Rhumbline Advisers Has $4.71 Million Stake in Remitly Global, Inc. (NASDAQ:RELY)

Rhumbline Advisers increased its holdings in shares of Remitly Global, Inc. (NASDAQ:RELY) by 2.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 208,489 shares of the financial services provider’s stock after acquiring an additional 5,921 shares during the quarter. Rhumbline Advisers owned about 0.11% of Remitly Global worth $4,706,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in RELY. Massachusetts Financial Services Co. MA increased its holdings in shares of Remitly Global by 4.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,657,924 shares of the financial services provider’s stock valued at $48,980,000 after purchasing an additional 169,454 shares during the last quarter. ArrowMark Colorado Holdings LLC grew its stake in Remitly Global by 13.8% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,553,263 shares of the financial services provider’s stock valued at $47,578,000 after buying an additional 431,987 shares during the last quarter. Geode Capital Management LLC grew its stake in Remitly Global by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 3,479,666 shares of the financial services provider’s stock valued at $46,601,000 after buying an additional 107,468 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Remitly Global by 10,213.8% in the 3rd quarter. Principal Financial Group Inc. now owns 2,020,791 shares of the financial services provider’s stock valued at $27,058,000 after acquiring an additional 2,001,198 shares during the period. Finally, Barclays PLC lifted its position in Remitly Global by 19.2% during the third quarter. Barclays PLC now owns 1,408,402 shares of the financial services provider’s stock worth $18,858,000 after acquiring an additional 227,231 shares during the last quarter. Institutional investors own 74.25% of the company’s stock.

Insider Buying and Selling at Remitly Global

In related news, CEO Matthew B. Oppenheimer sold 14,583 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $20.86, for a total transaction of $304,201.38. Following the completion of the sale, the chief executive officer now directly owns 4,417,011 shares in the company, valued at $92,138,849.46. This represents a 0.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders have sold 43,749 shares of company stock valued at $1,009,289. 8.10% of the stock is currently owned by corporate insiders.

Remitly Global Stock Down 0.8 %

RELY opened at $23.66 on Friday. Remitly Global, Inc. has a twelve month low of $11.60 and a twelve month high of $27.32. The stock has a market capitalization of $4.75 billion, a price-to-earnings ratio of -124.53 and a beta of 0.07. The company has a 50-day simple moving average of $23.79 and a 200 day simple moving average of $18.94.

Remitly Global (NASDAQ:RELY) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.04. The business had revenue of $351.90 million for the quarter, compared to analyst estimates of $343.67 million. Remitly Global had a negative net margin of 2.93% and a negative return on equity of 6.10%. Sell-side analysts anticipate that Remitly Global, Inc. will post -0.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RELY has been the topic of a number of recent research reports. Wells Fargo & Company increased their target price on Remitly Global from $21.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 20th. KeyCorp lifted their target price on Remitly Global from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. BMO Capital Markets boosted their target price on shares of Remitly Global from $27.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Barclays raised their price target on shares of Remitly Global from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, The Goldman Sachs Group boosted their price objective on shares of Remitly Global from $28.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, February 20th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.13.

About Remitly Global

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.