Milestone Asset Management Group LLC Invests $5.97 Million in Galaxy Digital Inc. $GLXY

Milestone Asset Management Group LLC acquired a new stake in shares of Galaxy Digital Inc. (NASDAQ:GLXY) in the second quarter, HoldingsChannel reports. The institutional investor acquired 272,681 shares of the company’s stock, valued at approximately $5,972,000. Galaxy Digital makes up approximately 4.4% of Milestone Asset Management Group LLC’s investment portfolio, making the stock its 2nd largest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GLXY. Sullivan Wood Capital Management LLC bought a new position in Galaxy Digital during the 2nd quarter valued at approximately $26,699,000. Envestnet Asset Management Inc. bought a new position in Galaxy Digital during the 2nd quarter valued at approximately $1,948,000. CORDA Investment Management LLC. bought a new position in Galaxy Digital during the 2nd quarter valued at approximately $1,159,000. RFG Advisory LLC bought a new position in Galaxy Digital during the 2nd quarter valued at approximately $898,000. Finally, Vontobel Holding Ltd. bought a new position in Galaxy Digital during the 2nd quarter valued at approximately $766,000.

Analyst Ratings Changes

GLXY has been the subject of a number of analyst reports. BTIG Research raised their price objective on Galaxy Digital from $35.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. Benchmark increased their target price on Galaxy Digital from $40.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Maxim Group began coverage on Galaxy Digital in a research note on Thursday, July 31st. They set a “buy” rating and a $40.00 target price on the stock. Rosenblatt Securities increased their target price on Galaxy Digital from $35.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, October 20th. Finally, Wall Street Zen upgraded Galaxy Digital from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Two research 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.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $44.63.

Insider Transactions at Galaxy Digital

In other news, CEO Michael Novogratz sold 3,000,000 shares of the firm’s stock in a transaction on Friday, October 10th. The stock was sold at an average price of $36.00, for a total value of $108,000,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Christopher C. Ferraro sold 750,000 shares of the firm’s stock in a transaction on Friday, October 10th. The stock was sold at an average price of $36.00, for a total value of $27,000,000.00. Following the completion of the transaction, the insider owned 687,921 shares in the company, valued at approximately $24,765,156. This trade represents a 52.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 4,183,333 shares of company stock worth $146,851,323.

Galaxy Digital Trading Down 8.0%

Shares of GLXY opened at $37.29 on Wednesday. The company’s fifty day simple moving average is $32.63. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.28. Galaxy Digital Inc. has a 12 month low of $8.20 and a 12 month high of $45.92. The stock has a market cap of $14.03 billion and a P/E ratio of 466.13.

Galaxy Digital (NASDAQ:GLXY) last released its quarterly 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 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.