Remitly Global, Inc. (NASDAQ:RELY - Get Free Report) Director Joshua Hug sold 5,500 shares of the company's stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $21.43, for a total value of $117,865.00. Following the sale, the director owned 2,642,389 shares in the company, valued at approximately $56,626,396.27. The trade was a 0.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Joshua Hug also recently made the following trade(s):
- On Tuesday, October 6th, Joshua Hug sold 5,500 shares of Remitly Global stock. The stock was sold at an average price of $23.18, for a total value of $127,490.00.
- On Tuesday, September 8th, Joshua Hug sold 5,500 shares of Remitly Global stock. The stock was sold at an average price of $25.03, for a total value of $137,665.00.
- On Tuesday, August 11th, Joshua Hug sold 5,500 shares of Remitly Global stock. The shares were sold at an average price of $23.65, for a total value of $130,075.00.
Remitly Global Stock Up 3.6%
RELY traded up $0.77 during trading on Friday, hitting $22.32. The company's stock had a trading volume of 3,866,619 shares, compared to its average volume of 2,490,430. The firm has a market capitalization of $4.72 billion, a P/E ratio of 13.53 and a beta of 0.46. Remitly Global, Inc. has a twelve month low of $12.08 and a twelve month high of $28.00. The stock's fifty day moving average price is $23.59 and its 200-day moving average price is $20.71.
Remitly Global (NASDAQ:RELY - Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The financial services provider reported $0.30 EPS for the quarter, topping the consensus estimate of $0.15 by $0.15. The company had revenue of $509.84 million during the quarter, compared to the consensus estimate of $507.31 million. Remitly Global had a net margin of 16.85% and a return on equity of 33.33%. The company's quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.04 EPS. Equities research analysts expect that Remitly Global, Inc. will post 0.85 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the stock. Wall Street Zen downgraded shares of Remitly Global from a "buy" rating to a "hold" rating in a research note on Saturday. Wolfe Research increased their price objective on shares of Remitly Global from $31.00 to $32.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 25th. Citigroup reissued an "outperform" rating on shares of Remitly Global in a research report on Thursday, August 6th. Cantor Fitzgerald raised their target price on Remitly Global from $28.00 to $30.00 and gave the company an "overweight" rating in a research note on Monday, August 10th. Finally, Citizens Jmp boosted their target price on Remitly Global from $30.00 to $32.00 and gave the company a "market outperform" rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $27.78.
View Our Latest Research Report on RELY
Institutional Investors Weigh In On Remitly Global
A number of institutional investors and hedge funds have recently made changes to their positions in RELY. Summit Securities Group LLC bought a new position in Remitly Global in the 1st quarter valued at about $26,000. IFP Advisors Inc boosted its stake in Remitly Global by 59.1% during the 2nd quarter. IFP Advisors Inc now owns 1,419 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 527 shares during the last quarter. Nykredit A S bought a new stake in Remitly Global during the 2nd quarter worth approximately $40,000. GAMMA Investing LLC increased its holdings in Remitly Global by 45.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,167 shares of the financial services provider's stock worth $49,000 after purchasing an additional 677 shares in the last quarter. Finally, Essential Partners LLC increased its holdings in Remitly Global by 181.8% during the 1st quarter. Essential Partners LLC now owns 3,280 shares of the financial services provider's stock worth $51,000 after purchasing an additional 2,116 shares in the last quarter. Institutional investors and hedge funds own 74.25% of the company's stock.
Key Remitly Global News
Here are the key news stories impacting Remitly Global this week:
- Positive Sentiment: Remitly reported record third-quarter growth and beat earnings and revenue estimates. Earnings were $0.48 per share versus the Zacks consensus of $0.33, while revenue of $509.8 million topped estimates of $507.3 million. Article: Remitly Global Tops Q3 Earnings and Revenue Estimates
- Positive Sentiment: Management raised its 2026 outlook after the strong quarter, citing AI-driven efficiency, higher transaction volumes and expansion of payment services. It expects fourth-quarter revenue of $531 million to $533 million and outlined high-teens growth for 2027, bolstering the growth outlook. Article: RELY Q3 Earnings Call Highlights Growth and Higher Outlook
- Neutral Sentiment: Remitly’s management will participate in an investor conference and post-earnings webinar on November 9. The events may provide more detail on results and guidance but are not, by themselves, a change to the company’s outlook. Article: Remitly Announces Upcoming Webinar and Investor Conference Participation
- Negative Sentiment: Put-option trading was unusually active, with 2,262 puts purchased—134% above typical volume. This may reflect bearish positioning or hedging, though options activity alone does not establish a clear view of the stock’s direction.
About Remitly Global
(
Get Free Report)
Remitly Global, Inc is a digital financial services company that enables consumers to send money internationally. Its platform is designed primarily for immigrants and other customers who regularly transfer funds to family and friends in their countries of origin.
Through its mobile application and website, Remitly allows users to initiate cross-border remittances and select delivery options such as bank deposits, mobile-wallet transfers, cash pickup and, in some markets, home delivery.
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