Marex Group plc Invests $712,000 in Galaxy Digital Inc. $GLXY

Marex Group plc acquired a new position in shares of Galaxy Digital Inc. (NASDAQ:GLXY) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 32,500 shares of the company’s stock, valued at approximately $712,000.

Other large investors have also recently bought and sold shares of the company. CWM LLC acquired a new position in shares of Galaxy Digital in the second quarter worth $26,000. Manchester Capital Management LLC acquired a new position in Galaxy Digital in the 2nd quarter valued at about $32,000. Centerpoint Advisors LLC acquired a new position in Galaxy Digital in the 2nd quarter valued at about $33,000. DHJJ Financial Advisors Ltd. purchased a new position in Galaxy Digital in the 2nd quarter valued at about $34,000. Finally, TD Waterhouse Canada Inc. acquired a new stake in shares of Galaxy Digital during the 2nd quarter worth about $37,000.

Insider Buying and Selling

In related news, insider Christopher C. Ferraro sold 750,000 shares of Galaxy Digital 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 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Douglas R. Deason purchased 10,000 shares of the stock in a transaction on Friday, November 7th. The shares were purchased at an average cost of $29.59 per share, with a total value of $295,900.00. Following the transaction, the director owned 10,000 shares of the company’s stock, valued at $295,900. This trade represents a ? increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

Galaxy Digital Stock Performance

NASDAQ:GLXY opened at $26.75 on Monday. The company has a market cap of $10.45 billion and a P/E ratio of 22.29. The firm’s 50 day moving average is $32.34 and its two-hundred day moving average is $27.78. Galaxy Digital Inc. has a fifty-two week low of $8.20 and a fifty-two week high of $45.92. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.36.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on GLXY shares. Canaccord Genuity Group boosted their price objective on shares of Galaxy Digital from $34.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Citizens Jmp assumed coverage on shares of Galaxy Digital in a research note on Tuesday, December 9th. They issued a “market outperform” rating and a $60.00 target price for the company. Piper Sandler boosted their price target on Galaxy Digital from $36.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, October 1st. The Goldman Sachs Group reduced their price target on Galaxy Digital from $30.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, December 5th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Galaxy Digital in a research report on Monday, December 8th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Galaxy Digital currently has a consensus rating of “Buy” and a consensus target price of $46.00.

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.