One Capital Management LLC Buys 30,426 Shares of Remitly Global, Inc. $RELY

One Capital Management LLC raised its stake in shares of Remitly Global, Inc. (NASDAQ:RELY) by 57.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 83,702 shares of the financial services provider’s stock after acquiring an additional 30,426 shares during the period. One Capital Management LLC’s holdings in Remitly Global were worth $1,155,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Baillie Gifford & Co. lifted its stake in shares of Remitly Global by 48.2% in the 4th quarter. Baillie Gifford & Co. now owns 11,658,558 shares of the financial services provider’s stock worth $160,888,000 after purchasing an additional 3,790,210 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Remitly Global by 86.0% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,554,016 shares of the financial services provider’s stock worth $90,530,000 after purchasing an additional 2,567,446 shares during the period. Marshall Wace LLP lifted its stake in shares of Remitly Global by 74.4% in the 3rd quarter. Marshall Wace LLP now owns 4,599,144 shares of the financial services provider’s stock worth $74,966,000 after purchasing an additional 1,962,076 shares during the period. Azora Capital LP bought a new position in shares of Remitly Global in the 3rd quarter worth approximately $31,213,000. Finally, ArrowMark Colorado Holdings LLC lifted its stake in shares of Remitly Global by 46.2% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 5,531,247 shares of the financial services provider’s stock worth $90,159,000 after purchasing an additional 1,748,576 shares during the period. Institutional investors own 74.25% of the company’s stock.

Remitly Global Trading Down 1.7%

Remitly Global stock opened at $19.73 on Thursday. The firm has a 50 day moving average of $19.82 and a 200 day moving average of $16.24. The firm has a market capitalization of $4.15 billion, a price-to-earnings ratio of 40.27 and a beta of 0.37. Remitly Global, Inc. has a 12-month low of $12.08 and a 12-month high of $24.92.

Remitly Global (NASDAQ:RELY) last released its earnings results on Wednesday, May 6th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.11. Remitly Global had a net margin of 6.12% and a return on equity of 12.90%. The company had revenue of $452.80 million during the quarter, compared to analyst estimates of $438.94 million. During the same period in the prior year, the firm posted $0.05 EPS. The firm’s quarterly revenue was up 25.2% compared to the same quarter last year. On average, analysts predict that Remitly Global, Inc. will post 0.66 EPS for the current year.

Insider Buying and Selling at Remitly Global

In other Remitly Global news, insider Pankaj Sharma sold 16,000 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $20.01, for a total transaction of $320,160.00. Following the completion of the sale, the insider directly owned 767,810 shares of the company’s stock, valued at $15,363,878.10. This trade represents a 2.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Joshua Hug sold 33,600 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $21.03, for a total transaction of $706,608.00. Following the sale, the director directly owned 3,424,244 shares of the company’s stock, valued at approximately $72,011,851.32. This trade represents a 0.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 12,229,026 shares of company stock worth $196,514,765. Insiders own 6.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Monness Crespi & Hardt increased their price objective on shares of Remitly Global from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Freedom Capital upgraded shares of Remitly Global to a “strong-buy” rating in a research note on Wednesday, April 1st. Wall Street Zen cut shares of Remitly Global from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 28th. Weiss Ratings reissued a “hold (c-)” rating on shares of Remitly Global in a report on Wednesday, May 20th. Finally, Zacks Research lowered shares of Remitly Global from a “strong-buy” rating to a “hold” rating in a report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Remitly Global has a consensus rating of “Moderate Buy” and an average target price of $24.63.

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.