Universal Beteiligungs und Servicegesellschaft mbH Has $13.17 Million Stock Position in Remitly Global, Inc. $RELY

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in Remitly by 44.3% in Q4 to 954,064 shares (worth ~$13.17M, ~0.46% of the company), while other institutions like Baillie Gifford, Arrowstreet and Marshall Wace also increased positions, leaving institutional ownership at about 74.25%.
• Company insiders have been net sellers, disposing of 12,146,720 shares valued at roughly $194.41M in the last 90 days (including director sales), though insiders still own about 7.5% of the stock.
• Remitly posted a Q4 beat with $0.19 EPS vs. $0.02 est. and revenue of $442.18M (up 25.7% YoY); the stock trades near $21 with a market cap of ~$4.44B and an average analyst price target of $22.67 (consensus: Moderate Buy).

Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of Remitly Global, Inc. (NASDAQ:RELY - Free Report) by 44.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 954,064 shares of the financial services provider's stock after purchasing an additional 292,991 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned 0.46% of Remitly Global worth $13,166,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other news, Director Phillip John Riese sold 40,000 shares of Remitly Global stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $20.04, for a total value of $801,600.00. Following the transaction, the director directly owned 122,496 shares in the company, valued at approximately $2,454,819.84. The trade was a 24.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Joshua Hug sold 29,049 shares of Remitly Global stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $17.98, for a total value of $522,301.02. Following the completion of the transaction, the director owned 3,575,733 shares in the company, valued at $64,291,679.34. The trade was a 0.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 12,146,720 shares of company stock valued at $194,410,894 in the last ninety days. Company insiders own 7.50% of the company's stock.

Remitly Global Trading Up 3.0%

Remitly Global stock opened at $21.08 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.30 and a current ratio of 3.30. The business's 50-day simple moving average is $16.81 and its 200-day simple moving average is $15.03. The firm has a market capitalization of $4.44 billion, a PE ratio of 68.00, a PEG ratio of 0.73 and a beta of 0.09. Remitly Global, Inc. has a 52 week low of $12.08 and a 52 week high of $24.70.

Remitly Global (NASDAQ:RELY - Get Free Report) last posted its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.17. The business had revenue of $442.18 million for the quarter, compared to analyst estimates of $427.27 million. Remitly Global had a return on equity of 8.87% and a net margin of 4.15%.The firm's revenue for the quarter was up 25.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.03) earnings per share. Equities research analysts forecast that Remitly Global, Inc. will post 0.51 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on RELY shares. Freedom Capital raised Remitly Global to a "strong-buy" rating in a research report on Wednesday, April 1st. Bank of America started coverage on Remitly Global in a research report on Tuesday, February 10th. They issued a "buy" rating and a $18.00 price target for the company. Oppenheimer set a $20.00 price target on Remitly Global in a research report on Thursday, February 19th. Citigroup reaffirmed an "outperform" rating on shares of Remitly Global in a research report on Thursday, February 19th. Finally, Wall Street Zen cut Remitly Global from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 28th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Remitly Global presently has an average rating of "Moderate Buy" and an average price target of $22.67.

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.

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