Jennison Associates LLC Boosts Holdings in Flywire Co. (NASDAQ:FLYW)

Jennison Associates LLC grew its stake in shares of Flywire Co. (NASDAQ:FLYW) by 129.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,860,951 shares of the company’s stock after buying an additional 1,050,924 shares during the quarter. Jennison Associates LLC owned 1.52% of Flywire worth $46,170,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in FLYW. Quest Partners LLC purchased a new stake in shares of Flywire during the 4th quarter valued at $52,000. RiverPark Advisors LLC raised its position in shares of Flywire by 22.6% during the 4th quarter. RiverPark Advisors LLC now owns 3,195 shares of the company’s stock valued at $74,000 after buying an additional 589 shares in the last quarter. Assetmark Inc. raised its position in shares of Flywire by 16.9% during the 4th quarter. Assetmark Inc. now owns 5,061 shares of the company’s stock valued at $117,000 after buying an additional 733 shares in the last quarter. Handelsinvest Investeringsforvaltning purchased a new stake in shares of Flywire during the 4th quarter valued at $176,000. Finally, OneAscent Financial Services LLC purchased a new stake in shares of Flywire during the 4th quarter valued at $212,000. Hedge funds and other institutional investors own 95.90% of the company’s stock.

Flywire Stock Up 1.7 %

Flywire stock traded up $0.27 during trading hours on Monday, hitting $16.30. The stock had a trading volume of 547,752 shares, compared to its average volume of 1,559,016. The stock has a market capitalization of $2.02 billion, a P/E ratio of -148.17, a price-to-earnings-growth ratio of 28.96 and a beta of 0.98. Flywire Co. has a 12-month low of $15.19 and a 12-month high of $35.80. The stock’s 50-day moving average price is $17.17 and its 200-day moving average price is $20.95.

Flywire (NASDAQ:FLYW) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.01). Flywire had a negative net margin of 2.63% and a negative return on equity of 1.56%. The company had revenue of $114.10 million for the quarter, compared to analysts’ expectations of $107.81 million. During the same period in the previous year, the firm earned ($0.03) earnings per share. The firm’s revenue for the quarter was up 20.9% on a year-over-year basis. On average, research analysts expect that Flywire Co. will post 0.01 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on FLYW shares. BTIG Research reduced their target price on shares of Flywire from $34.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Citigroup reduced their target price on shares of Flywire from $36.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Wedbush reaffirmed a “neutral” rating and set a $18.00 target price on shares of Flywire in a report on Thursday, May 23rd. The Goldman Sachs Group reduced their target price on shares of Flywire from $32.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Finally, Wells Fargo & Company reduced their target price on shares of Flywire from $35.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.86.

About Flywire

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.