Marshall Wace LLP Raises Stock Position in Remitly Global, Inc. (NASDAQ:RELY)

Marshall Wace LLP boosted its position in shares of Remitly Global, Inc. (NASDAQ:RELY - Free Report) by 146.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,570,935 shares of the financial services provider's stock after acquiring an additional 933,253 shares during the period. Marshall Wace LLP owned 0.79% of Remitly Global worth $35,456,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. XTX Topco Ltd increased its holdings in Remitly Global by 4.0% in the 3rd quarter. XTX Topco Ltd now owns 14,515 shares of the financial services provider's stock worth $194,000 after buying an additional 563 shares during the period. Claro Advisors LLC boosted its holdings in Remitly Global by 5.2% during the fourth quarter. Claro Advisors LLC now owns 12,700 shares of the financial services provider's stock worth $287,000 after buying an additional 629 shares in the last quarter. Sei Investments Co. grew its position in Remitly Global by 4.8% during the fourth quarter. Sei Investments Co. now owns 13,865 shares of the financial services provider's stock valued at $313,000 after buying an additional 636 shares during the period. Values First Advisors Inc. increased its holdings in Remitly Global by 4.4% in the fourth quarter. Values First Advisors Inc. now owns 15,441 shares of the financial services provider's stock valued at $349,000 after buying an additional 653 shares in the last quarter. Finally, Summit Investment Advisors Inc. raised its position in shares of Remitly Global by 4.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 15,617 shares of the financial services provider's stock worth $352,000 after acquiring an additional 717 shares during the period. 74.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Ankur Sinha sold 5,000 shares of Remitly Global stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $19.01, for a total value of $95,050.00. Following the completion of the sale, the insider now owns 397,805 shares in the company, valued at approximately $7,562,273.05. This trade represents a 1.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew B. Oppenheimer sold 14,583 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $25.21, for a total value of $367,637.43. Following the completion of the sale, the chief executive officer now directly owns 4,358,679 shares in the company, valued at approximately $109,882,297.59. The trade was a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,166 shares of company stock valued at $1,133,685 in the last 90 days. Company insiders own 8.10% of the company's stock.

Remitly Global Price Performance

NASDAQ RELY traded up $0.29 during trading hours on Thursday, hitting $19.92. 378,363 shares of the company's stock traded hands, compared to its average volume of 1,971,166. The firm's 50-day moving average is $21.28 and its 200-day moving average is $20.81. Remitly Global, Inc. has a 52-week low of $11.60 and a 52-week high of $27.32. The company has a market capitalization of $4.00 billion, a PE ratio of -104.55 and a beta of 0.15.

Remitly Global (NASDAQ:RELY - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported ($0.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.04. The business had revenue of $351.90 million during the quarter, compared to analyst estimates of $343.67 million. Remitly Global had a negative return on equity of 6.10% and a negative net margin of 2.93%. Equities research analysts predict that Remitly Global, Inc. will post -0.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on RELY shares. William Blair reaffirmed an "outperform" rating on shares of Remitly Global in a report on Thursday, February 20th. The Goldman Sachs Group cut their price target on shares of Remitly Global from $33.00 to $26.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. JPMorgan Chase & Co. increased their price objective on shares of Remitly Global from $21.00 to $30.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Barclays boosted their target price on shares of Remitly Global from $28.00 to $29.00 and gave the stock an "overweight" rating in a research note on Monday, February 24th. Finally, BMO Capital Markets raised their price target on shares of Remitly Global from $27.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday, February 20th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $28.50.

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.