Remitly Global, Inc. $RELY Shares Bought by GSA Capital Partners LLP

GSA Capital Partners LLP boosted its holdings in shares of Remitly Global, Inc. (NASDAQ:RELY) by 1,484.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 361,033 shares of the financial services provider’s stock after buying an additional 338,244 shares during the quarter. Remitly Global comprises about 0.4% of GSA Capital Partners LLP’s investment portfolio, making the stock its 3rd biggest holding. GSA Capital Partners LLP’s holdings in Remitly Global were worth $4,982,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of RELY. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Remitly Global by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,845 shares of the financial services provider’s stock valued at $1,848,000 after buying an additional 3,870 shares during the last quarter. Millennium Management LLC raised its position in shares of Remitly Global by 57.1% in the first quarter. Millennium Management LLC now owns 343,352 shares of the financial services provider’s stock valued at $7,142,000 after buying an additional 124,798 shares during the last quarter. Caxton Associates LLP acquired a new position in shares of Remitly Global in the first quarter valued at approximately $218,000. Focus Partners Wealth acquired a new position in shares of Remitly Global in the first quarter valued at approximately $1,458,000. Finally, Cetera Investment Advisers raised its position in shares of Remitly Global by 12.0% in the second quarter. Cetera Investment Advisers now owns 12,025 shares of the financial services provider’s stock valued at $226,000 after buying an additional 1,286 shares during the last quarter. Institutional investors and hedge funds own 74.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on RELY shares. Citigroup reissued an “outperform” rating on shares of Remitly Global in a research report on Thursday, May 7th. The Goldman Sachs Group reissued a “buy” rating and issued a $27.00 price objective on shares of Remitly Global in a research report on Thursday, May 7th. Oppenheimer set a $20.00 price objective on shares of Remitly Global in a research report on Thursday, February 19th. Citizens Jmp boosted their price objective on shares of Remitly Global from $22.00 to $26.00 and gave the company a “market outperform” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings raised shares of Remitly Global from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $24.63.

Remitly Global Stock Down 5.1%

RELY opened at $21.44 on Tuesday. Remitly Global, Inc. has a 52-week low of $12.08 and a 52-week high of $24.92. The company has a 50 day moving average of $18.70 and a two-hundred day moving average of $15.70. The company has a market cap of $4.51 billion, a P/E ratio of 43.76 and a beta of 0.40.

Remitly Global (NASDAQ:RELY) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.11. Remitly Global had a net margin of 6.12% and a return on equity of 12.90%. The company had revenue of $452.80 million during the quarter, compared to the consensus estimate of $438.94 million. During the same period in the previous year, the firm earned $0.05 earnings per share. Remitly Global’s revenue for the quarter was up 25.2% on a year-over-year basis. Research analysts anticipate that Remitly Global, Inc. will post 0.67 earnings per share for the current year.

Insider Activity at Remitly Global

In other Remitly Global news, insider Ankur Sinha sold 9,741 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $16.94, for a total transaction of $165,012.54. Following the completion of the sale, the insider directly owned 1,180,119 shares in the company, valued at $19,991,215.86. The trade was a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Phillip John Riese sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $20.04, for a total transaction of $801,600.00. Following the sale, the director owned 122,496 shares of the company’s stock, valued at approximately $2,454,819.84. This represents a 24.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 12,191,403 shares of company stock valued at $195,543,490 over the last quarter. Company insiders own 6.53% of the company’s stock.

Remitly Global Profile

Remitly Global, Inc operates as a digital financial services company specializing in cross-border money transfers. Through its proprietary online platform and mobile applications, the company enables immigrants, expatriates and international workers to send remittances swiftly and securely to their families abroad. By focusing on fast deliverability and transparent pricing, Remitly seeks to streamline a process traditionally dominated by cash-based methods and legacy money transfer operators.

Founded in 2011 by Matt Oppenheimer and headquartered in Seattle, Washington, Remitly has grown from a startup into a publicly traded corporation listed on NASDAQ under the ticker RELY.