1 week Ago By ABMN Staff
Arrowstreet Capital Limited Partnership acquired a new stake in shares of Remitly Global, Inc. ( NASDAQ:RELY – Free Report ) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 341,146 shares of the financial services provider’s stock, valued at approximately $7,700,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Global Retirement Partners LLC bought a new position in Remitly Global during the 4th quarter valued at about $28,000. R Squared Ltd purchased a new position in shares of Remitly Global during the fourth quarter valued at approximately $89,000.
Wilmington Savings Fund Society FSB bought a new position in shares of Remitly Global during the fourth quarter valued at approximately $135,000. KBC Group NV raised its holdings in shares of Remitly Global by 49.7% in the fourth quarter.
KBC Group NV now owns 6,121 shares of the financial services provider’s stock worth $138,000 after buying an additional 2,033 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.
a. Prosperity Capital Advisors bought a new stake in shares of Remitly Global during the 4th quarter worth approximately $155,000. Hedge funds and other institutional investors own 74.
25% of the company’s stock. Insider Buying and Selling at Remitly Global In other news, CEO Matthew B. Oppenheimer sold 14,583 shares of the company’s stock in a transaction on Wednesday, February 5th.
The stock was 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 represents a 0.
33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink . Also, insider Ankur Sinha sold 5,000 shares of the firm’s stock in a transaction on Monday, March 17th.
The stock was sold at an average price of $19.01, for a total value of $95,050.00.
Following the completion of the sale, the insider now directly owns 397,805 shares of the company’s stock, valued at $7,562,273.05. The trade was a 1.
24 % decrease in their position. The disclosure for this sale can be found here . Insiders have sold 48,749 shares of company stock worth $1,081,736 over the last quarter.
Insiders own 8.10% of the company’s stock. Remitly Global Stock Performance Remitly Global ( NASDAQ:RELY – Get Free Report ) last announced its earnings results on Wednesday, February 19th.
The financial services provider reported ($0.03) earnings per share (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 analysts’ expectations of $343.
67 million. Remitly Global had a negative return on equity of 6.10% and a negative net margin of 2.
93%. On average, analysts forecast that Remitly Global, Inc. will post -0.
04 earnings per share for the current fiscal year. Analyst Ratings Changes Several brokerages have commented on RELY. William Blair reaffirmed an “outperform” rating on shares of Remitly Global in a research report on Thursday, February 20th.
The Goldman Sachs Group cut their price target on shares of Remitly Global from $33.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd.
BMO Capital Markets lifted their price objective on shares of Remitly Global from $27.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, February 20th.
JPMorgan Chase & Co. upped their target price on shares of Remitly Global from $21.00 to $30.
00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Finally, Barclays lifted their price target on shares of Remitly Global from $28.00 to $29.
00 and gave the company an “overweight” rating in a research note on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.
com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $27.25. Check Out Our Latest Research Report on RELY 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. See Also Want to see what other hedge funds are holding RELY? Visit HoldingsChannel.
com to get the latest 13F filings and insider trades for Remitly Global, Inc. ( NASDAQ:RELY – Free Report ). Receive News & Ratings for Remitly Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Remitly Global and related companies with MarketBeat.
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