Key Points
- Director Ryno Blignaut sold 4,500 shares for $59,625 on Nov. 26 at an average price of $13.25, cutting his position by 9.77% to 41,576 shares (valued about $550,882); the sale was disclosed in an SEC filing.
- Remitly reported a quarterly beat on Nov. 5 with $0.04 EPS versus $0.02 expected and revenue of $419.5M (up 24.7% year‑over‑year), showing top‑line growth despite slim margins.
- The stock trades around $13.50 with a $2.83B market cap and a 52‑week range of $12.08–$27.32; analysts give a consensus rating of “Moderate Buy” with a $25.88 average target despite recent price‑target cuts.
Remitly Global, Inc. (NASDAQ:RELY - Get Free Report) Director Ryno Blignaut sold 4,500 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $13.25, for a total transaction of $59,625.00. Following the transaction, the director directly owned 41,576 shares of the company's stock, valued at $550,882. This trade represents a 9.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Remitly Global Trading Up 1.4%
Shares of RELY stock opened at $13.53 on Friday. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 150.34 and a beta of 0.10. Remitly Global, Inc. has a 12-month low of $12.08 and a 12-month high of $27.32. The stock's 50-day moving average price is $14.96 and its 200-day moving average price is $17.74.
Remitly Global (NASDAQ:RELY - Get Free Report) last announced its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $0.04 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.02. The company had revenue of $419.49 million during the quarter, compared to analyst estimates of $413.73 million. Remitly Global had a return on equity of 3.12% and a net margin of 1.36%.The firm's revenue was up 24.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.01 earnings per share. Remitly Global has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, research analysts predict that Remitly Global, Inc. will post -0.04 EPS for the current fiscal year.
Analysts Set New Price Targets
RELY has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of Remitly Global from $25.00 to $23.00 and set an "overweight" rating for the company in a research note on Thursday, November 6th. KeyCorp reaffirmed an "overweight" rating and set a $28.00 price objective (up from $27.00) on shares of Remitly Global in a research note on Thursday, August 7th. Wall Street Zen raised Remitly Global from a "hold" rating to a "buy" rating in a research note on Sunday, September 7th. The Goldman Sachs Group reduced their price target on shares of Remitly Global from $26.00 to $21.00 and set a "buy" rating on the stock in a research note on Monday, October 13th. Finally, William Blair reiterated an "outperform" rating on shares of Remitly Global in a report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $25.88.
Read Our Latest Report on RELY
Institutional Trading of Remitly Global
A number of hedge funds have recently added to or reduced their stakes in RELY. Elequin Capital LP bought a new position in Remitly Global during the 1st quarter worth about $30,000. Essex Investment Management Co. LLC purchased a new stake in shares of Remitly Global in the 3rd quarter worth approximately $33,000. First Horizon Corp bought a new position in shares of Remitly Global during the third quarter valued at approximately $36,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Remitly Global during the first quarter valued at approximately $41,000. Finally, Quarry LP purchased a new position in Remitly Global during the third quarter valued at approximately $42,000. 74.25% of the stock is owned by hedge funds and other institutional investors.
About Remitly Global
(
Get Free Report)
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.
Further Reading
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