Jennison Associates LLC Purchases 1,179,562 Shares of Flywire Co. (NASDAQ:FLYW)

Jennison Associates LLC increased its position in Flywire Co. (NASDAQ:FLYW) by 53.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,406,312 shares of the company’s stock after buying an additional 1,179,562 shares during the quarter. Jennison Associates LLC’s holdings in Flywire were worth $70,238,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FLYW. Quarry LP purchased a new position in shares of Flywire in the second quarter valued at about $26,000. Advisors Asset Management Inc. increased its holdings in Flywire by 15.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock valued at $66,000 after purchasing an additional 539 shares during the period. KBC Group NV raised its position in Flywire by 64.0% during the 4th quarter. KBC Group NV now owns 4,899 shares of the company’s stock valued at $101,000 after purchasing an additional 1,911 shares during the last quarter. SG Americas Securities LLC bought a new position in Flywire during the 3rd quarter valued at approximately $149,000. Finally, Algert Global LLC purchased a new stake in Flywire in the 2nd quarter worth approximately $180,000. 95.90% of the stock is currently owned by institutional investors.

Flywire Stock Up 3.2 %

Shares of FLYW opened at $19.95 on Tuesday. Flywire Co. has a 52 week low of $15.19 and a 52 week high of $31.54. The stock has a market cap of $2.48 billion, a P/E ratio of 133.00, a P/E/G ratio of 1.46 and a beta of 1.08. The business’s 50 day moving average price is $20.32 and its 200-day moving average price is $18.84.

Flywire (NASDAQ:FLYW) last released its earnings results on Thursday, November 7th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.16. The firm had revenue of $156.82 million for the quarter, compared to analysts’ expectations of $146.44 million. Flywire had a return on equity of 2.49% and a net margin of 4.23%. During the same period in the prior year, the firm posted $0.08 earnings per share. On average, equities analysts anticipate that Flywire Co. will post 0.14 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their target price on Flywire from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. The Goldman Sachs Group upped their price objective on shares of Flywire from $22.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $25.00 target price on shares of Flywire in a research note on Thursday, January 9th. Wells Fargo & Company cut shares of Flywire from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $20.00 to $18.00 in a research report on Friday, October 11th. Finally, 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. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.38.

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.