Legato Capital Management LLC Makes New $1.08 Million Investment in Remitly Global, Inc. (NASDAQ:RELY)

Legato Capital Management LLC bought a new stake in shares of Remitly Global, Inc. (NASDAQ:RELY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 48,045 shares of the financial services provider’s stock, valued at approximately $1,084,000.

A number of other institutional investors have also recently made changes to their positions in RELY. XTX Topco Ltd lifted its position in Remitly Global by 4.0% during the third quarter. XTX Topco Ltd now owns 14,515 shares of the financial services provider’s stock valued at $194,000 after purchasing an additional 563 shares during the period. Claro Advisors LLC boosted its stake in shares of Remitly Global by 5.2% in the 4th quarter. Claro Advisors LLC now owns 12,700 shares of the financial services provider’s stock worth $287,000 after buying an additional 629 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Remitly Global by 1.4% in the third quarter. The Manufacturers Life Insurance Company now owns 86,561 shares of the financial services provider’s stock worth $1,159,000 after acquiring an additional 1,170 shares during the period. Advisors Asset Management Inc. increased its position in Remitly Global by 58.7% during the third quarter. Advisors Asset Management Inc. now owns 3,962 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 1,466 shares during the last quarter. Finally, FMR LLC lifted its holdings in 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 acquiring an additional 1,970 shares during the period. Hedge funds and other institutional investors own 74.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on RELY shares. 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. Wells Fargo & Company boosted their target price on shares of Remitly Global from $18.00 to $21.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. KeyCorp increased their price target on shares of Remitly Global from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Barclays upped their price objective on Remitly Global from $23.00 to $28.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.75.

Insider Buying and Selling at Remitly Global

In other news, insider Joshua Hug sold 22,198 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $20.62, for a total value of $457,722.76. Following the transaction, the insider now owns 3,873,811 shares of the company’s stock, valued at approximately $79,877,982.82. The trade was a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the chief executive officer now owns 4,417,011 shares of the company’s stock, valued at approximately $92,138,849.46. This represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,059 shares of company stock valued at $1,489,808 over the last ninety days. 8.10% of the stock is currently owned by company insiders.

Remitly Global Stock Performance

Shares of RELY stock opened at $25.05 on Thursday. The company’s fifty day moving average price is $22.94 and its 200-day moving average price is $18.09. Remitly Global, Inc. has a one year low of $11.60 and a one year high of $25.78.

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.