12,109 Shares in Remitly Global, Inc. (NASDAQ:RELY) Acquired by DHK Financial Advisors Inc.

DHK Financial Advisors Inc. bought a new position in shares of Remitly Global, Inc. (NASDAQ:RELY) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,109 shares of the financial services provider’s stock, valued at approximately $273,000.

Several other hedge funds have also recently added to or reduced their stakes in RELY. Advisors Asset Management Inc. grew its position in Remitly Global by 58.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,962 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 1,466 shares in the last quarter. Assetmark Inc. acquired a new position in Remitly Global during the third quarter valued at $76,000. FMR LLC lifted its stake in Remitly Global by 39.8% in the 3rd quarter. FMR LLC now owns 6,919 shares of the financial services provider’s stock worth $93,000 after acquiring an additional 1,970 shares in the last quarter. KBC Group NV increased its holdings in shares of Remitly Global by 49.7% in the 4th quarter. KBC Group NV now owns 6,121 shares of the financial services provider’s stock valued at $138,000 after purchasing an additional 2,033 shares during the period. Finally, Green Alpha Advisors LLC acquired a new stake in shares of Remitly Global during the third quarter worth approximately $144,000. Institutional investors and hedge funds own 74.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on RELY shares. JMP Securities increased their target price on shares of Remitly Global from $22.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. Barclays boosted their target price on Remitly Global from $20.00 to $23.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Wells Fargo & Company lifted their price target on Remitly Global from $18.00 to $21.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Finally, KeyCorp increased their price objective on Remitly Global from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Remitly Global presently has an average rating of “Moderate Buy” and a consensus target price of $23.13.

Remitly Global Stock Up 1.5 %

Shares of Remitly Global stock opened at $23.50 on Wednesday. Remitly Global, Inc. has a 12-month low of $11.60 and a 12-month high of $23.86. The stock has a 50 day moving average price of $22.08 and a two-hundred day moving average price of $17.26.

Remitly Global (NASDAQ:RELY) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.07. Remitly Global had a negative net margin of 5.63% and a negative return on equity of 11.58%. The business had revenue of $336.53 million for the quarter, compared to analyst estimates of $320.71 million. During the same period last year, the business posted ($0.20) EPS. Remitly Global’s revenue was up 39.3% compared to the same quarter last year. On average, analysts predict that Remitly Global, Inc. will post -0.23 EPS for the current fiscal year.

Insider Transactions at Remitly Global

In related news, CEO Matthew B. Oppenheimer sold 14,583 shares of Remitly Global stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $23.14, for a total transaction of $337,450.62. Following the sale, the chief executive officer now directly owns 4,387,845 shares of the company’s stock, valued at $101,534,733.30. This trade represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joshua Hug sold 22,198 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $20.62, for a total value of $457,722.76. Following the transaction, the insider now owns 3,873,811 shares in the company, valued at $79,877,982.82. This represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,476 shares of company stock worth $1,202,171. Company insiders own 8.10% of the company’s stock.

About Remitly Global

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.