Flywire Co. (NASDAQ:FLYW) Position Increased by Jennison Associates LLC

Jennison Associates LLC lifted its position in shares of Flywire Co. (NASDAQ:FLYW - Free Report) by 53.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,406,312 shares of the company's stock after acquiring an additional 1,179,562 shares during the period. Jennison Associates LLC owned about 2.74% of Flywire worth $70,238,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in FLYW. Geode Capital Management LLC increased its stake in Flywire by 0.6% during the third quarter. Geode Capital Management LLC now owns 2,799,486 shares of the company's stock valued at $45,892,000 after purchasing an additional 17,062 shares during the last quarter. Curi RMB Capital LLC bought a new stake in shares of Flywire during the 3rd quarter valued at about $1,143,000. FMR LLC lifted its holdings in Flywire by 3.6% in the third quarter. FMR LLC now owns 9,408,098 shares of the company's stock worth $154,199,000 after acquiring an additional 326,120 shares during the last quarter. Westfield Capital Management Co. LP lifted its holdings in Flywire by 19.3% in the third quarter. Westfield Capital Management Co. LP now owns 6,226,912 shares of the company's stock worth $102,059,000 after acquiring an additional 1,006,516 shares during the last quarter. Finally, Barclays PLC boosted its stake in Flywire by 361.4% in the third quarter. Barclays PLC now owns 197,493 shares of the company's stock valued at $3,236,000 after acquiring an additional 154,694 shares during the period. 95.90% of the stock is currently owned by institutional investors.

Flywire Stock Performance

Shares of FLYW stock traded up $0.20 during mid-day trading on Friday, hitting $20.40. 787,189 shares of the stock traded hands, compared to its average volume of 1,428,292. Flywire Co. has a twelve month low of $15.19 and a twelve month high of $31.54. The company's 50-day simple moving average is $20.09 and its 200-day simple moving average is $18.89. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 136.00, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08.

Flywire (NASDAQ:FLYW - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.14 by $0.16. Flywire had a net margin of 4.23% and a return on equity of 2.49%. The firm had revenue of $156.82 million for the quarter, compared to analysts' expectations of $146.44 million. During the same period in the previous year, the business earned $0.08 earnings per share. Analysts forecast that Flywire Co. will post 0.14 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Royal Bank of Canada reissued an "outperform" rating and issued a $25.00 price target on shares of Flywire in a report on Thursday, January 9th. Raymond James boosted their price target on shares of Flywire from $23.00 to $27.00 and gave the company a "strong-buy" rating in a report on Friday, November 8th. Citigroup lowered their price target on shares of Flywire from $27.00 to $26.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. Morgan Stanley lifted their price objective on shares of Flywire from $20.00 to $21.00 and gave the company an "equal weight" rating in a research report on Monday, November 11th. Finally, The Goldman Sachs Group upped their target price on shares of Flywire from $22.00 to $27.00 and gave the stock a "buy" rating in a research report on Monday, December 2nd. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, 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.