RFG Advisory LLC Buys Shares of 41,000 Galaxy Digital Inc. $GLXY

Key Points

• RFG Advisory LLC acquired a new stake in Galaxy Digital Inc. by purchasing 41,000 shares valued at approximately $898,000 during the second quarter.
• Several institutional investors, including CWM LLC and DHJJ Financial Advisors Ltd., have also made new positions in Galaxy Digital in recent months, reflecting growing interest in the company.
• Galaxy Digital has received a series of upgrades from analysts, with a consensus rating of "Buy" and a target price averaging $37.50, indicating potential for future stock appreciation.

RFG Advisory LLC bought a new stake in Galaxy Digital Inc. (NASDAQ:GLXY - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 41,000 shares of the company's stock, valued at approximately $898,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GLXY. CWM LLC purchased a new position in Galaxy Digital in the second quarter valued at about $26,000. DHJJ Financial Advisors Ltd. purchased a new position in Galaxy Digital in the second quarter valued at about $34,000. SJS Investment Consulting Inc. purchased a new position in Galaxy Digital in the second quarter valued at about $77,000. Strategic Investment Solutions Inc. IL purchased a new position in Galaxy Digital in the second quarter valued at about $79,000. Finally, IFP Advisors Inc purchased a new position in Galaxy Digital in the second quarter valued at about $84,000.

Analyst Ratings Changes

A number of research analysts have weighed in on GLXY shares. Wall Street Zen upgraded shares of Galaxy Digital from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Maxim Group started coverage on shares of Galaxy Digital in a research note on Thursday, July 31st. They set a "buy" rating and a $40.00 price target on the stock. BTIG Research restated a "buy" rating and set a $35.00 price target on shares of Galaxy Digital in a research note on Tuesday, August 5th. Canaccord Genuity Group upped their price target 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. Finally, Jefferies Financial Group started coverage on shares of Galaxy Digital in a research note on Wednesday, July 23rd. They set a "buy" rating and a $35.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $37.50.

Insiders Place Their Bets

In other Galaxy Digital news, insider Christopher C. Ferraro sold 750,000 shares of the stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $36.00, for a total value of $27,000,000.00. Following the sale, the insider directly owned 687,921 shares in the company, valued at $24,765,156. This represents a 52.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard Tavoso sold 50,000 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $28.28, for a total transaction of $1,414,000.00. Following the completion of the sale, the director owned 400,000 shares in the company, valued at $11,312,000. This represents a 11.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,183,333 shares of company stock worth $146,851,323.

Galaxy Digital Trading Down 4.8%

NASDAQ GLXY opened at $39.91 on Friday. 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 quick ratio of 1.34 and a current ratio of 1.34. The business has a 50 day moving average price of $30.71.

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 the consensus estimate of ($0.06) by $0.14. The firm had revenue of $8.66 billion during the quarter, compared to analysts' expectations of $13.11 billion.

About Galaxy Digital

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.