Remitly Global, Inc. (NASDAQ:RELY – Get Free Report) Director Nigel Morris sold 3,249 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $26.53, for a total value of $86,195.97. Following the sale, the director owned 1,827,807 shares in the company, valued at approximately $48,491,719.71. The trade was a 0.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Remitly Global Price Performance
Remitly Global stock traded down $0.38 during midday trading on Wednesday, hitting $25.06. 2,289,764 shares of the company were exchanged, compared to its average volume of 3,982,239. The company has a market cap of $5.30 billion, a PE ratio of 18.03 and a beta of 0.34. Remitly Global, Inc. has a fifty-two week low of $12.08 and a fifty-two week high of $27.15. The company’s fifty day moving average price is $23.01 and its 200-day moving average price is $19.66.
Remitly Global (NASDAQ:RELY – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.81. Remitly Global had a net margin of 16.85% and a return on equity of 33.33%. The company had revenue of $495.16 million during the quarter, compared to the consensus estimate of $486.25 million. During the same quarter last year, the company earned $0.03 earnings per share. Remitly Global’s revenue for the quarter was up 20.2% on a year-over-year basis. On average, analysts expect that Remitly Global, Inc. will post 0.85 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Get Our Latest Stock Analysis on Remitly Global
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in RELY. BlackRock Inc. bought a new stake in shares of Remitly Global in the 2nd quarter worth about $410,752,000. Marshall Wace LLP lifted its position in shares of Remitly Global by 30.4% during the fourth quarter. Marshall Wace LLP now owns 5,995,712 shares of the financial services provider’s stock worth $82,741,000 after purchasing an additional 1,396,568 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Remitly Global by 86.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 5,554,016 shares of the financial services provider’s stock worth $90,530,000 after purchasing an additional 2,567,446 shares in the last quarter. Bank of America Corp DE grew its stake in Remitly Global by 471.7% in the first quarter. Bank of America Corp DE now owns 5,153,726 shares of the financial services provider’s stock worth $80,759,000 after purchasing an additional 4,252,294 shares in the last quarter. Finally, Generation Investment Management LLP bought a new stake in Remitly Global in the second quarter valued at about $109,637,000. 74.25% of the stock is owned by institutional investors and hedge funds.
Remitly Global Company Profile
Remitly Global, Inc operates as a digital financial services company specializing in cross-border money transfers. Through its proprietary online platform and mobile applications, the company enables immigrants, expatriates and international workers to send remittances swiftly and securely to their families abroad. By focusing on fast deliverability and transparent pricing, Remitly seeks to streamline a process traditionally dominated by cash-based methods and legacy money transfer operators.
Founded in 2011 by Matt Oppenheimer and headquartered in Seattle, Washington, Remitly has grown from a startup into a publicly traded corporation listed on NASDAQ under the ticker RELY.
Featured Stories
- Five stocks we like better than Remitly Global
- Bloom Energy’s AI Surge Meets a Valuation Reality Check
- Target Is Winning Shoppers Back—Can the Rally Reach $180?
- IonQ’s Space Contract Points to a New Frontier for Quantum Investors
- Is Apple’s AI Strategy Smarter Than Skeptics Think?
Receive News & Ratings for Remitly Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Remitly Global and related companies with MarketBeat.com's FREE daily email newsletter.
