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Reliance Global Group Inc - RELI STOCK NEWS

Welcome to our dedicated news page for Reliance Global Group (Ticker: RELI), a resource for investors and traders seeking the latest updates and insights on Reliance Global Group.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Reliance Global Group's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Reliance Global Group's position in the market.

Rhea-AI Summary
Reliance Global Group Inc. (NASDAQ: RELI) will be participating in the EF Hutton Annual Global Conference on May 15, 2024, at The Plaza Hotel in New York. CEO Ezra Beyman will be presenting, with management also holding one-on-one investor meetings. Interested parties can register to attend.
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Rhea-AI Summary
Reliance Global Group, Inc. reports a 17% revenue increase in 2023, with 67% attributed to organic growth and 33% to acquisitions. The net loss was $12.0 million due to non-core operating expenses, but AEBITDA improved by 75% to $687,000. The company's financial highlights show positive growth momentum and strong performance, with a focus on strategic acquisitions in the insurance agency market.
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43.24%
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Rhea-AI Summary
Reliance Global Group, Inc. (NASDAQ: RELI) will host a conference call to discuss Q4 2023 financial results and business update on April 4, 2024. The call will be available via phone and webcast, with replays accessible online and by phone.
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3.64%
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Reliance Global Group, Inc. (Nasdaq: RELI) has announced the addition of the RELI Exchange Client Referral Portal (CRP) to its InsurTech platform, RELI Exchange. This new feature aims to help agency partners establish connections with professional service providers and streamline the referral process. The CRP allows agency partners to generate unique affiliate links for referral partners, monitor the status of referrals, and recognize successful referral sources. Moshe Fishman, Director of Insurtech and Operations, emphasized the value of this new feature in enhancing the RELI Exchange experience for agency partners and the positive industry feedback it has received.
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-7.98%
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Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) reports a more than 60% increase in total RELI Exchange policies after onboarding Fortman Insurance under the new 'One-Firm' approach. The company has added two new insurance carriers, bringing the total to 35 carriers on the RELI Exchange platform. Additionally, there are now 365 agents on the platform, positioning RELI Exchange for further growth heading into 2024.
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-5.75%
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Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) has announced its intention to acquire a leading benefits enrollment company, which is expected to more than double its current revenue and provide attractive EBITDA returns. The target company is projected to generate over $21 million in revenue during fiscal year 2024, increasing Reliance's expected consolidated revenue by more than 100% to $35 million, resulting in significant cash flow for the combined companies in 2024 and beyond.
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-5.35%
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Reliance Global Group, Inc. (RELI) withdraws underwritten public offering, CEO Ezra Beyman commits to fund cash needs if necessary.
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End-of-Day
-5.35%
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Rhea-AI Summary
Reliance Global Group, Inc. (NASDAQ: RELI) has announced the commencement of an underwritten public offering to raise capital for working and general corporate purposes. The company plans to utilize the net proceeds from the offering to facilitate its growth. EF Hutton LLC is the sole book-running manager for the offering, with legal counsel provided by Anthony L.G., PLLC for Reliance Global and Sichenzia Ross Ference Carmel LLP for EF Hutton. The offering is being made under a 'shelf' registration statement on Form S-3 (File No. 333-275190) declared effective by the SEC on November 7, 2023. The preliminary prospectus supplement, final prospectus supplement, and accompanying prospectus will be available on the SEC's website or by contacting EF Hutton.
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-5.35%
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Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) consolidates all owned agencies under the RELI Exchange brand, aiming for enhanced efficiencies, cross talent utilization, and cross-selling. The move is expected to fortify relationships with carriers, increase business volume, and propel agency partners. Early financial benefits are evident, with a 19% year-over-year revenue increase and decreased operational losses by more than 21% in the first nine months of 2023. The 'OneFirm' strategy positions the company for rapid scalability and seamless integration of accretive acquisitions, leveraging the potential of the expanding U.S. insurance market.
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-4.39%
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Rhea-AI Summary
Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) reported a 16% and 19% year-over-year increase in revenue for the third quarter and first nine months of 2023, driven by organic expansion and the acquisition of Barra Associates. Operational losses decreased by over 21% in the first nine months of 2023, and working capital increased by $5.4 million, or 117%, as of September 30, 2023. The company is focusing on consolidating its standalone agencies under RELI Exchange and is optimistic about long-term growth.
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3.74%
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Reliance Global Group Inc

Nasdaq:RELI

RELI Rankings

RELI Stock Data

1.90M
4.77M
11.66%
5.71%
0.88%
Insurance Agencies and Brokerages
Finance and Insurance
Link
United States
Lakewood

About RELI

official twitter page of publicly traded company reliance global group, inc that trades under $reli