Remitly Global Inc (NASDAQ: RELY) is -7.57% lower on its value in year-to-date trading and has touched a low of $11.60 and a high of $27.62 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The RELY stock was last observed hovering at around $17.98 in the last trading session, with the day’s loss setting it -0.03%.
Currently trading at $17.95, the stock is 23.94% and 27.89% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.71 million and changing -0.17% at the moment leaves the stock 14.72% off its SMA200. RELY registered -34.94% loss for a year compared to 6-month loss of 20.39%. The firm has a 50-day simple moving average (SMA 50) of $14.0358 and a 200-day simple moving average (SMA200) of $15.647375.
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The stock witnessed a 39.26% gain in the last 1 month and extending the period to 3 months gives it a 36.40%, and is 21.53% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 6.48% over the week and 4.14% over the month.
Remitly Global Inc (RELY) has around 2700 employees, a market worth around $3.55B and $1.18B in sales. Fwd P/E is 22.72. Profit margin for the company is -5.63%. Distance from 52-week low is 54.74% and -35.01% from its 52-week high. The company has generated returns on investments over the last 12 months (-10.41%).
with sales reaching $343.65M over the same period.The EPS is expected to grow by 372.06% this year, but quarterly earnings will post 32.70% year-over-year. Quarterly sales are estimated to grow 29.80% in year-over-year returns.
Remitly Global Inc (RELY) Top Institutional Holders
279.0 institutions hold shares in Remitly Global Inc (RELY), with institutional investors hold 87.53% of the company’s shares. The shares outstanding are 188.44M, and float is at 144.64M with Short Float at 6.81%. Institutions hold 82.37% of the Float.
The top institutional shareholder in the company is NASPERS LTD with over 37.34 million shares valued at $452.58 million. The investor’s holdings represent 19.6692% of the RELY Shares outstanding. As of 2024-06-30, the second largest holder is VANGUARD GROUP INC with 14.07 million shares valued at $170.58 million to account for 7.4136 of the shares outstanding. The other top investors are BLACKROCK INC. which holds 10.77 million shares representing 5.673% and valued at over $130.53 million, while BAILLIE GIFFORD & CO holds 5.3568 of the shares totaling 10.17 million with a market value of $123.26 million.
Remitly Global Inc (RELY) Insider Activity
The most recent transaction is an insider sale by Oppenheimer Matthew B., the company’s Chief Executive Officer. SEC filings show that Oppenheimer Matthew B. sold 40,119 shares of the company’s common stock on Oct 17 ’24 at a price of $14.22 per share for a total of $0.57 million. Following the sale, the insider now owns 4.54 million shares.
Remitly Global Inc disclosed in a document filed with the SEC on Oct 18 ’24 that Oppenheimer Matthew B. (Chief Executive Officer) sold a total of 10,416 shares of the company’s common stock. The trade occurred on Oct 18 ’24 and was made at $14.97 per share for $0.16 million. Following the transaction, the insider now directly holds 4.53 million shares of the RELY stock.
Still, SEC filings show that on Aug 29 ’24, Hug Joshua (Vice Chair) disposed off 22,018 shares at an average price of $13.71 for $0.3 million. The insider now directly holds 3,873,811 shares of Remitly Global Inc (RELY).
