Cidel Asset Management Inc. bought a new position in Galaxy Digital Inc. (NASDAQ:GLXY - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 25,011 shares of the company's stock, valued at approximately $548,000.
A number of other hedge funds have also added to or reduced their stakes in the stock. Sullivan Wood Capital Management LLC purchased a new stake in Galaxy Digital during the 2nd quarter valued at $26,699,000. RFG Advisory LLC purchased a new stake in Galaxy Digital during the 2nd quarter valued at $898,000. Vontobel Holding Ltd. purchased a new stake in Galaxy Digital during the 2nd quarter valued at $766,000. Accurate Wealth Management LLC purchased a new stake in Galaxy Digital during the 2nd quarter valued at $440,000. Finally, Harbour Capital Advisors LLC purchased a new stake in Galaxy Digital during the 2nd quarter valued at $349,000.
Galaxy Digital Stock Performance
Shares of GLXY stock opened at $37.78 on Monday. Galaxy Digital Inc. has a one year low of $8.20 and a one year high of $44.33. The company's fifty day moving average price is $30.91. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.34 and a current ratio of 1.34.
Galaxy Digital (NASDAQ:GLXY - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.14. The firm had revenue of $8.66 billion for the quarter, compared to the consensus estimate of $13.11 billion.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on GLXY shares. BTIG Research reiterated a "buy" rating and issued a $35.00 price target on shares of Galaxy Digital in a research report on Tuesday, August 5th. Wall Street Zen upgraded shares of Galaxy Digital from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. The Goldman Sachs Group increased their price target on shares of Galaxy Digital from $34.00 to $39.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 14th. Rosenblatt Securities decreased their price target on shares of Galaxy Digital from $36.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Finally, Piper Sandler increased their price target on shares of Galaxy Digital from $36.00 to $42.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $37.50.
Read Our Latest Report on GLXY
Insider Buying and Selling
In other Galaxy Digital news, Director Richard Tavoso sold 50,000 shares of Galaxy Digital stock in a transaction on Friday, August 8th. The shares were sold at an average price of $28.28, for a total value of $1,414,000.00. Following the sale, the director directly owned 400,000 shares in the company, valued at approximately $11,312,000. The trade was a 11.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Erin Elizabeth Brown sold 350,000 shares of Galaxy Digital stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $26.98, for a total transaction of $9,443,000.00. Following the completion of the sale, the chief operating officer owned 198,088 shares in the company, valued at approximately $5,344,414.24. This represents a 63.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,183,333 shares of company stock worth $146,851,323 in the last 90 days.
Galaxy Digital Profile
(
Free Report)
Galaxy Digital Holdings Ltd. is a financial services and an investment management company, which engages in the digital asset, cryptocurrency, and block chain technology sectors. It operates through the following segments: Trading, Principal Investment, Asset Management, Investment Banking, Mining, and Corporate & Other.
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