Jennison Associates LLC Has $61.68 Million Stock Holdings in Flywire Corporation $FLYW

Key Points

• Jennison Associates LLC boosted its Flywire stake by 19.9% in the first quarter, ending with 5,298,881 shares valued at about $61.68 million, or roughly 4.37% of the company.
• Insiders have been selling shares, including director Phillip John Riese and insider Mohit Kansal; altogether, insiders sold 410,391 shares worth about $6.7 million over the last three months.
• Analysts remain cautiously positive: Flywire has a consensus “Moderate Buy” rating with a $18.77 price target, while recent moves included both upgrades and downgrades from major brokerages.

Jennison Associates LLC grew its position in Flywire Corporation (NASDAQ:FLYW - Free Report) by 19.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,298,881 shares of the company's stock after purchasing an additional 878,248 shares during the quarter. Jennison Associates LLC owned approximately 4.37% of Flywire worth $61,679,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Global Retirement Partners LLC acquired a new position in Flywire in the 4th quarter valued at $32,000. Leonteq Securities AG raised its holdings in Flywire by 267.6% in the 1st quarter. Leonteq Securities AG now owns 3,540 shares of the company's stock worth $41,000 after acquiring an additional 2,577 shares during the period. Daiwa Securities Group Inc. lifted its position in Flywire by 78.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company's stock worth $66,000 after acquiring an additional 2,497 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. acquired a new position in Flywire during the 1st quarter worth $92,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Flywire during the second quarter valued at about $119,000. 95.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Flywire

In related news, Director Phillip John Riese sold 5,000 shares of the company's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $15.43, for a total value of $77,150.00. Following the completion of the transaction, the director directly owned 234,493 shares in the company, valued at approximately $3,618,226.99. This represents a 2.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mohit Kansal sold 3,650 shares of the firm's stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $16.96, for a total value of $61,904.00. Following the completion of the transaction, the insider directly owned 500,670 shares of the company's stock, valued at approximately $8,491,363.20. This trade represents a 0.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 410,391 shares of company stock worth $6,700,493 in the last three months. Company insiders own 5.00% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FLYW. JPMorgan Chase & Co. raised Flywire from an "underweight" rating to a "neutral" rating and raised their price target for the company from $14.00 to $16.00 in a research report on Thursday, May 21st. Wall Street Zen cut Flywire from a "buy" rating to a "hold" rating in a research report on Saturday, June 20th. Zacks Research downgraded Flywire from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 10th. Deutsche Bank Aktiengesellschaft raised Flywire to an "outperform" rating in a report on Wednesday, May 27th. Finally, New Street Research set a $16.00 price target on Flywire in a research report on Thursday, May 21st. Nine equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.77.

Flywire Stock Performance

NASDAQ FLYW opened at $18.13 on Monday. Flywire Corporation has a twelve month low of $10.10 and a twelve month high of $18.98. The stock has a market cap of $2.24 billion, a PE ratio of 78.83, a PEG ratio of 1.85 and a beta of 1.32. The firm has a 50-day simple moving average of $16.42 and a 200 day simple moving average of $14.11.

Flywire (NASDAQ:FLYW - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.07. The firm had revenue of $184.00 million for the quarter, compared to analyst estimates of $170.24 million. Flywire had a return on equity of 3.78% and a net margin of 4.45%.The company's quarterly revenue was up 40.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.03) earnings per share. Research analysts forecast that Flywire Corporation will post 0.28 earnings per share for the current fiscal year.

About Flywire

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.

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