Milestone Asset Management Group LLC Buys New Holdings in Galaxy Digital Inc. $GLXY

Milestone Asset Management Group LLC bought a new stake in shares of Galaxy Digital Inc. (NASDAQ:GLXY) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 272,681 shares of the company’s stock, valued at approximately $5,972,000. Galaxy Digital accounts for 4.4% of Milestone Asset Management Group LLC’s portfolio, making the stock its 2nd biggest holding. Milestone Asset Management Group LLC owned 0.08% of Galaxy Digital as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. RFG Advisory LLC purchased a new stake in Galaxy Digital during the 2nd quarter valued at about $898,000. CORDA Investment Management LLC. purchased a new stake in Galaxy Digital during the 2nd quarter valued at about $1,159,000. Caitong International Asset Management Co. Ltd purchased a new stake in Galaxy Digital during the 2nd quarter valued at about $145,000. Sullivan Wood Capital Management LLC purchased a new stake in Galaxy Digital during the 2nd quarter valued at about $26,699,000. Finally, Belpointe Asset Management LLC purchased a new stake in Galaxy Digital during the 2nd quarter valued at about $280,000.

Insider Transactions at Galaxy Digital

In other news, Director Richard Tavoso sold 50,000 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $28.28, for a total value of $1,414,000.00. Following the completion of the transaction, the director owned 400,000 shares of the company’s stock, valued at approximately $11,312,000. This represents a 11.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Novogratz sold 3,000,000 shares of the stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $36.00, for a total value of $108,000,000.00. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 4,183,333 shares of company stock worth $146,851,323.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GLXY shares. Rosenblatt Securities increased their target price on Galaxy Digital from $35.00 to $44.00 and gave the company a “buy” rating in a report on Monday, October 20th. Weiss Ratings restated a “hold (c-)” rating on shares of Galaxy Digital in a report on Wednesday, October 8th. Benchmark upped their price target on Galaxy Digital from $40.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. The Goldman Sachs Group upped their price target on Galaxy Digital from $34.00 to $39.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Finally, Maxim Group began coverage on Galaxy Digital in a research report on Thursday, July 31st. They set a “buy” rating and a $40.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $44.63.

Galaxy Digital Price Performance

GLXY opened at $37.29 on Wednesday. The firm’s 50 day simple moving average is $32.63. The company has a market cap of $14.03 billion and a price-to-earnings ratio of 466.13. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.34 and a quick ratio of 1.34. Galaxy Digital Inc. has a one year low of $8.20 and a one year high of $45.92.

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

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.