GSA Capital Partners LLP Has $3.52 Million Stock Holdings in Remitly Global, Inc. (NASDAQ:RELY)

GSA Capital Partners LLP increased its stake in shares of Remitly Global, Inc. (NASDAQ:RELY - Free Report) by 30.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 262,635 shares of the financial services provider's stock after buying an additional 60,991 shares during the period. Remitly Global accounts for approximately 0.3% of GSA Capital Partners LLP's holdings, making the stock its 22nd biggest holding. GSA Capital Partners LLP owned about 0.13% of Remitly Global worth $3,517,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. increased its holdings in shares of Remitly Global by 409.8% in the first quarter. Advisors Asset Management Inc. now owns 1,672 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 1,344 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in shares of Remitly Global in the 1st quarter valued at $37,000. Blue Trust Inc. bought a new stake in shares of Remitly Global during the second quarter worth $43,000. Assetmark Inc. acquired a new position in shares of Remitly Global during the third quarter valued at $76,000. Finally, nVerses Capital LLC boosted its holdings in Remitly Global by 2,900.0% in the second quarter. nVerses Capital LLC now owns 9,000 shares of the financial services provider's stock valued at $109,000 after acquiring an additional 8,700 shares during the last quarter. Institutional investors own 74.25% of the company's stock.

Insider Transactions at Remitly Global

In other news, CEO Matthew B. Oppenheimer sold 40,119 shares of the business's stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $14.22, for a total value of $570,492.18. Following the completion of the sale, the chief executive officer now owns 4,542,613 shares of the company's stock, valued at approximately $64,595,956.86. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Matthew B. Oppenheimer sold 40,119 shares of the company's stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $14.22, for a total transaction of $570,492.18. Following the completion of the sale, the chief executive officer now owns 4,542,613 shares of the company's stock, valued at approximately $64,595,956.86. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Pankaj Sharma sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $20.00, for a total transaction of $80,000.00. Following the sale, the insider now owns 151,576 shares in the company, valued at $3,031,520. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 8.10% of the stock is currently owned by corporate insiders.

Remitly Global Stock Down 0.7 %

Shares of NASDAQ:RELY traded down $0.14 during midday trading on Tuesday, reaching $19.59. 5,483,810 shares of the company were exchanged, compared to its average volume of 1,733,651. The stock has a fifty day simple moving average of $14.86 and a two-hundred day simple moving average of $14.00. Remitly Global, Inc. has a fifty-two week low of $11.60 and a fifty-two week high of $23.01. The firm has a market cap of $3.88 billion, a PE ratio of -55.97 and a beta of 0.03.

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RELY. KeyCorp boosted their price target on shares of Remitly Global from $20.00 to $21.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. BMO Capital Markets increased their price target on Remitly Global from $23.00 to $24.00 and gave the company an "outperform" rating in a research note on Wednesday, September 18th. Barclays lifted their price objective on Remitly Global from $16.00 to $20.00 and gave the stock an "overweight" rating in a research note on Monday, November 4th. JPMorgan Chase & Co. increased their target price on Remitly Global from $19.00 to $21.00 and gave the company an "overweight" rating in a research note on Tuesday, August 20th. Finally, Monness Crespi & Hardt upped their price target on Remitly Global from $29.00 to $30.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $22.38.

Remitly Global 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.