Fox Run Management L.L.C. Boosts Stock Position in Remitly Global, Inc. $RELY

Fox Run Management L.L.C. grew its position in Remitly Global, Inc. (NASDAQ:RELY) by 248.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 89,417 shares of the financial services provider’s stock after purchasing an additional 63,730 shares during the period. Fox Run Management L.L.C.’s holdings in Remitly Global were worth $1,678,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Teacher Retirement System of Texas purchased a new stake in Remitly Global in the first quarter valued at approximately $1,231,000. Envestnet Asset Management Inc. lifted its stake in Remitly Global by 10.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 59,590 shares of the financial services provider’s stock valued at $1,239,000 after acquiring an additional 5,816 shares during the period. Xponance Inc. boosted its holdings in shares of Remitly Global by 4.8% in the 1st quarter. Xponance Inc. now owns 11,391 shares of the financial services provider’s stock valued at $237,000 after acquiring an additional 518 shares during the last quarter. Edgestream Partners L.P. increased its stake in shares of Remitly Global by 166.9% in the first quarter. Edgestream Partners L.P. now owns 84,417 shares of the financial services provider’s stock worth $1,756,000 after acquiring an additional 52,783 shares during the period. Finally, Jackson Creek Investment Advisors LLC purchased a new position in shares of Remitly Global during the first quarter worth $1,306,000. Institutional investors and hedge funds own 74.25% of the company’s stock.

Insider Activity at Remitly Global

In related news, Director Phillip John Riese sold 5,000 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $20.00, for a total value of $100,000.00. Following the completion of the sale, the director owned 112,496 shares of the company’s stock, valued at approximately $2,249,920. The trade was a 4.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Pankaj Sharma sold 4,000 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $20.00, for a total transaction of $80,000.00. Following the transaction, the insider directly owned 182,926 shares in the company, valued at approximately $3,658,520. The trade was a 2.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 93,943 shares of company stock worth $1,696,348 over the last 90 days. 7.50% of the stock is owned by insiders.

Remitly Global Stock Up 3.2%

RELY stock opened at $12.71 on Friday. Remitly Global, Inc. has a 52-week low of $12.16 and a 52-week high of $27.32. The firm has a market cap of $2.66 billion, a P/E ratio of 141.22 and a beta of 0.10. The company’s 50-day simple moving average is $16.70 and its 200-day simple moving average is $18.62.

Remitly Global (NASDAQ:RELY) last released its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. Remitly Global had a return on equity of 3.20% and a net margin of 1.36%.The company had revenue of $419.49 million during the quarter, compared to analysts’ expectations of $413.73 million. During the same quarter in the prior year, the firm posted $0.01 EPS. Remitly Global’s quarterly revenue was up 24.7% compared to the same quarter last year. Remitly Global has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. On average, analysts anticipate that Remitly Global, Inc. will post -0.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on RELY. Wall Street Zen raised shares of Remitly Global from a “hold” rating to a “buy” rating in a report on Sunday, September 7th. JPMorgan Chase & Co. decreased their price objective on Remitly Global from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Thursday. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Remitly Global in a report on Wednesday, October 8th. Monness Crespi & Hardt reduced their price target on Remitly Global from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Thursday. Finally, JMP Securities decreased their price target on Remitly Global from $32.00 to $23.00 and set a “market outperform” rating for the company in a report on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Remitly Global has a consensus rating of “Moderate Buy” and a consensus price target of $25.88.

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.