Tudor Investment Corp ET AL Boosts Position in Remitly Global, Inc. (NASDAQ:RELY)

Tudor Investment Corp ET AL raised its holdings in Remitly Global, Inc. (NASDAQ:RELY - Free Report) by 1,082.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 305,521 shares of the financial services provider's stock after purchasing an additional 279,677 shares during the quarter. Tudor Investment Corp ET AL owned about 0.15% of Remitly Global worth $6,896,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Remitly Global in the 4th quarter worth $66,169,000. Principal Financial Group Inc. lifted its position in Remitly Global by 10,213.8% in the third quarter. Principal Financial Group Inc. now owns 2,020,791 shares of the financial services provider's stock valued at $27,058,000 after purchasing an additional 2,001,198 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Remitly Global by 1,032.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,400,682 shares of the financial services provider's stock valued at $31,614,000 after purchasing an additional 1,276,991 shares during the period. Marshall Wace LLP boosted its holdings in Remitly Global by 146.4% in the 4th quarter. Marshall Wace LLP now owns 1,570,935 shares of the financial services provider's stock valued at $35,456,000 after purchasing an additional 933,253 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in Remitly Global during the 4th quarter worth approximately $19,312,000. 74.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on RELY shares. William Blair reissued an "outperform" rating on shares of Remitly Global in a report on Thursday, February 20th. JPMorgan Chase & Co. raised their target price on Remitly Global from $21.00 to $30.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Wells Fargo & Company boosted their target price on shares of Remitly Global from $21.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 20th. Barclays increased their price target on shares of Remitly Global from $28.00 to $29.00 and gave the company an "overweight" rating in a report on Monday, February 24th. Finally, KeyCorp decreased their price objective on shares of Remitly Global from $33.00 to $24.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $28.50.

Remitly Global Stock Up 3.3 %

Shares of Remitly Global stock traded up $0.67 on Friday, hitting $20.94. The company's stock had a trading volume of 1,308,890 shares, compared to its average volume of 1,969,204. The company has a market capitalization of $4.27 billion, a P/E ratio of -110.21 and a beta of 0.15. Remitly Global, Inc. has a 52-week low of $11.60 and a 52-week high of $27.32. The firm has a fifty day moving average price of $20.55 and a 200-day moving average price of $21.20.

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

Insider Buying and Selling at Remitly Global

In other Remitly Global news, CEO Matthew B. Oppenheimer sold 14,583 shares of the firm's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $25.21, for a total transaction of $367,637.43. Following the sale, the chief executive officer now directly owns 4,358,679 shares of the company's stock, valued at $109,882,297.59. This trade represents a 0.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joshua Hug sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $19.71, for a total transaction of $197,100.00. Following the completion of the transaction, the insider now directly owns 3,823,811 shares of the company's stock, valued at approximately $75,367,314.81. This represents a 0.26 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,166 shares of company stock worth $1,133,685. 8.10% of the stock is 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.