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

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in Remitly Global, Inc. (NASDAQ:RELY) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,872 shares of the financial services provider’s stock, valued at approximately $155,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. XTX Topco Ltd grew its position in shares of Remitly Global by 4.0% in the 3rd quarter. XTX Topco Ltd now owns 14,515 shares of the financial services provider’s stock worth $194,000 after buying an additional 563 shares during the last quarter. Claro Advisors LLC grew its position 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. Values First Advisors Inc. grew its position in shares of Remitly Global by 4.4% in the 4th quarter. Values First Advisors Inc. now owns 15,441 shares of the financial services provider’s stock worth $349,000 after buying an additional 653 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Remitly Global by 1.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 86,561 shares of the financial services provider’s stock worth $1,159,000 after buying an additional 1,170 shares during the last quarter. Finally, Advisors Asset Management Inc. grew 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 buying an additional 1,466 shares during the last quarter. Hedge funds and other institutional investors own 74.25% of the company’s stock.

Remitly Global Trading Down 0.5 %

Shares of NASDAQ RELY opened at $25.79 on Friday. Remitly Global, Inc. has a 12 month low of $11.60 and a 12 month high of $27.32. The company has a 50 day simple moving average of $23.58 and a two-hundred day simple moving average of $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 (NASDAQ:RELY) last announced its quarterly earnings data on Wednesday, February 19th. The financial services provider reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.04. Remitly Global had a negative net margin of 5.63% and a negative return on equity of 11.58%. The business had revenue of $351.90 million during the quarter, compared to analysts’ expectations of $343.67 million. Analysts forecast that Remitly Global, Inc. will post -0.23 EPS for the current year.

Analyst Upgrades and Downgrades

RELY has been the topic of a number of analyst reports. KeyCorp lifted their price objective 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. JPMorgan Chase & Co. lifted their target price on shares of Remitly Global from $21.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday. BMO Capital Markets lifted their target price on shares of Remitly Global from $27.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday. Barclays lifted their target price on shares of Remitly Global from $23.00 to $28.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, William Blair reiterated an “outperform” rating on shares of Remitly Global in a research note on Thursday. One research 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, Remitly Global has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

Insider Buying and Selling at Remitly Global

In other news, CEO Matthew B. Oppenheimer sold 14,583 shares of Remitly Global stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $20.86, for a total transaction of $304,201.38. Following the completion of the transaction, the chief executive officer now directly owns 4,417,011 shares of the company’s stock, valued at $92,138,849.46. The trade was a 0.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joshua Hug sold 22,198 shares of Remitly Global stock in a transaction that occurred 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 transaction, the insider now directly owns 3,873,811 shares of the company’s stock, valued at approximately $79,877,982.82. This trade represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,947 shares of company stock worth $1,467,012. Company insiders own 8.10% of the company’s stock.

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.