100,000 Shares in Remitly Global, Inc. $RELY Bought by Compagnie Lombard Odier SCmA

Compagnie Lombard Odier SCmA acquired a new stake in shares of Remitly Global, Inc. (NASDAQ:RELY) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 100,000 shares of the financial services provider’s stock, valued at approximately $1,380,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RELY. GAMMA Investing LLC raised its stake in shares of Remitly Global by 280.2% during the 4th quarter. GAMMA Investing LLC now owns 2,209 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 1,628 shares in the last quarter. Essex Investment Management Co. LLC bought a new stake in shares of Remitly Global in the 3rd quarter valued at approximately $33,000. First Horizon Corp bought a new stake in shares of Remitly Global in the 3rd quarter valued at approximately $36,000. Quarry LP acquired a new position in Remitly Global in the third quarter worth approximately $42,000. Finally, Exchange Traded Concepts LLC increased its holdings in Remitly Global by 29.9% in the third quarter. Exchange Traded Concepts LLC now owns 3,098 shares of the financial services provider’s stock worth $50,000 after buying an additional 714 shares during the last quarter. Hedge funds and other institutional investors own 74.25% of the company’s stock.

Remitly Global Stock Up 0.5%

Shares of RELY stock opened at $15.75 on Thursday. The stock’s 50 day simple moving average is $15.10 and its 200 day simple moving average is $14.81. Remitly Global, Inc. has a twelve month low of $12.08 and a twelve month high of $24.70. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.30 and a current ratio of 3.30. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of 50.81, a PEG ratio of 0.56 and a beta of 0.09.

Remitly Global (NASDAQ:RELY) last announced its earnings results on Wednesday, February 18th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.17. Remitly Global had a return on equity of 8.87% and a net margin of 4.15%.The firm had revenue of $442.18 million during the quarter, compared to analysts’ expectations of $427.27 million. During the same quarter in the prior year, the business earned ($0.03) earnings per share. The company’s revenue was up 25.7% on a year-over-year basis. As a group, research analysts predict that Remitly Global, Inc. will post -0.04 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RELY. Weiss Ratings upgraded shares of Remitly Global from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, February 20th. Zacks Research upgraded shares of Remitly Global from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 20th. The Goldman Sachs Group raised their price target on shares of Remitly Global from $17.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, February 19th. JPMorgan Chase & Co. reduced their price objective on shares of Remitly Global from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Tuesday, January 20th. Finally, Bank of America began coverage on shares of Remitly Global in a report on Tuesday, February 10th. They issued a “buy” rating and a $18.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $22.78.

Insider Buying and Selling at Remitly Global

In related news, CFO Vikas D. Mehta sold 25,000 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $17.50, for a total value of $437,500.00. Following the transaction, the chief financial officer directly owned 862,759 shares in the company, valued at approximately $15,098,282.50. This trade represents a 2.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Ankur Sinha sold 9,741 shares of Remitly Global stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $16.94, for a total transaction of $165,012.54. Following the completion of the transaction, the insider owned 1,180,119 shares in the company, valued at $19,991,215.86. This trade represents a 0.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 12,073,290 shares of company stock worth $193,019,269 in the last quarter. 7.50% of the stock is owned by corporate insiders.

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.