Quantinno Capital Management LP Raises Holdings in Remitly Global, Inc. $RELY

Quantinno Capital Management LP raised its stake in Remitly Global, Inc. (NASDAQ:RELY) by 76.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,963 shares of the financial services provider’s stock after purchasing an additional 52,072 shares during the period. Quantinno Capital Management LP’s holdings in Remitly Global were worth $1,880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Summit Securities Group LLC acquired a new stake in Remitly Global in the first quarter valued at $26,000. Torren Management LLC purchased a new stake in Remitly Global in the fourth quarter valued at approximately $25,000. Cullen Frost Bankers Inc. acquired a new stake in Remitly Global during the 4th quarter worth $28,000. HighMark Wealth Management LLC acquired a new stake in shares of Remitly Global during the fourth quarter worth about $35,000. Finally, Quarry LP acquired a new stake in Remitly Global during the 3rd quarter worth approximately $42,000. 74.25% of the stock is owned by hedge funds and other institutional investors.

Remitly Global Trading Up 2.0%

RELY stock opened at $23.61 on Wednesday. The firm has a 50 day moving average of $22.35 and a 200-day moving average of $19.25. The company has a market cap of $5.00 billion, a price-to-earnings ratio of 16.99 and a beta of 0.34. Remitly Global, Inc. has a 12-month low of $12.08 and a 12-month high of $27.15.

Remitly Global (NASDAQ:RELY) last released its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.81. Remitly Global had a return on equity of 33.33% and a net margin of 16.85%.The business had revenue of $495.16 million for the quarter, compared to analysts’ expectations of $486.25 million. During the same quarter in the prior year, the firm posted $0.03 EPS. The company’s revenue was up 20.2% compared to the same quarter last year. Sell-side analysts forecast that Remitly Global, Inc. will post 0.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RELY shares. KeyCorp lifted their target price on shares of Remitly Global from $28.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Weiss Ratings upgraded shares of Remitly Global from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, June 3rd. The Goldman Sachs Group raised their price objective on shares of Remitly Global from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Wolfe Research reaffirmed an “outperform” rating and issued a $31.00 price objective on shares of Remitly Global in a report on Thursday, August 6th. Finally, Citizens Jmp boosted their target price on Remitly Global from $30.00 to $32.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Remitly Global has a consensus rating of “Moderate Buy” and a consensus price target of $27.67.

Remitly Global News Summary

Here are the key news stories impacting Remitly Global this week:

• Positive Sentiment: Cantor Fitzgerald raised its price target for Remitly Global from $28 to $30 and maintained an “overweight” rating, implying substantial potential upside. The upgrade reflects confidence in the company’s growth prospects and remittance-business initiatives. StreetInsider analyst price-target article
• Positive Sentiment: A recent management discussion highlighted key initiatives, remittance-business performance and potential growth accelerators. While the transcript did not provide a new financial forecast in the supplied report, the focus on expansion and operating execution may reinforce the constructive investor outlook. Remitly Global initiatives and growth transcript
• Neutral Sentiment: Reported short interest was listed at zero shares, with a zero-day short-interest ratio. Because the figures show no measurable short position and the reported percentage change is not meaningful, this data offers little directional information for RELY.
• Negative Sentiment: Director Phillip John Riese sold 100,000 shares on August 11 at an average price of $23.73, reducing his direct ownership by 27.69%. The sale follows his disposal of 160,182 shares on August 7, representing a combined transaction value of approximately $6.37 million and potentially signaling profit-taking or reduced insider exposure. SEC insider transaction filing
• Negative Sentiment: Director Nigel W. Morris sold 8,938 shares at an average price of $25.43. The sale reduced his direct stake by only 0.47%, making it less significant than Riese’s transactions, but it adds to the recent pattern of insider selling. SEC insider transaction filing

Insider Activity at Remitly Global

In other news, Director Nigel W. Morris sold 8,938 shares of Remitly Global stock in a transaction on Friday, August 7th. The stock was sold at an average price of $25.43, for a total transaction of $227,293.34. Following the completion of the transaction, the director owned 1,882,056 shares of the company’s stock, valued at $47,860,684.08. The trade was a 0.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Joshua Hug sold 16,800 shares of Remitly Global stock in a transaction on Monday, June 29th. The stock was sold at an average price of $22.97, for a total value of $385,896.00. Following the transaction, the director directly owned 3,385,457 shares of the company’s stock, valued at $77,763,947.29. This trade represents a 0.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 405,125 shares of company stock valued at $9,464,949 in the last 90 days. 6.53% of the stock is owned by corporate insiders.

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.