Inceptionr LLC Makes New Investment in Remitly Global, Inc. $RELY

Inceptionr LLC acquired a new position in shares of Remitly Global, Inc. (NASDAQ:RELY) in the second quarter, HoldingsChannel.com reports. The firm acquired 35,256 shares of the financial services provider’s stock, valued at approximately $662,000.

A number of other hedge funds and other institutional investors have also modified their holdings of RELY. Elequin Capital LP bought a new stake in Remitly Global during the first quarter worth about $30,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Remitly Global during the 1st quarter worth approximately $41,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Remitly Global in the 1st quarter valued at approximately $66,000. Flaharty Asset Management LLC bought a new position in shares of Remitly Global in the first quarter valued at $94,000. Finally, AlphaQuest LLC bought a new position in shares of Remitly Global in the first quarter valued at $203,000. Institutional investors and hedge funds own 74.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. William Blair reaffirmed an “outperform” rating on shares of Remitly Global in a research report on Friday, October 10th. Wall Street Zen raised shares of Remitly Global from a “hold” rating to a “buy” rating in a report on Sunday, September 7th. KeyCorp reiterated an “overweight” rating and set a $28.00 price target (up previously from $27.00) on shares of Remitly Global in a report on Thursday, August 7th. JMP Securities lowered their price target on Remitly Global from $32.00 to $23.00 and set a “market outperform” rating on the stock in a research report on Monday, September 15th. Finally, Monness Crespi & Hardt dropped their price objective on Remitly Global from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Remitly Global has an average rating of “Moderate Buy” and a consensus target price of $25.88.

Remitly Global Stock Performance

Shares of Remitly Global stock opened at $13.35 on Friday. The firm has a 50-day moving average of $15.04 and a 200-day moving average of $17.82. Remitly Global, Inc. has a 52-week low of $12.08 and a 52-week high of $27.32. The stock has a market cap of $2.79 billion, a PE ratio of 148.33 and a beta of 0.10.

Remitly Global (NASDAQ:RELY) last released its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The business had revenue of $419.49 million for the quarter, compared to analyst estimates of $413.73 million. Remitly Global had a net margin of 1.36% and a return on equity of 3.12%. Remitly Global’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same period last year, the firm earned $0.01 earnings per share. Remitly Global has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. Equities research analysts predict that Remitly Global, Inc. will post -0.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Remitly Global

In related news, CEO Matthew B. Oppenheimer sold 14,583 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $15.59, for a total value of $227,348.97. Following the completion of the sale, the chief executive officer directly owned 4,515,188 shares in the company, valued at approximately $70,391,780.92. The trade was a 0.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 31,166 shares of company stock valued at $495,533 in the last three months. 7.50% of the stock is currently owned by insiders.

Remitly Global 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.