Good Life Advisors LLC Buys New Shares in Galaxy Digital Inc. $GLXY

Good Life Advisors LLC bought a new position in shares of Galaxy Digital Inc. (NASDAQ:GLXY) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 164,728 shares of the company’s stock, valued at approximately $3,608,000.

Other hedge funds also recently bought and sold shares of the company. CWM LLC acquired a new position in shares of Galaxy Digital during the second quarter worth about $26,000. Centerpoint Advisors LLC acquired a new position in Galaxy Digital during the 2nd quarter worth approximately $33,000. DHJJ Financial Advisors Ltd. purchased a new stake in shares of Galaxy Digital in the 2nd quarter valued at approximately $34,000. PNC Financial Services Group Inc. purchased a new stake in shares of Galaxy Digital in the 2nd quarter valued at approximately $53,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Galaxy Digital in the 2nd quarter valued at $60,000.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GLXY. 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 target on the stock. Weiss Ratings lowered Galaxy Digital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. The Goldman Sachs Group boosted their target price on Galaxy Digital from $34.00 to $39.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Morgan Stanley began coverage on shares of Galaxy Digital in a research note on Thursday, November 6th. They issued an “overweight” rating and a $42.00 price target on the stock. Finally, Rosenblatt Securities raised their price objective on shares of Galaxy Digital from $35.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $44.33.

Galaxy Digital Trading Down 2.8%

Shares of NASDAQ GLXY opened at $30.41 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.34 and a current ratio of 1.35. Galaxy Digital Inc. has a 52 week low of $8.20 and a 52 week high of $45.92. The firm has a market cap of $11.44 billion and a PE ratio of 25.34. The company has a 50-day simple moving average of $34.45.

Insider Buying and Selling

In related news, Director Medina Rhonda Adams sold 33,333 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $29.83, for a total value of $994,323.39. Following the completion of the transaction, the director owned 112,053 shares of the company’s stock, valued at approximately $3,342,540.99. The trade was a 22.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Christopher C. Ferraro sold 750,000 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 transaction of $27,000,000.00. Following the sale, the insider owned 687,921 shares of the company’s stock, 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. Insiders sold 3,783,333 shares of company stock worth $135,994,323 in the last ninety days.

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.