6,872 Shares in Remitly Global, Inc. (NASDAQ:RELY) Bought by C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Remitly Global, Inc. (NASDAQ:RELY) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 6,872 shares of the financial services provider’s stock, valued at approximately $155,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RELY. Principal Financial Group Inc. increased 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 worth $27,058,000 after acquiring an additional 2,001,198 shares in the last quarter. ArrowMark Colorado Holdings LLC increased its holdings 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 worth $47,578,000 after acquiring an additional 431,987 shares in the last quarter. Barclays PLC increased its holdings in Remitly Global by 19.2% in the 3rd 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 in the last quarter. Portolan Capital Management LLC increased its holdings in Remitly Global by 96.3% in the 3rd quarter. Portolan Capital Management LLC now owns 353,054 shares of the financial services provider’s stock worth $4,727,000 after acquiring an additional 173,162 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Remitly Global by 4.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,657,924 shares of the financial services provider’s stock worth $48,980,000 after acquiring an additional 169,454 shares in the last quarter. Hedge funds and other institutional investors own 74.25% of the company’s stock.

Insider Activity

In other Remitly Global news, CEO Matthew B. Oppenheimer sold 14,583 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $23.14, for a total value of $337,450.62. Following the transaction, the chief executive officer now owns 4,387,845 shares of the company’s stock, valued at $101,534,733.30. This represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Joshua Hug sold 22,198 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $20.62, for a total transaction of $457,722.76. Following the completion of the transaction, the insider now directly owns 3,873,811 shares in the company, valued at $79,877,982.82. The trade was a 0.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 65,947 shares of company stock valued at $1,467,012. 8.10% of the stock is currently owned by insiders.

Remitly Global Trading Down 0.5 %

Shares of RELY stock opened at $25.79 on Friday. The company’s 50-day moving average price is $23.58 and its 200-day moving average price is $18.60. The stock has a market cap of $5.11 billion, a price-to-earnings ratio of -73.69 and a beta of 0.07. Remitly Global, Inc. has a twelve month low of $11.60 and a twelve month high of $27.32.

Remitly Global (NASDAQ:RELY) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.04. The firm had revenue of $351.90 million for the quarter, compared to analysts’ expectations of $343.67 million. Remitly Global had a negative net margin of 5.63% and a negative return on equity of 11.58%. As a group, equities research analysts predict that Remitly Global, Inc. will post -0.23 EPS for the current year.

Wall Street Analysts Forecast Growth

RELY has been the subject of several recent analyst reports. Wells Fargo & Company boosted their price target on shares of Remitly Global from $21.00 to $25.00 and gave the stock an “equal weight” rating in a report on Thursday. William Blair reaffirmed an “outperform” rating on shares of Remitly Global in a report on Thursday. The Goldman Sachs Group upped their target price on shares of Remitly Global from $28.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday. KeyCorp upped their target price on shares of Remitly Global from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, JMP Securities upped their target price on shares of Remitly Global from $22.00 to $25.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

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.