2 weeks Ago By ABMN Staff
Russell Investments Group Ltd. lifted its stake in Remitly Global, Inc. ( NASDAQ:RELY – Free Report ) by 168.
9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 124,600 shares of the financial services provider’s stock after purchasing an additional 78,256 shares during the quarter. Russell Investments Group Ltd.
owned 0.06% of Remitly Global worth $2,812,000 as of its most recent filing with the Securities & Exchange Commission. A number of other hedge funds and other institutional investors have also modified their holdings of RELY.
Norges Bank purchased a new stake in Remitly Global during the fourth quarter valued at about $66,169,000. Principal Financial Group Inc. raised its holdings in shares of Remitly Global by 10,213.
8% during the third quarter. Principal Financial Group Inc. now owns 2,020,791 shares of the financial services provider’s stock valued at $27,058,000 after acquiring an additional 2,001,198 shares during the period.
Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Remitly Global by 110.7% in the 4th quarter.
Connor Clark & Lunn Investment Management Ltd. now owns 1,060,634 shares of the financial services provider’s stock valued at $23,939,000 after acquiring an additional 557,168 shares in the last quarter. Vanguard Group Inc.
boosted its stake in Remitly Global by 2.7% in the 4th quarter. Vanguard Group Inc.
now owns 14,651,053 shares of the financial services provider’s stock worth $330,674,000 after purchasing an additional 380,159 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Remitly Global during the 4th quarter worth approximately $7,700,000. Institutional investors and hedge funds own 74.
25% of the company’s stock. Analyst Ratings Changes A number of analysts have recently issued reports on RELY shares. BMO Capital Markets increased their target price on Remitly Global from $27.
00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Barclays increased their price objective on Remitly Global from $28.
00 to $29.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. The Goldman Sachs Group lowered their target price on Remitly Global from $33.
00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. JMP Securities reissued a “market outperform” rating and issued a $32.
00 price target on shares of Remitly Global in a research report on Thursday, April 10th. Finally, Wells Fargo & Company raised their price target on shares of Remitly Global from $21.00 to $25.
00 and gave the stock an “equal weight” rating in a report on Thursday, February 20th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.
com, Remitly Global has an average rating of “Moderate Buy” and a consensus target price of $28.13. Insider Buying and Selling In related news, insider Ankur Sinha sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 17th.
The stock was sold at an average price of $19.01, for a total value of $95,050.00.
Following the completion of the sale, the insider now directly owns 397,805 shares in the company, valued at approximately $7,562,273.05. The trade was a 1.
24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link . Also, CEO Matthew B.
Oppenheimer sold 14,583 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $19.31, for a total value of $281,597.
73. Following the sale, the chief executive officer now directly owns 4,329,513 shares of the company’s stock, valued at $83,602,896.03.
The trade was a 0.34 % decrease in their position. The disclosure for this sale can be found here .
Over the last three months, insiders sold 48,749 shares of company stock worth $1,081,736. Corporate insiders own 8.10% of the company’s stock.
Remitly Global Stock Performance Shares of NASDAQ RELY opened at $19.93 on Friday. The business has a 50 day simple moving average of $21.
79 and a 200 day simple moving average of $20.64. Remitly Global, Inc.
has a 52 week low of $11.60 and a 52 week high of $27.32.
The stock has a market cap of $4.00 billion, a price-to-earnings ratio of -104.89 and a beta of 0.
15. Remitly Global ( NASDAQ:RELY – Get Free Report ) last posted its earnings results on Wednesday, February 19th. The financial services provider reported ($0.
03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.04.
Remitly Global had a negative net margin of 2.93% and a negative return on equity of 6.10%.
The firm had revenue of $351.90 million during the quarter, compared to analysts’ expectations of $343.67 million.
On average, analysts predict that Remitly Global, Inc. will post -0.04 EPS for the current year.
About Remitly Global ( Free Report ) Remitly Global, Inc provides digital financial services for immigrants and their families. It primarily offers cross-border remittance services in approximately 170 countries. The company was incorporated in 2011 and is headquartered in Seattle, Washington.
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