Accurate Wealth Management LLC Takes Position in Galaxy Digital Inc. $GLXY

Key Points

• Accurate Wealth Management LLC acquired a new position in Galaxy Digital Inc., purchasing 21,562 shares valued at approximately $440,000 during the second quarter.
• Galaxy Digital beat analysts' estimates with $0.08 earnings per share for the quarter, despite reported revenue of $8.66 billion which fell short of the $13.11 billion forecast.
• The company's stock is currently rated as a "Buy" by analysts, with price targets ranging from $30.00 to $36.00.

Accurate Wealth Management LLC purchased a new position in shares of Galaxy Digital Inc. (NASDAQ:GLXY - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 21,562 shares of the company's stock, valued at approximately $440,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Harbour Capital Advisors LLC acquired a new stake in Galaxy Digital during the 2nd quarter worth approximately $349,000. AdvisorNet Financial Inc purchased a new stake in shares of Galaxy Digital during the second quarter worth approximately $125,000. Finally, SJS Investment Consulting Inc. acquired a new stake in shares of Galaxy Digital during the second quarter worth $77,000.

Galaxy Digital Price Performance

GLXY stock opened at $32.12 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.28. The business's 50-day moving average is $27.84. Galaxy Digital Inc. has a 52 week low of $8.20 and a 52 week high of $35.79.

Galaxy Digital (NASDAQ:GLXY - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.14. The company had revenue of $8.66 billion for the quarter, compared to analyst estimates of $13.11 billion.

Analyst Ratings Changes

Several equities analysts have issued reports on GLXY shares. Canaccord Genuity Group boosted their price objective on shares of Galaxy Digital from $33.00 to $34.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. The Goldman Sachs Group began coverage on shares of Galaxy Digital in a research note on Thursday, July 31st. They set a "neutral" rating and a $30.00 price target on the stock. Wall Street Zen upgraded shares of Galaxy Digital from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. BTIG Research reiterated a "buy" rating and set a $35.00 target price on shares of Galaxy Digital in a research report on Tuesday, August 5th. Finally, Piper Sandler increased their target price on Galaxy Digital from $34.00 to $36.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Galaxy Digital currently has a consensus rating of "Buy" and a consensus target price of $35.63.

Insider Buying and Selling

In other news, COO Erin Elizabeth Brown sold 350,000 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $26.98, for a total value of $9,443,000.00. Following the completion of the transaction, the chief operating officer owned 198,088 shares in the company, valued at $5,344,414.24. This trade represents a 63.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Medina Rhonda Adams sold 33,333 shares of Galaxy Digital stock in a transaction on Friday, September 12th. The stock was sold at an average price of $29.83, for a total value of $994,323.39. Following the transaction, the director directly owned 112,053 shares of the company's stock, valued at $3,342,540.99. This trade represents a 22.93% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 433,333 shares of company stock valued at $11,851,323.

Galaxy Digital Company Profile

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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