Remitly Global, Inc. $RELY Stock Holdings Reduced by First Eagle Investment Management LLC

First Eagle Investment Management LLC cut its position in shares of Remitly Global, Inc. (NASDAQ:RELY) by 2.4% in the second quarter, Holdings Channel reports. The firm owned 460,516 shares of the financial services provider’s stock after selling 11,400 shares during the period. First Eagle Investment Management LLC’s holdings in Remitly Global were worth $8,644,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Elequin Capital LP bought a new stake in shares of Remitly Global in the 1st quarter valued at approximately $30,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Remitly Global during the first quarter valued at approximately $41,000. Caitong International Asset Management Co. Ltd acquired a new stake in Remitly Global in the first quarter valued at approximately $66,000. Flaharty Asset Management LLC bought a new stake in Remitly Global in the first quarter worth approximately $94,000. Finally, AlphaQuest LLC acquired a new position in shares of Remitly Global during the 1st quarter worth $203,000. 74.25% of the stock is currently owned by institutional investors and hedge funds.

Remitly Global Price Performance

Remitly Global stock opened at $12.71 on Friday. Remitly Global, Inc. has a fifty-two week low of $12.16 and a fifty-two week high of $27.32. The firm has a fifty day moving average price of $16.70 and a two-hundred day moving average price of $18.62. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of 141.22 and a beta of 0.10.

Remitly Global (NASDAQ:RELY) last posted its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. Remitly Global had a return on equity of 3.20% and a net margin of 1.36%.The business had revenue of $419.49 million for the quarter, compared to analyst estimates of $413.73 million. During the same period in the previous year, the company posted $0.01 earnings per share. The firm’s revenue for the quarter 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, sell-side analysts expect that Remitly Global, Inc. will post -0.04 earnings per share for the current year.

Insiders Place Their Bets

In other Remitly Global news, CEO Matthew B. Oppenheimer sold 14,583 shares of Remitly Global stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $15.59, for a total value of $227,348.97. Following the transaction, the chief executive officer directly owned 4,515,188 shares of the company’s stock, valued at $70,391,780.92. The trade was a 0.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Pankaj Sharma sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $19.71, for a total value of $98,550.00. Following the transaction, the insider owned 186,926 shares of the company’s stock, valued at approximately $3,684,311.46. This trade represents a 2.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 93,943 shares of company stock valued at $1,696,348. Corporate insiders own 7.50% of the company’s stock.

Analysts Set New Price Targets

RELY has been the subject of several analyst reports. KeyCorp reaffirmed an “overweight” rating and issued a $28.00 price objective (up previously from $27.00) on shares of Remitly Global in a research note on Thursday, August 7th. JMP Securities cut their target price on Remitly Global from $32.00 to $23.00 and set a “market outperform” rating on the stock in a report on Monday, September 15th. JPMorgan Chase & Co. reduced their price target on Remitly Global from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Thursday. The Goldman Sachs Group decreased their price target on Remitly Global from $26.00 to $21.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Finally, William Blair reissued an “outperform” rating on shares of Remitly Global in a research note on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Remitly Global has an average rating of “Moderate Buy” and an average price target of $25.88.

Remitly Global Company 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.