Fox Run Management L.L.C. Buys 6,139 Shares of Remitly Global, Inc. (NASDAQ:RELY)

Fox Run Management L.L.C. lifted its stake in shares of Remitly Global, Inc. (NASDAQ:RELY) by 16.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,911 shares of the financial services provider’s stock after acquiring an additional 6,139 shares during the quarter. Fox Run Management L.L.C.’s holdings in Remitly Global were worth $969,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Global Retirement Partners LLC purchased a new position in Remitly Global during the 4th quarter worth $28,000. R Squared Ltd bought a new position in shares of Remitly Global during the 4th quarter worth $89,000. Advisors Asset Management Inc. increased its stake in shares of 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 buying an additional 1,466 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Remitly Global in the fourth quarter valued at about $135,000. Finally, KBC Group NV lifted its stake in Remitly Global by 49.7% in the fourth quarter. KBC Group NV now owns 6,121 shares of the financial services provider’s stock worth $138,000 after acquiring an additional 2,033 shares during the period. Institutional investors own 74.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Wells Fargo & Company raised their target price on shares of Remitly Global from $21.00 to $25.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. Barclays lifted their price objective on shares of Remitly Global from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Monday, February 24th. JPMorgan Chase & Co. increased their target price on Remitly Global from $21.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. BMO Capital Markets boosted their price target on Remitly Global from $27.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Finally, The Goldman Sachs Group raised their price objective on Remitly Global from $28.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Remitly Global presently has an average rating of “Moderate Buy” and a consensus price target of $28.13.

Insider Buying and Selling at Remitly Global

In other Remitly Global news, CEO Matthew B. Oppenheimer sold 14,583 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $23.14, for a total transaction of $337,450.62. Following the sale, the chief executive officer now owns 4,387,845 shares in the company, valued at approximately $101,534,733.30. The trade was a 0.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ankur Sinha sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $19.01, for a total value of $95,050.00. Following the completion of the transaction, the insider now owns 397,805 shares of the company’s stock, valued at approximately $7,562,273.05. The trade was a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,749 shares of company stock worth $1,081,736. 8.10% of the stock is owned by corporate insiders.

Remitly Global Price Performance

Shares of NASDAQ:RELY opened at $20.33 on Friday. The business’s 50-day moving average is $23.25 and its 200 day moving average is $19.80. Remitly Global, Inc. has a 1 year low of $11.60 and a 1 year high of $27.32. The firm has a market capitalization of $4.08 billion, a P/E ratio of -107.00 and a beta of 0.07.

Remitly Global (NASDAQ:RELY) last posted its quarterly earnings data on Wednesday, February 19th. The financial services provider reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.04. The firm had revenue of $351.90 million for the quarter, compared to the consensus estimate of $343.67 million. Remitly Global had a negative net margin of 2.93% and a negative return on equity of 6.10%. On average, analysts expect that Remitly Global, Inc. will post -0.04 EPS for the current year.

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.