valued at $18,802,000 after acquiring an additional 22,188 shares in the last quarter. 95.90% of the stock is currently owned by institutional investors.

Insider Activity

In other Flywire news, General Counsel Peter Butterfield sold 9,009 shares of Flywire stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $13.05, for a total value of $117,567.45. Following the transaction, the general counsel owned 532,962 shares in the company, valued at $6,955,154.10. The trade was a 1.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Voss Capital, Lp bought 25,000 shares of the business’s stock in a transaction on Friday, February 13th. The stock was bought at an average price of $10.99 per share, for a total transaction of $274,750.00. Following the purchase, the insider directly owned 2,300,000 shares of the company’s stock, valued at $25,277,000. The trade was a 1.10% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 4.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

FLYW has been the subject of several recent research reports. B. Riley Financial lifted their price objective on Flywire from $15.00 to $20.00 and gave the company a “buy” rating in a report on Friday, January 9th. Truist Financial decreased their price objective on Flywire from $17.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Wall Street Zen upgraded Flywire from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. Morgan Stanley upgraded Flywire from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $15.00 to $17.00 in a report on Monday, March 2nd. Finally, The Goldman Sachs Group cut their target price on Flywire from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 25th. Six investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $16.18.

Flywire Price Performance

FLYW opened at $13.51 on Friday. The business’s 50-day moving average is $12.51 and its two-hundred day moving average is $13.10. Flywire Corporation has a 1 year low of $9.35 and a 1 year high of $15.25. The firm has a market capitalization of $1.64 billion, a PE ratio of 135.11, a price-to-earnings-growth ratio of 1.15 and a beta of 1.26.

Flywire (NASDAQ:FLYW) last posted its earnings results on Tuesday, February 24th. The company reported $105.55 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $105.56. Flywire had a return on equity of 2.76% and a net margin of 2.17%.The company had revenue of $157.54 million for the quarter, compared to analyst estimates of $144.96 million. During the same quarter in the previous year, the firm earned ($0.12) earnings per share. The firm’s quarterly revenue was up 34.0% compared to the same quarter last year. As a group, sell-side analysts expect that Flywire Corporation will post 0.35 EPS for the current year.

Flywire Company Profile

Flywire Corp (NASDAQ: FLYW) is a global payments enablement and software company that specializes in facilitating complex cross-border transactions. Its cloud-based platform streamlines receivables and payer workflows across key verticals including education, healthcare, travel and hospitality, and commercial services. Flywire’s technology integrates with institutional systems to automate payment posting, reconciliation and reporting, aiming to improve the payer experience and accelerate cash flow for its clients.

Founded in 2009 by entrepreneur Iker Marcaide as peerTransfer, the company rebranded as Flywire in 2015.