FNY Investment Advisers LLC Makes New Investment in Galaxy Digital Inc. $GLXY

FNY Investment Advisers LLC bought a new position in shares of Galaxy Digital Inc. (NASDAQ:GLXY) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,741 shares of the company’s stock, valued at approximately $60,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC acquired a new stake in Galaxy Digital during the second quarter worth $26,000. DHJJ Financial Advisors Ltd. acquired a new stake in shares of Galaxy Digital in the second quarter valued at $34,000. SJS Investment Consulting Inc. acquired a new stake in shares of Galaxy Digital in the second quarter valued at $77,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Galaxy Digital in the second quarter valued at $79,000. Finally, IFP Advisors Inc acquired a new stake in shares of Galaxy Digital in the second quarter valued at $84,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Piper Sandler lifted their price objective on Galaxy Digital from $36.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, October 1st. BTIG Research lifted their price objective on Galaxy Digital from $35.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday. Rosenblatt Securities lifted their price objective on Galaxy Digital from $35.00 to $44.00 and gave the company a “buy” rating in a research note on Monday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Galaxy Digital in a research note on Wednesday, October 8th. Finally, Maxim Group initiated coverage on Galaxy Digital in a research note on Thursday, July 31st. They issued a “buy” rating and a $40.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $44.63.

Galaxy Digital Trading Up 3.4%

NASDAQ:GLXY opened at $38.60 on Friday. The company has a fifty day moving average of $31.81. Galaxy Digital Inc. has a 12-month low of $8.20 and a 12-month high of $45.92. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.28.

Galaxy Digital (NASDAQ:GLXY) last released its 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 during the quarter, compared to analysts’ expectations of $13.11 billion.

Insider Activity at Galaxy Digital

In other Galaxy Digital 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 transaction of $994,323.39. Following the completion of the sale, the director directly owned 112,053 shares of the company’s stock, valued at $3,342,540.99. The trade was a 22.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Novogratz sold 3,000,000 shares of Galaxy Digital stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $36.00, for a total value of $108,000,000.00. The disclosure for this sale can be found here. Insiders sold 4,183,333 shares of company stock worth $146,851,323 over the last three months.

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.