Strs Ohio Has $243,000 Stake in Remitly Global, Inc. $RELY

Strs Ohio lowered its holdings in Remitly Global, Inc. (NASDAQ:RELY) by 70.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 17,600 shares of the financial services provider’s stock after selling 42,900 shares during the quarter. Strs Ohio’s holdings in Remitly Global were worth $243,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Torren Management LLC acquired a new position in Remitly Global during the fourth quarter worth $25,000. GAMMA Investing LLC lifted its stake in shares of Remitly Global by 280.2% in the fourth quarter. GAMMA Investing LLC now owns 2,209 shares of the financial services provider’s stock valued at $30,000 after buying an additional 1,628 shares in the last quarter. Essex Investment Management Co. LLC acquired a new position in shares of Remitly Global during the third quarter valued at about $33,000. First Horizon Corp acquired a new position in shares of Remitly Global during the third quarter valued at about $36,000. Finally, Quarry LP bought a new stake in shares of Remitly Global during the third quarter worth about $42,000. Institutional investors own 74.25% of the company’s stock.

Insiders Place Their Bets

In other Remitly Global news, insider Ankur Sinha sold 9,741 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $16.94, for a total value of $165,012.54. Following the completion of the sale, the insider directly owned 1,180,119 shares of the company’s stock, valued at approximately $19,991,215.86. This represents a 0.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ltd Naspers sold 12,000,000 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $15.98, for a total transaction of $191,760,000.00. Following the completion of the sale, the insider directly owned 13,441,745 shares of the company’s stock, valued at $214,799,085.10. The trade was a 47.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 12,163,520 shares of company stock worth $194,773,102 in the last ninety days. 6.53% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

RELY has been the topic of a number of analyst reports. Citizens Jmp upped their target price on shares of Remitly Global from $22.00 to $26.00 and gave the stock a “market outperform” rating in a report on Thursday, May 7th. Monness Crespi & Hardt upped their target price on shares of Remitly Global from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Freedom Capital upgraded shares of Remitly Global to a “strong-buy” rating in a report on Wednesday, April 1st. The Goldman Sachs Group restated a “buy” rating and issued a $27.00 target price on shares of Remitly Global in a report on Thursday. Finally, Oppenheimer set a $20.00 target price on shares of Remitly Global in a report on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.63.

Remitly Global Trading Up 1.0%

RELY opened at $24.28 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.30 and a quick ratio of 3.30. Remitly Global, Inc. has a fifty-two week low of $12.08 and a fifty-two week high of $24.92. The firm has a market capitalization of $5.11 billion, a PE ratio of 49.55 and a beta of 0.40. The company’s 50-day moving average is $18.12 and its 200 day moving average is $15.49.

Remitly Global (NASDAQ:RELY) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.23 earnings per share 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 13.28%. The business had revenue of $452.80 million for the quarter, compared to analysts’ expectations of $438.94 million. During the same period in the previous year, the company earned $0.05 earnings per share. The firm’s revenue for the quarter was up 25.2% compared to the same quarter last year. As a group, research analysts predict that Remitly Global, Inc. will post 0.61 earnings per share for the current fiscal year.

About Remitly Global

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.