Oppenheimer & Co. Inc. bought a new stake in Remitly Global, Inc. (NASDAQ:RELY - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 42,365 shares of the financial services provider's stock, valued at approximately $956,000.
Other large investors have also recently bought and sold shares of the company. Global Retirement Partners LLC bought a new stake in Remitly Global in the fourth quarter valued at approximately $28,000. Advisors Asset Management Inc. increased its position in shares of Remitly Global by 58.7% during the third quarter. Advisors Asset Management Inc. now owns 3,962 shares of the financial services provider's stock worth $53,000 after acquiring an additional 1,466 shares in the last quarter. Assetmark Inc. bought a new stake in shares of Remitly Global during the third quarter worth $76,000. R Squared Ltd bought a new stake in shares of Remitly Global during the fourth quarter worth $89,000. Finally, FMR LLC increased its position 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 acquiring an additional 1,970 shares in the last quarter. Institutional investors own 74.25% of the company's stock.
Insider Transactions at Remitly Global
In related news, CEO Matthew B. Oppenheimer sold 14,583 shares of the firm's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $25.21, for a total transaction of $367,637.43. Following the transaction, the chief executive officer now directly owns 4,358,679 shares of the company's stock, valued at approximately $109,882,297.59. This trade 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 available through the SEC website. In the last 90 days, insiders sold 43,749 shares of company stock worth $1,009,289. 8.10% of the stock is owned by insiders.
Analyst Ratings Changes
RELY has been the subject of several research reports. Barclays increased their price objective on shares of Remitly Global from $28.00 to $29.00 and gave the stock an "overweight" rating in a research report on Monday, February 24th. BMO Capital Markets increased their target price on shares of Remitly Global from $27.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, February 20th. The Goldman Sachs Group increased their target price on shares of Remitly Global from $28.00 to $33.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. JPMorgan Chase & Co. increased their target price 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. Finally, Wells Fargo & Company increased their target price 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 equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $28.13.
Read Our Latest Analysis on Remitly Global
Remitly Global Price Performance
RELY stock traded down $0.51 during trading hours on Friday, reaching $21.09. The stock had a trading volume of 4,018,122 shares, compared to its average volume of 2,080,039. The stock has a market capitalization of $4.23 billion, a PE ratio of -111.00 and a beta of 0.07. The stock has a 50-day simple moving average of $23.82 and a 200 day simple moving average of $19.32. Remitly Global, Inc. has a fifty-two week low of $11.60 and a fifty-two week high of $27.32.
Remitly Global (NASDAQ:RELY - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported ($0.03) EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.04. The firm had revenue of $351.90 million during the quarter, compared to analysts' expectations of $343.67 million. Remitly Global had a negative net margin of 2.93% and a negative return on equity of 6.10%. On average, sell-side analysts forecast that Remitly Global, Inc. will post -0.04 EPS for the current fiscal year.
Remitly Global Company Profile
(
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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