Rovida Investment Management Ltd Purchases New Position in Galaxy Digital Inc. $GLXY

Rovida Investment Management Ltd bought a new position in shares of Galaxy Digital Inc. (NASDAQ:GLXY) during the second quarter, HoldingsChannel.com reports. The firm bought 1,536,200 shares of the company’s stock, valued at approximately $33,612,000. Galaxy Digital accounts for approximately 6.2% of Rovida Investment Management Ltd’s portfolio, making the stock its 5th biggest position.

Other institutional investors and hedge funds have also modified their holdings of the company. CWM LLC bought a new stake in shares of Galaxy Digital in the 2nd quarter valued at $26,000. Centerpoint Advisors LLC purchased a new position in shares of Galaxy Digital in the 2nd quarter worth about $33,000. DHJJ Financial Advisors Ltd. bought a new position in Galaxy Digital during the second quarter valued at $34,000. FNY Investment Advisers LLC bought a new position in Galaxy Digital in the 2nd quarter worth approximately $60,000. Finally, SJS Investment Consulting Inc. purchased a new position in Galaxy Digital during the second quarter valued at approximately $77,000.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Benchmark upped their target price on Galaxy Digital from $40.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Rosenblatt Securities lifted their target price 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. Weiss Ratings lowered shares of Galaxy Digital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. Wall Street Zen upgraded shares of Galaxy Digital from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Finally, BTIG Research boosted their target price on shares of Galaxy Digital from $35.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.33.

Galaxy Digital Price Performance

Shares of NASDAQ:GLXY opened at $30.74 on Wednesday. The stock has a market cap of $11.57 billion and a price-to-earnings ratio of 25.62. The company’s 50 day simple moving average is $34.31. 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 Inc. has a 1 year low of $8.20 and a 1 year high of $45.92.

Insider Buying and Selling

In other news, Director Douglas R. Deason bought 10,000 shares of Galaxy Digital stock in a transaction on Friday, November 7th. The shares were bought at an average cost of $29.59 per share, with a total value of $295,900.00. Following the completion of the purchase, the director directly owned 10,000 shares of the company’s stock, valued at approximately $295,900. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Novogratz sold 3,000,000 shares of the business’s stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $36.00, for a total transaction of $108,000,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,783,333 shares of company stock worth $135,994,323 in the last quarter.

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.