51,493 Shares in Remitly Global, Inc. $RELY Acquired by Liontrust Investment Partners LLP

Liontrust Investment Partners LLP acquired a new stake in shares of Remitly Global, Inc. (NASDAQ:RELY) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 51,493 shares of the financial services provider’s stock, valued at approximately $967,000.

Several other large investors also recently added to or reduced their stakes in RELY. Cetera Investment Advisers bought a new position in shares of Remitly Global during the 1st quarter valued at $223,000. Vanguard Group Inc. raised its holdings in Remitly Global by 2.1% during the first quarter. Vanguard Group Inc. now owns 14,957,152 shares of the financial services provider’s stock valued at $311,109,000 after buying an additional 306,099 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Remitly Global by 0.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,254,094 shares of the financial services provider’s stock worth $26,085,000 after buying an additional 7,512 shares during the last quarter. Townsquare Capital LLC boosted its stake in shares of Remitly Global by 2.5% during the 1st quarter. Townsquare Capital LLC now owns 18,903 shares of the financial services provider’s stock worth $393,000 after acquiring an additional 459 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Remitly Global by 5.1% during the 1st quarter. Invesco Ltd. now owns 117,285 shares of the financial services provider’s stock valued at $2,440,000 after acquiring an additional 5,673 shares during the last quarter. 74.25% of the stock is owned by institutional investors.

Remitly Global Stock Performance

Shares of RELY opened at $14.65 on Monday. The company has a 50-day simple moving average of $14.47 and a 200-day simple moving average of $17.06. Remitly Global, Inc. has a 52 week low of $12.08 and a 52 week high of $27.32. The firm has a market capitalization of $3.06 billion, a P/E ratio of 162.78 and a beta of 0.11.

Remitly Global (NASDAQ:RELY) last issued its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.02. Remitly Global had a return on equity of 3.12% and a net margin of 1.36%.The firm had revenue of $419.49 million for the quarter, compared to analyst estimates of $413.73 million. During the same period in the previous year, the company posted $0.01 earnings per share. The company’s quarterly revenue was up 24.7% compared to the same quarter last year. As a group, equities analysts forecast that Remitly Global, Inc. will post -0.04 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RELY shares. Weiss Ratings lowered Remitly Global from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday. Monness Crespi & Hardt reduced their price objective on shares of Remitly Global from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. The Goldman Sachs Group decreased their price objective on shares of Remitly Global from $26.00 to $21.00 and set a “buy” rating for the company in a report on Monday, October 13th. Zacks Research downgraded shares of Remitly Global from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 3rd. Finally, William Blair restated an “outperform” rating on shares of Remitly Global in a report on Friday, October 10th. Eight research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $25.88.

Insider Transactions at Remitly Global

In related news, Director Joshua Hug sold 40,776 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $13.33, for a total value of $543,544.08. Following the completion of the transaction, the director directly owned 3,654,764 shares of the company’s stock, valued at $48,718,004.12. This trade represents a 1.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ryno Blignaut sold 4,500 shares of the company’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $13.25, for a total transaction of $59,625.00. Following the completion of the sale, the director directly owned 41,576 shares in the company, valued at approximately $550,882. The trade was a 9.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 79,442 shares of company stock valued at $1,143,702 in the last ninety days. 8.10% of the stock is owned by company insiders.

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.