FNY Investment Advisers LLC Makes New $60,000 Investment in Galaxy Digital Inc. $GLXY

FNY Investment Advisers LLC purchased a new position in shares of Galaxy Digital Inc. (NASDAQ:GLXY) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,741 shares of the company’s stock, valued at approximately $60,000.

A number of other hedge funds also recently bought and sold shares of GLXY. Sullivan Wood Capital Management LLC purchased a new position in Galaxy Digital during the second quarter worth approximately $26,699,000. CORDA Investment Management LLC. purchased a new position in Galaxy Digital during the second quarter worth approximately $1,159,000. RFG Advisory LLC purchased a new position in Galaxy Digital during the second quarter worth approximately $898,000. Vontobel Holding Ltd. purchased a new position in Galaxy Digital during the second quarter worth approximately $766,000. Finally, Cidel Asset Management Inc. purchased a new position in Galaxy Digital during the second quarter worth approximately $548,000.

Galaxy Digital Trading Up 3.4%

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

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GLXY shares. Jefferies Financial Group started coverage on Galaxy Digital in a research report on Wednesday, July 23rd. They issued a “buy” rating and a $35.00 target price on the stock. Canaccord Genuity Group raised their target price on Galaxy Digital from $34.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday. Rosenblatt Securities raised their target price on Galaxy Digital from $35.00 to $44.00 and gave the company a “buy” rating in a research report on Monday. BTIG Research raised their target price on Galaxy Digital from $35.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Piper Sandler raised their target price 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 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 stock. Based on data from MarketBeat.com, Galaxy Digital presently has an average rating of “Buy” and a consensus target price of $44.63.

Insider Activity

In other Galaxy Digital news, Director Medina Rhonda Adams sold 33,333 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $29.83, for a total transaction of $994,323.39. Following the completion of the sale, the director owned 112,053 shares of the company’s stock, valued at $3,342,540.99. This trade represents a 22.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Novogratz sold 3,000,000 shares of the firm’s stock in a transaction on Friday, October 10th. The stock was sold at an average price of $36.00, for a total value of $108,000,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 4,183,333 shares of company stock valued at $146,851,323 in the last 90 days.

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.