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

Key Points

• Jennison Associates increased its stake in Flywire by 35.2% in Q4, acquiring 1,150,802 shares to hold 4,420,633 shares (about 3.62%) valued at roughly $62.6 million, while overall institutional ownership stands near 95.9%.
• Quarterly results notably beat expectations: Flywire reported $105.55 EPS (beating estimates by $105.56) and revenue of $157.54 million, up 34.0% year-over-year.
• The stock trades around $13.51 with a market cap of about $1.64 billion and a P/E of 135.11; analyst sentiment is mixed (six Buys, six Holds, one Sell) with a consensus target of $16.18.

Jennison Associates LLC grew its position in shares of Flywire Corporation (NASDAQ:FLYW - Free Report) by 35.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,420,633 shares of the company's stock after acquiring an additional 1,150,802 shares during the quarter. Jennison Associates LLC owned about 3.62% of Flywire worth $62,596,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of FLYW. Covestor Ltd lifted its position in Flywire by 217.9% in the third quarter. Covestor Ltd now owns 3,233 shares of the company's stock worth $43,000 after buying an additional 2,216 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in Flywire by 78.4% in the second quarter. Daiwa Securities Group Inc. now owns 5,681 shares of the company's stock worth $66,000 after buying an additional 2,497 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in Flywire in the third quarter worth $67,000. Arrowstreet Capital Limited Partnership bought a new stake in Flywire in the second quarter worth $119,000. Finally, Russell Investments Group Ltd. lifted its position in Flywire by 220.8% in the third quarter. Russell Investments Group Ltd. now owns 10,216 shares of the company's stock worth $138,000 after buying an additional 7,031 shares during the last quarter. 95.90% of the stock is currently owned by institutional investors.

Flywire Trading Down 1.2%

NASDAQ:FLYW opened at $13.51 on Friday. Flywire Corporation has a twelve month low of $9.35 and a twelve month high of $15.25. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 135.11, a price-to-earnings-growth ratio of 1.15 and a beta of 1.26. The stock has a fifty day simple moving average of $12.51 and a 200-day simple moving average of $13.10.

Flywire (NASDAQ:FLYW - Get Free Report) last released its earnings results on Tuesday, February 24th. The company reported $105.55 earnings per share for the quarter, topping 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 business had revenue of $157.54 million during the quarter, compared to the consensus estimate of $144.96 million. During the same period last year, the company earned ($0.12) earnings per share. The business's revenue for the quarter was up 34.0% compared to the same quarter last year. As a group, equities research analysts predict that Flywire Corporation will post 0.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on FLYW shares. Wall Street Zen upgraded Flywire from a "hold" rating to a "buy" rating in a research report on Saturday, April 18th. UBS Group lowered their price target on Flywire from $15.50 to $14.00 and set a "neutral" rating for the company in a research report on Wednesday, February 25th. Weiss Ratings restated a "sell (d)" rating on shares of Flywire in a research report on Tuesday, April 21st. Truist Financial lowered their price target on Flywire from $17.00 to $16.00 and set a "buy" rating for the company in a research report on Tuesday, March 3rd. Finally, Royal Bank Of Canada raised their price target on Flywire from $18.00 to $20.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 25th. Six analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $16.18.

Insider Buying and Selling at Flywire

In other Flywire news, major shareholder Voss Capital, Lp bought 25,000 shares of the firm's stock in a transaction dated Friday, February 13th. The stock was acquired at an average cost of $10.99 per share, for a total transaction of $274,750.00. Following the completion of the transaction, the insider owned 2,300,000 shares in the company, valued at $25,277,000. This trade represents a 1.10% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Peter Butterfield sold 9,009 shares of Flywire stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $13.05, for a total value of $117,567.45. Following the sale, the general counsel owned 532,962 shares of the company's stock, valued at approximately $6,955,154.10. This trade represents a 1.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 4.40% of the stock is currently owned by company insiders.

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.

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