55,642 Shares in Remitly Global, Inc. $RELY Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC acquired a new position in Remitly Global, Inc. (NASDAQ:RELY) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 55,642 shares of the financial services provider’s stock, valued at approximately $750,000.

Other institutional investors have also recently bought and sold shares of the company. LB Partners LLC grew its holdings in Remitly Global by 60.4% during the 3rd quarter. LB Partners LLC now owns 1,015,584 shares of the financial services provider’s stock worth $16,554,000 after acquiring an additional 382,314 shares during the period. Renaissance Group LLC grew its holdings in Remitly Global by 52.0% during the 3rd quarter. Renaissance Group LLC now owns 495,040 shares of the financial services provider’s stock worth $8,069,000 after acquiring an additional 169,271 shares during the period. JPMorgan Chase & Co. grew its holdings in Remitly Global by 5.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,138,754 shares of the financial services provider’s stock worth $34,862,000 after acquiring an additional 104,716 shares during the period. G2 Investment Partners Management LLC grew its position in shares of Remitly Global by 218.0% during the 2nd quarter. G2 Investment Partners Management LLC now owns 270,317 shares of the financial services provider’s stock worth $5,074,000 after buying an additional 185,317 shares during the period. Finally, Nebula Research & Development LLC grew its position in shares of Remitly Global by 56.7% during the 2nd quarter. Nebula Research & Development LLC now owns 185,433 shares of the financial services provider’s stock worth $3,481,000 after buying an additional 67,077 shares during the period. Institutional investors and hedge funds own 74.25% of the company’s stock.

Insider Transactions at Remitly Global

In related news, insider Ankur Sinha sold 9,741 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $16.94, for a total value of $165,012.54. Following the completion of the transaction, the insider directly owned 1,180,119 shares of the company’s stock, valued at approximately $19,991,215.86. This represents a 0.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joshua Hug sold 29,049 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $17.98, for a total transaction of $522,301.02. Following the completion of the transaction, the director directly owned 3,575,733 shares of the company’s stock, valued at approximately $64,291,679.34. The trade was a 0.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 12,084,720 shares of company stock worth $193,194,734. Company insiders own 7.50% of the company’s stock.

Remitly Global Price Performance

Shares of RELY opened at $16.02 on Wednesday. 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 stock has a 50 day simple moving average of $15.25 and a 200 day simple moving average of $14.76. Remitly Global, Inc. has a 52-week low of $12.08 and a 52-week high of $24.70. The firm has a market capitalization of $3.37 billion, a PE ratio of 51.68, a P/E/G ratio of 0.57 and a beta of 0.09.

Remitly Global (NASDAQ:RELY) last issued its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.17. The business had revenue of $442.18 million during the quarter, compared to analyst estimates of $427.27 million. Remitly Global had a return on equity of 8.87% and a net margin of 4.15%.Remitly Global’s quarterly revenue was up 25.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.03) EPS. Sell-side analysts predict that Remitly Global, Inc. will post -0.04 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on RELY shares. Wall Street Zen lowered Remitly Global from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 28th. Citigroup restated an “outperform” rating on shares of Remitly Global in a research report on Thursday, February 19th. Zacks Research raised shares of Remitly Global from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 20th. JPMorgan Chase & Co. decreased their price target on shares of Remitly Global from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Tuesday, January 20th. Finally, Freedom Capital raised shares of Remitly Global to a “strong-buy” rating in a report on Wednesday, April 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Remitly Global presently has an average rating of “Buy” and a consensus target price of $22.78.

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.