Marex Group plc Purchases New Position in Galaxy Digital Inc. $GLXY

Marex Group plc acquired a new position in shares of Galaxy Digital Inc. (NASDAQ:GLXY) during the second quarter, HoldingsChannel.com reports. The fund acquired 32,500 shares of the company’s stock, valued at approximately $712,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Rovida Advisors Inc. purchased a new position in shares of Galaxy Digital in the second quarter valued at $33,612,000. RFG Advisory LLC acquired a new position in Galaxy Digital in the 2nd quarter worth $898,000. Seven Grand Managers LLC acquired a new position in Galaxy Digital in the 2nd quarter worth $27,375,000. Rovida Investment Management Ltd purchased a new position in Galaxy Digital in the 2nd quarter valued at about $33,612,000. Finally, CORDA Investment Management LLC. acquired a new stake in shares of Galaxy Digital during the second quarter valued at about $1,159,000.

Galaxy Digital Price Performance

Shares of NASDAQ GLXY opened at $26.75 on Monday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $10.45 billion and a price-to-earnings ratio of 22.29. Galaxy Digital Inc. has a twelve month low of $8.20 and a twelve month high of $45.92. The business has a 50 day simple moving average of $32.34 and a 200-day simple moving average of $27.78.

Insider Buying and Selling at Galaxy Digital

In other Galaxy Digital 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Douglas R. Deason purchased 10,000 shares of Galaxy Digital stock in a transaction dated Friday, November 7th. The stock was acquired at an average price of $29.59 per share, for a total transaction of $295,900.00. Following the completion of the transaction, the director owned 10,000 shares in the company, valued at approximately $295,900. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.

Analyst Ratings Changes

Several research firms recently commented on GLXY. The Goldman Sachs Group cut 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. Benchmark upped their target price on Galaxy Digital from $40.00 to $57.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. JMP Securities set a $60.00 target price on Galaxy Digital in a research note on Tuesday, December 9th. Rosenblatt Securities lifted their price target on shares of Galaxy Digital from $35.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Finally, Citizens Jmp initiated coverage on shares of Galaxy Digital in a report on Tuesday, December 9th. They issued a “market outperform” rating and a $60.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $46.00.

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.