Stifel Financial Corp Acquires 32,473 Shares of Remitly Global, Inc. (NASDAQ:RELY)

Stifel Financial Corp grew its holdings in Remitly Global, Inc. (NASDAQ:RELY) by 168.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,756 shares of the financial services provider’s stock after acquiring an additional 32,473 shares during the quarter. Stifel Financial Corp’s holdings in Remitly Global were worth $693,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Advisors Asset Management Inc. lifted its position in shares of Remitly Global by 58.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,962 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 1,466 shares during the period. Assetmark Inc. acquired a new position in shares of Remitly Global in the third quarter valued at $76,000. FMR LLC raised its stake in shares of Remitly Global by 39.8% in the third quarter. FMR LLC now owns 6,919 shares of the financial services provider’s stock valued at $93,000 after purchasing an additional 1,970 shares in the last quarter. nVerses Capital LLC lifted its position in Remitly Global by 2,900.0% in the second quarter. nVerses Capital LLC now owns 9,000 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 8,700 shares during the period. Finally, Green Alpha Advisors LLC acquired a new stake in Remitly Global during the third quarter worth $144,000. Institutional investors and hedge funds own 74.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on RELY shares. KeyCorp raised their price objective 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. Wells Fargo & Company upgraded shares of Remitly Global from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $13.00 to $18.00 in a research note on Thursday, October 31st. BMO Capital Markets upped their price objective on Remitly Global from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Wednesday, September 18th. Barclays increased their target price on Remitly Global from $20.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Finally, JMP Securities boosted their price target on Remitly Global from $22.00 to $25.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.75.

Remitly Global Stock Performance

Shares of NASDAQ:RELY opened at $22.64 on Thursday. The business has a fifty day moving average of $19.26 and a 200-day moving average of $15.40. The firm has a market cap of $4.48 billion, a PE ratio of -64.69 and a beta of 0.10. Remitly Global, Inc. has a twelve month low of $11.60 and a twelve month high of $22.93.

Remitly Global (NASDAQ:RELY) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.07. Remitly Global had a negative net margin of 5.63% and a negative return on equity of 11.58%. The firm had revenue of $336.53 million during the quarter, compared to analysts’ expectations of $320.71 million. During the same quarter last year, the company posted ($0.20) EPS. The company’s quarterly revenue was up 39.3% compared to the same quarter last year. On average, analysts anticipate that Remitly Global, Inc. will post -0.23 EPS for the current fiscal year.

Insider Buying and Selling at Remitly Global

In related news, CEO Matthew B. Oppenheimer sold 40,119 shares of the stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $14.22, for a total value of $570,492.18. Following the transaction, the chief executive officer now directly owns 4,542,613 shares in the company, valued at $64,595,956.86. This represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Joshua Hug sold 22,198 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $20.62, for a total transaction of $457,722.76. Following the sale, the insider now owns 3,873,811 shares of the company’s stock, 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 ninety days, insiders have sold 82,012 shares of company stock worth $1,435,212. Insiders own 8.10% of the company’s stock.

Remitly Global 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.