Rovida Investment Management Ltd Invests $33.61 Million in Galaxy Digital Inc. $GLXY

Rovida Investment Management Ltd bought a new stake in shares of Galaxy Digital Inc. (NASDAQ:GLXY) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,536,200 shares of the company’s stock, valued at approximately $33,612,000. Galaxy Digital comprises approximately 6.2% of Rovida Investment Management Ltd’s portfolio, making the stock its 5th largest holding. Rovida Investment Management Ltd owned 0.44% of Galaxy Digital as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of GLXY. CWM LLC purchased a new position in shares of Galaxy Digital during the 2nd quarter valued at approximately $26,000. Centerpoint Advisors LLC purchased a new position in shares of Galaxy Digital in the second quarter valued at approximately $33,000. DHJJ Financial Advisors Ltd. purchased a new stake in shares of Galaxy Digital during the second quarter worth $34,000. FNY Investment Advisers LLC acquired a new stake in shares of Galaxy Digital in the second quarter valued at $60,000. Finally, SJS Investment Consulting Inc. purchased a new position in Galaxy Digital in the second quarter valued at $77,000.

Insider Buying and Selling at Galaxy Digital

In other news, insider Christopher C. Ferraro sold 750,000 shares of the business’s stock in a transaction on Friday, October 10th. The stock was sold at an average price of $36.00, for a total transaction of $27,000,000.00. Following the completion of the sale, the insider owned 687,921 shares in the company, valued at $24,765,156. The trade was a 52.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael Novogratz sold 3,000,000 shares of the company’s stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $36.00, for a total value of $108,000,000.00. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 3,783,333 shares of company stock worth $135,994,323.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GLXY shares. Wall Street Zen raised Galaxy Digital from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Benchmark raised their target price on shares of Galaxy Digital from $40.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Weiss Ratings cut shares of Galaxy Digital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. The Goldman Sachs Group upped their price objective on shares of Galaxy Digital from $34.00 to $39.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Finally, Canaccord Genuity Group boosted their price target on Galaxy Digital from $34.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Galaxy Digital presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.33.

Galaxy Digital Trading Down 3.3%

NASDAQ:GLXY opened at $30.74 on Wednesday. Galaxy Digital Inc. has a 1 year low of $8.20 and a 1 year 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. The firm has a market cap of $11.57 billion and a price-to-earnings ratio of 25.62. The firm has a fifty day moving average price of $34.31.

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.