Concurrent Investment Advisors LLC Buys Shares of 13,672 Galaxy Digital Inc. $GLXY

Key Points

• Concurrent Investment Advisors LLC acquired 13,672 shares of Galaxy Digital Inc. ($GLXY), valued at approximately $299,000, during the second quarter.
• Analysts have set a consensus price target of $37.50 for Galaxy Digital, with multiple firms issuing buy ratings and price objectives ranging from $34.00 to $40.00.
• Insider transactions have seen significant sales, with directors selling over 4 million shares worth about $146.8 million in the last 90 days.

Concurrent Investment Advisors LLC bought a new stake in Galaxy Digital Inc. (NASDAQ:GLXY - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 13,672 shares of the company's stock, valued at approximately $299,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GLXY. Sullivan Wood Capital Management LLC purchased a new position in Galaxy Digital in the 2nd quarter valued at about $26,699,000. Vontobel Holding Ltd. purchased a new position in Galaxy Digital in the 2nd quarter valued at about $766,000. Accurate Wealth Management LLC purchased a new position in Galaxy Digital in the 2nd quarter valued at about $440,000. Harbour Capital Advisors LLC acquired a new position in shares of Galaxy Digital during the 2nd quarter valued at about $349,000. Finally, Belpointe Asset Management LLC acquired a new position in shares of Galaxy Digital during the 2nd quarter valued at about $280,000.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. BTIG Research reaffirmed a "buy" rating and set a $35.00 price objective on shares of Galaxy Digital in a research note on Tuesday, August 5th. Jefferies Financial Group assumed coverage on shares of Galaxy Digital in a research note on Wednesday, July 23rd. They set a "buy" rating and a $35.00 price objective for the company. Canaccord Genuity Group upped 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. Wall Street Zen raised shares of Galaxy Digital from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Finally, Benchmark upped their price objective on shares of Galaxy Digital from $38.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $37.50.

Insider Transactions at Galaxy Digital

In other Galaxy Digital news, Director Medina Rhonda Adams sold 33,333 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director owned 112,053 shares in the company, valued at $3,342,540.99. This represents a 22.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard Tavoso sold 50,000 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $28.28, for a total value of $1,414,000.00. Following the completion of the transaction, the director owned 400,000 shares of the company's stock, valued at approximately $11,312,000. This represents a 11.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,183,333 shares of company stock worth $146,851,323 over the last 90 days.

Galaxy Digital Price Performance

GLXY opened at $37.78 on Monday. The business's 50 day simple moving average is $30.91. Galaxy Digital Inc. has a 1 year low of $8.20 and a 1 year high of $44.33. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.34 and a quick ratio of 1.34.

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

Galaxy Digital 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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