Fox Run Management L.L.C. Has $689,000 Stake in Remitly Global, Inc. $RELY

Fox Run Management L.L.C. lowered its position in Remitly Global, Inc. (NASDAQ:RELY) by 52.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,251 shares of the financial services provider’s stock after selling 47,166 shares during the quarter. Fox Run Management L.L.C.’s holdings in Remitly Global were worth $689,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Remitly Global by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,845 shares of the financial services provider’s stock valued at $1,848,000 after purchasing an additional 3,870 shares during the period. Millennium Management LLC increased its position in Remitly Global by 57.1% during the first quarter. Millennium Management LLC now owns 343,352 shares of the financial services provider’s stock worth $7,142,000 after buying an additional 124,798 shares during the last quarter. Caxton Associates LLP bought a new stake in Remitly Global in the first quarter valued at approximately $218,000. Focus Partners Wealth acquired a new stake in shares of Remitly Global in the first quarter valued at approximately $1,458,000. Finally, State of New Jersey Common Pension Fund D lifted its position in shares of Remitly Global by 6.2% in the second quarter. State of New Jersey Common Pension Fund D now owns 83,117 shares of the financial services provider’s stock valued at $1,560,000 after buying an additional 4,860 shares during the last quarter. Institutional investors own 74.25% of the company’s stock.

Remitly Global Stock Down 0.8%

RELY stock opened at $16.70 on Friday. Remitly Global, Inc. has a fifty-two week low of $12.08 and a fifty-two week high of $24.70. The company has a debt-to-equity ratio of 0.18, a current ratio of 3.30 and a quick ratio of 3.30. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of 53.87 and a beta of 0.11. The business’s fifty day moving average price is $14.02 and its two-hundred day moving average price is $15.31.

Remitly Global (NASDAQ:RELY) last released its quarterly earnings results on Wednesday, February 18th. The financial services provider reported $0.19 EPS for the quarter, beating the consensus estimate of $0.02 by $0.17. Remitly Global had a net margin of 4.15% and a return on equity of 8.87%. The business had revenue of $442.18 million for the quarter, compared to the consensus estimate of $427.27 million. During the same period in the prior year, the company posted ($0.03) earnings per share. Remitly Global’s revenue was up 25.7% compared to the same quarter last year. On average, equities analysts anticipate that Remitly Global, Inc. will post -0.04 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Joshua Hug sold 40,776 shares of the business’s stock in a transaction that occurred on 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 sale, the director directly owned 3,654,764 shares in the company, valued at approximately $48,718,004.12. The trade was a 1.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Pankaj Sharma sold 3,000 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $16.35, for a total value of $49,050.00. Following the transaction, the insider owned 215,830 shares in the company, valued at approximately $3,528,820.50. This trade represents a 1.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 53,276 shares of company stock worth $722,999 in the last quarter. Corporate insiders own 7.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on RELY. Weiss Ratings upgraded Remitly Global from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, February 20th. Citigroup reiterated an “outperform” rating on shares of Remitly Global in a report on Thursday, February 19th. Oppenheimer set a $20.00 price objective on shares of Remitly Global in a research report on Thursday, February 19th. Citizens Jmp raised their target price on shares of Remitly Global from $20.00 to $22.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 19th. Finally, Zacks Research upgraded shares of Remitly Global from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $22.78.

Remitly Global 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.