HighTower Advisors LLC Has $1.90 Million Holdings in Galaxy Digital Inc. $GLXY

HighTower Advisors LLC lifted its stake in shares of Galaxy Digital Inc. (NASDAQ:GLXY) by 234.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 56,211 shares of the company’s stock after acquiring an additional 39,388 shares during the quarter. HighTower Advisors LLC’s holdings in Galaxy Digital were worth $1,900,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in GLXY. Balyasny Asset Management L.P. acquired a new stake in Galaxy Digital in the 2nd quarter worth approximately $113,435,000. Invesco Ltd. bought a new position in shares of Galaxy Digital in the second quarter valued at approximately $53,233,000. Tidal Investments LLC acquired a new stake in shares of Galaxy Digital in the second quarter worth $48,452,000. Geode Capital Management LLC bought a new stake in shares of Galaxy Digital during the 2nd quarter worth $43,525,000. Finally, Marshall Wace LLP bought a new stake in shares of Galaxy Digital during the 2nd quarter worth $35,568,000.

Analysts Set New Price Targets

A number of research analysts have weighed in on GLXY shares. The Goldman Sachs Group cut their target price on shares of Galaxy Digital from $27.00 to $24.00 and set a “neutral” rating for the company in a research report on Wednesday, February 4th. Citizens Jmp reissued a “market outperform” rating and set a $60.00 price objective on shares of Galaxy Digital in a research report on Wednesday, February 4th. Wall Street Zen lowered Galaxy Digital from a “hold” rating to a “sell” rating in a report on Saturday. Citigroup began coverage on Galaxy Digital in a research report on Wednesday. They issued a “neutral” rating and a $25.00 price target on the stock. Finally, Rosenblatt Securities restated a “buy” rating and issued a $46.00 price objective on shares of Galaxy Digital in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.54.

Insider Transactions at Galaxy Digital

In related news, Director Douglas R. Deason acquired 25,000 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were bought at an average cost of $20.80 per share, with a total value of $520,000.00. Following the completion of the acquisition, the director owned 59,000 shares of the company’s stock, valued at $1,227,200. This trade represents a 73.53% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Galaxy Digital Stock Performance

GLXY opened at $20.59 on Friday. The stock’s 50 day simple moving average is $25.05 and its 200-day simple moving average is $28.49. 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 stock has a market cap of $8.04 billion and a PE ratio of 171.58. Galaxy Digital Inc. has a 1 year low of $8.20 and a 1 year high of $45.92.

Galaxy Digital (NASDAQ:GLXY) last announced its quarterly earnings data on Tuesday, February 3rd. The company reported ($1.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.24) by $0.16. The business had revenue of $10.37 billion during the quarter, compared to analyst estimates of $13.08 billion.

Galaxy Digital Profile

Galaxy Digital Holdings Ltd. (NASDAQ:GLXY) is a diversified financial services and investment management firm dedicated to the digital assets and blockchain technology sectors. Established in 2018 by Mike Novogratz, the company operates across trading, asset management, principal investing and advisory services. Galaxy Digital caters to institutional clients, high-net-worth investors and corporations seeking exposure to cryptocurrencies, decentralized finance (DeFi) protocols and other blockchain-based assets.

In its trading division, Galaxy Digital provides market-making, execution and over-the-counter (OTC) solutions for a wide range of digital tokens.