KBC Group NV grew its holdings in Remitly Global, Inc. (NASDAQ:RELY – Free Report) by 29.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,944 shares of the financial services provider’s stock after buying an additional 1,823 shares during the quarter. KBC Group NV’s holdings in Remitly Global were worth $165,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in RELY. Exchange Traded Concepts LLC acquired a new stake in Remitly Global in the 1st quarter valued at about $46,000. Mackenzie Financial Corp acquired a new stake in shares of Remitly Global in the fourth quarter valued at approximately $211,000. Xponance Inc. acquired a new stake in shares of Remitly Global in the fourth quarter valued at approximately $245,000. Clarius Group LLC acquired a new position in Remitly Global during the first quarter worth $239,000. Finally, TD Waterhouse Canada Inc. acquired a new position in Remitly Global during the fourth quarter worth $277,000. Institutional investors and hedge funds own 74.25% of the company’s stock.
Remitly Global Stock Performance
Shares of Remitly Global stock opened at $18.51 on Monday. Remitly Global, Inc. has a one year low of $12.33 and a one year high of $27.32. The stock has a market cap of $3.77 billion, a price-to-earnings ratio of -616.83 and a beta of 0.13. The stock has a 50 day moving average price of $20.96 and a 200-day moving average price of $21.81.
Insider Buying and Selling
In other Remitly Global news, CEO Matthew B. Oppenheimer sold 14,583 shares of the company’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $22.44, for a total value of $327,242.52. Following the completion of the transaction, the chief executive officer directly owned 4,271,181 shares of the company’s stock, valued at $95,845,301.64. This represents a 0.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Phillip John Riese sold 5,000 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $20.34, for a total transaction of $101,700.00. Following the transaction, the director directly owned 102,257 shares in the company, valued at $2,079,907.38. The trade was a 4.66% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,084,968 shares of company stock worth $276,321,392. 8.10% of the stock is currently owned by insiders.
Analysts Set New Price Targets
RELY has been the subject of several recent analyst reports. Barclays upped their price objective on shares of Remitly Global from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, May 12th. Monness Crespi & Hardt upped their price objective on Remitly Global from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. KeyCorp increased their target price on shares of Remitly Global from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. The Goldman Sachs Group raised their price objective on shares of Remitly Global from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $32.00 target price on shares of Remitly Global in a report on Thursday, April 10th. One equities research analyst has rated the stock with a hold rating and eight have issued 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 price target of $28.88.
Check Out Our Latest Report on RELY
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.
Featured Articles
- Five stocks we like better than Remitly Global
- What is the Nasdaq? Complete Overview with History
- Forget the Weak Dollar—These 3 Travel Stocks Are Still Taking Off
- How to Calculate Return on Investment (ROI)
- Correction Equals Opportunity in Domino’s Pizza Stock
- How Investors Can Identify and Successfully Trade Gap-Down Stocks
- 3 Defense Leaders Set to Gain From Rising Military Spend
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.com's FREE daily email newsletter.