Phoenix Financial Ltd. Invests $223,000 in Galaxy Digital Inc. $GLXY

Phoenix Financial Ltd. acquired a new stake in shares of Galaxy Digital Inc. (NASDAQ:GLXY) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 10,209 shares of the company’s stock, valued at approximately $223,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Sullivan Wood Capital Management LLC acquired a new position in shares of Galaxy Digital in the 2nd quarter valued at approximately $26,699,000. CORDA Investment Management LLC. acquired a new position in shares of Galaxy Digital during the second quarter worth about $1,159,000. RFG Advisory LLC acquired a new position in Galaxy Digital during the second quarter worth $898,000. Vontobel Holding Ltd. acquired a new position in shares of Galaxy Digital during the 2nd quarter worth about $766,000. Finally, Cidel Asset Management Inc. acquired a new position in shares of Galaxy Digital during the 2nd quarter worth about $548,000.

Insider Activity at Galaxy Digital

In related news, insider Christopher C. Ferraro sold 750,000 shares of the stock in a transaction dated 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 sale, the insider directly owned 687,921 shares of the company’s stock, valued at approximately $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 Medina Rhonda Adams sold 33,333 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $29.83, for a total transaction of $994,323.39. Following the sale, the director owned 112,053 shares in the company, valued at approximately $3,342,540.99. The trade was a 22.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,183,333 shares of company stock worth $146,851,323 in the last ninety days.

Galaxy Digital Stock Performance

NASDAQ GLXY opened at $38.60 on Friday. Galaxy Digital Inc. has a twelve month low of $8.20 and a twelve month high of $45.92. The company’s 50-day moving average price is $31.81. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.28.

Galaxy Digital (NASDAQ:GLXY) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.14. The firm had revenue of $8.66 billion during the quarter, compared to analysts’ expectations of $13.11 billion.

Analyst Ratings Changes

A number of research firms have recently issued reports on GLXY. BTIG Research raised their price objective on Galaxy Digital from $35.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday. Maxim Group started coverage on shares of Galaxy Digital in a research report on Thursday, July 31st. They set a “buy” rating and a $40.00 price objective for the company. The Goldman Sachs Group upped their target price on Galaxy Digital from $34.00 to $39.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. Wall Street Zen upgraded Galaxy Digital from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Finally, Canaccord Genuity Group raised their price target on shares of Galaxy Digital from $34.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Galaxy Digital currently has an average rating of “Buy” and a consensus price target of $44.63.

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.