DHK Financial Advisors Inc. Invests $273,000 in Remitly Global, Inc. (NASDAQ:RELY)

DHK Financial Advisors Inc. acquired a new position in shares of Remitly Global, Inc. (NASDAQ:RELY - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 12,109 shares of the financial services provider's stock, valued at approximately $273,000.

Several other large investors have also made changes to their positions in the company. Advisors Asset Management Inc. raised its stake in shares of Remitly Global by 58.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,962 shares of the financial services provider's stock valued at $53,000 after acquiring an additional 1,466 shares during the period. Assetmark Inc. acquired a new stake in Remitly Global in the 3rd quarter valued at $76,000. KBC Group NV raised its position in Remitly Global by 49.7% in the fourth quarter. KBC Group NV now owns 6,121 shares of the financial services provider's stock valued at $138,000 after purchasing an additional 2,033 shares during the period. FMR LLC lifted its stake in shares of Remitly Global by 39.8% during the third quarter. FMR LLC now owns 6,919 shares of the financial services provider's stock worth $93,000 after purchasing an additional 1,970 shares in the last quarter. Finally, Green Alpha Advisors LLC purchased a new stake in shares of Remitly Global in the third quarter worth about $144,000. 74.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Remitly Global

In other news, CEO Matthew B. Oppenheimer sold 14,583 shares of the company's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $20.86, for a total transaction of $304,201.38. Following the completion of the transaction, the chief executive officer now owns 4,417,011 shares in the company, valued at approximately $92,138,849.46. This represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pankaj Sharma sold 4,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $20.00, for a total transaction of $80,000.00. Following the completion of the sale, the insider now directly owns 151,576 shares in the company, valued at approximately $3,031,520. This trade represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,476 shares of company stock valued at $1,202,171 over the last three months. 8.10% of the stock is owned by insiders.

Remitly Global Price Performance

Shares of NASDAQ:RELY traded down $0.23 during midday trading on Friday, reaching $23.50. The company had a trading volume of 1,310,873 shares, compared to its average volume of 1,267,069. Remitly Global, Inc. has a one year low of $11.60 and a one year high of $24.09. The stock has a market capitalization of $4.65 billion, a P/E ratio of -67.14 and a beta of 0.07. The stock's fifty day moving average price is $22.25 and its 200-day moving average price is $17.44.

Remitly Global (NASDAQ:RELY - Get Free Report) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $0.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.07. Remitly Global had a negative net margin of 5.63% and a negative return on equity of 11.58%. The business had revenue of $336.53 million for the quarter, compared to analyst estimates of $320.71 million. During the same quarter in the prior year, the business posted ($0.20) EPS. The company's revenue for the quarter was up 39.3% on a year-over-year basis. As a group, sell-side analysts forecast that Remitly Global, Inc. will post -0.23 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. KeyCorp raised their target price on Remitly Global from $20.00 to $21.00 and gave the company an "overweight" rating in a report on Thursday, October 31st. Barclays lifted their price objective on shares of Remitly Global from $20.00 to $23.00 and gave the company an "overweight" rating in a research note on Monday, November 18th. Wells Fargo & Company upped their target price on shares of Remitly Global from $18.00 to $21.00 and gave the company an "equal weight" rating in a research note on Thursday, January 16th. Finally, JMP Securities lifted their price target on shares of Remitly Global from $22.00 to $25.00 and gave the stock a "market outperform" rating in a research note on Thursday, October 31st. 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 data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $23.13.

About Remitly Global

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.