Blair William & Co. IL Acquires 48,447 Shares of Remitly Global, Inc. (NASDAQ:RELY)

Blair William & Co. IL boosted its holdings in Remitly Global, Inc. (NASDAQ:RELY) by 24.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 245,131 shares of the financial services provider’s stock after acquiring an additional 48,447 shares during the quarter. Blair William & Co. IL’s holdings in Remitly Global were worth $5,533,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in shares of Remitly Global by 10,213.8% in the third quarter. Principal Financial Group Inc. now owns 2,020,791 shares of the financial services provider’s stock worth $27,058,000 after purchasing an additional 2,001,198 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in 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 buying an additional 557,168 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its stake in Remitly Global by 13.8% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,553,263 shares of the financial services provider’s stock valued at $47,578,000 after acquiring an additional 431,987 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Remitly Global by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 14,651,053 shares of the financial services provider’s stock worth $330,674,000 after acquiring an additional 380,159 shares during the last quarter. Finally, Lisanti Capital Growth LLC bought a new stake in shares of Remitly Global in the 4th quarter worth $6,324,000. Institutional investors and hedge funds own 74.25% of the company’s stock.

Insider Activity at Remitly Global

In related news, insider Ankur Sinha sold 5,000 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $19.01, for a total transaction of $95,050.00. Following the sale, the insider now owns 397,805 shares of the company’s stock, valued at approximately $7,562,273.05. This represents a 1.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Matthew B. Oppenheimer sold 14,583 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $19.31, for a total value of $281,597.73. Following the completion of the transaction, the chief executive officer now owns 4,329,513 shares of the company’s stock, valued at approximately $83,602,896.03. This represents a 0.34 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,749 shares of company stock worth $1,081,736. 8.10% of the stock is owned by corporate insiders.

Remitly Global Price Performance

Shares of RELY opened at $20.93 on Monday. The stock’s fifty day moving average price is $23.07 and its two-hundred day moving average price is $20.11. Remitly Global, Inc. has a 1 year low of $11.60 and a 1 year high of $27.32. The firm has a market cap of $4.20 billion, a PE ratio of -110.16 and a beta of 0.07.

Remitly Global (NASDAQ:RELY) last released its quarterly earnings data on Wednesday, February 19th. The financial services provider reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.04. The business had revenue of $351.90 million for the quarter, compared to the consensus estimate of $343.67 million. Remitly Global had a negative net margin of 2.93% and a negative return on equity of 6.10%. Sell-side analysts anticipate that Remitly Global, Inc. will post -0.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on RELY shares. JPMorgan Chase & Co. boosted their price target on shares of Remitly Global from $21.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Barclays boosted their target price 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 increased their price target on Remitly Global from $28.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. BMO Capital Markets boosted their price objective on Remitly Global from $27.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Finally, William Blair reaffirmed an “outperform” rating on shares of Remitly Global in a research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $28.13.

Remitly Global Company Profile

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.