WoodTrust Financial Corp Has $248,000 Holdings in Remitly Global, Inc. (NASDAQ:RELY)

WoodTrust Financial Corp boosted its stake in Remitly Global, Inc. (NASDAQ:RELY) by 54.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,500 shares of the financial services provider’s stock after purchasing an additional 6,500 shares during the period. WoodTrust Financial Corp’s holdings in Remitly Global were worth $248,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Millennium Management LLC raised its stake in Remitly Global by 108.0% during the second quarter. Millennium Management LLC now owns 3,987,899 shares of the financial services provider’s stock worth $48,333,000 after buying an additional 2,071,026 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Remitly Global by 74.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,488,470 shares of the financial services provider’s stock worth $42,280,000 after acquiring an additional 1,487,680 shares in the last quarter. Herr Investment Group LLC acquired a new position in shares of Remitly Global in the 2nd quarter valued at about $9,285,000. Hood River Capital Management LLC bought a new stake in shares of Remitly Global during the 1st quarter valued at about $12,789,000. Finally, Lord Abbett & CO. LLC grew its stake in Remitly Global by 27.3% during the first quarter. Lord Abbett & CO. LLC now owns 2,470,323 shares of the financial services provider’s stock worth $51,234,000 after purchasing an additional 530,485 shares during the period. 74.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on RELY shares. JMP Securities increased their price target on Remitly Global from $22.00 to $25.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. Wells Fargo & Company upgraded shares of Remitly Global from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $13.00 to $18.00 in a report on Thursday, October 31st. Monness Crespi & Hardt boosted their target price on Remitly Global from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. increased their price target on Remitly Global from $19.00 to $21.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Finally, Barclays upped their target price on Remitly Global from $16.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Remitly Global currently has an average rating of “Moderate Buy” and an average target price of $22.38.

Remitly Global Stock Up 1.9 %

RELY stock opened at $19.73 on Thursday. The stock’s 50 day moving average is $14.38 and its 200-day moving average is $14.00. Remitly Global, Inc. has a twelve month low of $11.60 and a twelve month high of $23.01. The firm has a market capitalization of $3.91 billion, a PE ratio of -56.37 and a beta of 0.03.

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

Insider Activity at Remitly Global

In other Remitly Global news, CEO Matthew B. Oppenheimer sold 40,119 shares of the stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $14.22, for a total value of $570,492.18. Following the completion of the sale, the chief executive officer now owns 4,542,613 shares in the company, valued at approximately $64,595,956.86. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 8.10% of the stock is owned by insiders.

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.