Key Points
- Director Joshua Hug sold 40,776 shares on Dec. 1 at an average price of $13.33 for about $543,544, trimming his stake by 1.10% to 3,654,764 shares (SEC Form 4 filing).
- Q3 results beat expectations: Remitly reported $0.04 EPS vs. $0.02 consensus and revenue of $419.49 million (up 24.7% year-over-year), with net margin 1.36% and ROE 3.12%.
- The stock opened near $13.23 (one-year low $12.08), has a market cap of $2.77 billion, and carries a MarketBeat consensus rating of “Moderate Buy” with a target price of $25.88 while trading down about 2.4%.
Remitly Global, Inc. (NASDAQ:RELY - Get Free Report) Director Joshua Hug sold 40,776 shares of the company's stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $13.33, for a total value of $543,544.08. Following the completion of the transaction, the director directly owned 3,654,764 shares of the company's stock, valued at approximately $48,718,004.12. The trade was a 1.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Remitly Global Trading Down 2.4%
NASDAQ:RELY opened at $13.23 on Tuesday. The stock's 50-day moving average is $14.89 and its 200-day moving average is $17.59. Remitly Global, Inc. has a 1-year low of $12.08 and a 1-year high of $27.32. The stock has a market cap of $2.77 billion, a P/E ratio of 147.00 and a beta of 0.11.
Remitly Global (NASDAQ:RELY - Get Free Report) last issued its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.02. Remitly Global had a net margin of 1.36% and a return on equity of 3.12%. The business had revenue of $419.49 million during the quarter, compared to analyst estimates of $413.73 million. During the same quarter last year, the business earned $0.01 EPS. The firm's quarterly revenue was up 24.7% on a year-over-year basis. Remitly Global has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, equities analysts forecast that Remitly Global, Inc. will post -0.04 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in RELY. Townsquare Capital LLC grew its stake in Remitly Global by 2.5% in the first quarter. Townsquare Capital LLC now owns 18,903 shares of the financial services provider's stock valued at $393,000 after acquiring an additional 459 shares during the period. California State Teachers Retirement System lifted its holdings in shares of Remitly Global by 0.5% in the 2nd quarter. California State Teachers Retirement System now owns 135,843 shares of the financial services provider's stock worth $2,550,000 after purchasing an additional 679 shares in the last quarter. Exchange Traded Concepts LLC grew its position in Remitly Global by 29.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 3,098 shares of the financial services provider's stock valued at $50,000 after purchasing an additional 714 shares during the period. Xponance Inc. grew its position in Remitly Global by 8.7% in the 3rd quarter. Xponance Inc. now owns 13,291 shares of the financial services provider's stock valued at $217,000 after purchasing an additional 1,060 shares during the period. Finally, AlphaQuest LLC increased its stake in Remitly Global by 34.4% during the 3rd quarter. AlphaQuest LLC now owns 4,359 shares of the financial services provider's stock valued at $71,000 after purchasing an additional 1,115 shares in the last quarter. Institutional investors own 74.25% of the company's stock.
Analysts Set New Price Targets
Several research analysts recently issued reports on RELY shares. Wall Street Zen raised Remitly Global from a "hold" rating to a "buy" rating in a research report on Sunday, September 7th. William Blair restated an "outperform" rating on shares of Remitly Global in a research report on Friday, October 10th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Remitly Global in a report on Friday. The Goldman Sachs Group decreased their target price on shares of Remitly Global from $26.00 to $21.00 and set a "buy" rating for the company in a research report on Monday, October 13th. Finally, Zacks Research upgraded shares of Remitly Global from a "hold" rating to a "strong-buy" rating in a report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.88.
Get Our Latest Stock Report on Remitly Global
Remitly Global Company Profile
(
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
