Sullivan Wood Capital Management LLC Takes $26.70 Million Position in Galaxy Digital Inc. $GLXY

Key Points

• Sullivan Wood Capital Management LLC has acquired a new position in Galaxy Digital Inc. worth approximately $26.70 million, making it the largest position in their portfolio, constituting 55.7% of their holdings.
• Multiple institutional investors have also initiated or increased their stakes in Galaxy Digital during the second quarter, highlighting growing interest in the company's stock.
• Recent analyst reports show a range of ratings for Galaxy Digital with price targets adjusted between $34.00 and $42.00, reflecting a general optimism towards the company’s performance.

Sullivan Wood Capital Management LLC purchased a new position in shares of Galaxy Digital Inc. (NASDAQ:GLXY - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,219,143 shares of the company's stock, valued at approximately $26,699,000. Galaxy Digital accounts for 55.7% of Sullivan Wood Capital Management LLC's holdings, making the stock its biggest position. Sullivan Wood Capital Management LLC owned about 0.35% of Galaxy Digital at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in GLXY. SJS Investment Consulting Inc. acquired a new position in Galaxy Digital during the 2nd quarter worth approximately $77,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Galaxy Digital in the second quarter worth approximately $79,000. AdvisorNet Financial Inc purchased a new stake in shares of Galaxy Digital in the second quarter worth approximately $125,000. Harbour Capital Advisors LLC purchased a new stake in shares of Galaxy Digital in the second quarter worth approximately $349,000. Finally, Accurate Wealth Management LLC purchased a new stake in shares of Galaxy Digital in the second quarter worth approximately $440,000.

Insider Transactions at Galaxy Digital

In other news, Director Medina Rhonda Adams sold 33,333 shares of Galaxy Digital stock in a transaction dated 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 owned 112,053 shares in the company, valued at approximately $3,342,540.99. The trade was a 22.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard Tavoso sold 50,000 shares of Galaxy Digital stock in a transaction dated 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 in the company, valued at approximately $11,312,000. This represents a 11.11% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 433,333 shares of company stock worth $11,851,323.

Analysts Set New Price Targets

GLXY has been the subject of several analyst reports. Rosenblatt Securities decreased their price target on Galaxy Digital from $36.00 to $35.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Canaccord Genuity Group increased their price target on Galaxy Digital from $33.00 to $34.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Piper Sandler increased their price target on Galaxy Digital from $36.00 to $42.00 and gave the company an "overweight" rating in a research report on Wednesday. Wall Street Zen raised Galaxy Digital from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Finally, Maxim Group began coverage on Galaxy Digital in a research report on Thursday, July 31st. They set a "buy" rating and a $40.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Galaxy Digital has an average rating of "Buy" and an average price target of $36.38.

Galaxy Digital Stock Up 1.9%

Shares of GLXY stock opened at $36.52 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.34 and a quick ratio of 1.34. The business's 50-day moving average price is $28.34. Galaxy Digital Inc. has a 12-month low of $8.20 and a 12-month high of $37.38.

Galaxy Digital (NASDAQ:GLXY - Get Free Report) last issued its quarterly 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 for the quarter, compared to the consensus estimate 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.

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