Good Life Advisors LLC Takes Position in Galaxy Digital Inc. $GLXY

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

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

Insider Buying and Selling at Galaxy Digital

In other news, insider Christopher C. Ferraro sold 750,000 shares of the stock in a transaction on Friday, October 10th. The shares were sold at an average price of $36.00, for a total transaction of $27,000,000.00. Following the transaction, the insider owned 687,921 shares in the company, valued at $24,765,156. This represents a 52.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Douglas R. Deason acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was acquired at an average price of $29.59 per share, with a total value of $295,900.00. Following the completion of the acquisition, the director directly owned 10,000 shares of the company’s stock, valued at $295,900. This represents a ? increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders sold 3,783,333 shares of company stock valued at $135,994,323.

Galaxy Digital Price Performance

GLXY opened at $30.41 on Thursday. The stock has a market cap of $11.44 billion and a P/E ratio of 25.34. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.34. Galaxy Digital Inc. has a fifty-two week low of $8.20 and a fifty-two week high of $45.92. The business’s 50-day moving average price is $34.45.

Wall Street Analysts Forecast Growth

GLXY has been the topic of a number of research analyst reports. Jefferies Financial Group began coverage on Galaxy Digital in a report on Wednesday, July 23rd. They set a “buy” rating and a $35.00 target price on the stock. Morgan Stanley assumed coverage on shares of Galaxy Digital in a research note on Thursday, November 6th. They set an “overweight” rating and a $42.00 target price for the company. Weiss Ratings cut Galaxy Digital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. BTIG Research lifted their target price on Galaxy Digital from $35.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Finally, Piper Sandler increased their price target on Galaxy Digital from $36.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $44.33.

Galaxy Digital Company 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.