Townsquare Capital LLC Purchases New Holdings in Remitly Global, Inc. (NASDAQ:RELY)

Townsquare Capital LLC purchased a new position in Remitly Global, Inc. (NASDAQ:RELY - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 18,444 shares of the financial services provider's stock, valued at approximately $416,000.

Several other hedge funds and other institutional investors have also made changes to their positions in RELY. Global Retirement Partners LLC purchased a new position in shares of Remitly Global in the 4th quarter worth $28,000. R Squared Ltd bought a new position in shares of Remitly Global during the 4th quarter valued at approximately $89,000. Wilmington Savings Fund Society FSB bought a new position in Remitly Global during the fourth quarter valued at $135,000. KBC Group NV increased its position in Remitly Global by 49.7% during the fourth quarter. KBC Group NV now owns 6,121 shares of the financial services provider's stock valued at $138,000 after acquiring an additional 2,033 shares during the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Remitly Global in the 4th quarter worth about $155,000. Institutional investors own 74.25% of the company's stock.

Insider Buying and Selling at Remitly Global

In related news, insider Ankur Sinha sold 5,000 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $19.01, for a total value of $95,050.00. Following the completion of the transaction, the insider now directly owns 397,805 shares in the company, valued at $7,562,273.05. The trade was a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Joshua Hug sold 10,000 shares of Remitly Global stock in a transaction on Monday, April 21st. The shares were sold at an average price of $19.23, for a total transaction of $192,300.00. Following the completion of the transaction, the insider now directly owns 3,813,811 shares of the company's stock, valued at $73,339,585.53. The trade was a 0.26 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,166 shares of company stock worth $1,133,685. Company insiders own 8.10% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on RELY shares. Barclays raised their price objective on shares of 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 shares of Remitly Global from $33.00 to $26.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. 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 research note on Thursday, February 20th. JMP Securities reaffirmed a "market outperform" rating and set a $32.00 target price on shares of Remitly Global in a research report on Thursday, April 10th. Finally, JPMorgan Chase & Co. boosted their price target on Remitly Global from $21.00 to $30.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $28.50.

Remitly Global Price Performance

Remitly Global stock traded up $0.28 during midday trading on Wednesday, reaching $19.63. The company's stock had a trading volume of 2,012,615 shares, compared to its average volume of 1,972,664. Remitly Global, Inc. has a 52-week low of $11.60 and a 52-week high of $27.32. The stock has a market capitalization of $3.94 billion, a P/E ratio of -103.32 and a beta of 0.15. The stock's 50-day simple moving average is $21.43 and its 200-day simple moving average is $20.82.

Remitly Global (NASDAQ:RELY - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The financial services provider reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.04. The business had revenue of $351.90 million during 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%. As a group, equities research analysts expect that Remitly Global, Inc. will post -0.04 earnings per share for the current fiscal year.

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.