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

HighTower Advisors LLC increased its position in shares of Galaxy Digital Inc. (NASDAQ:GLXY) by 234.1% in the third quarter, HoldingsChannel reports. The firm owned 56,211 shares of the company’s stock after purchasing an additional 39,388 shares during the period. HighTower Advisors LLC’s holdings in Galaxy Digital were worth $1,900,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC bought a new stake in Galaxy Digital during the second quarter worth about $26,000. Manchester Capital Management LLC acquired a new stake in Galaxy Digital during the 2nd quarter valued at $32,000. North Star Investment Management Corp. bought a new position in Galaxy Digital in the 3rd quarter valued at $34,000. ORG Partners LLC boosted its stake in Galaxy Digital by 1,110.0% in the third quarter. ORG Partners LLC now owns 968 shares of the company’s stock worth $36,000 after purchasing an additional 888 shares in the last quarter. Finally, TD Waterhouse Canada Inc. acquired a new position in Galaxy Digital in the second quarter worth $37,000.

Galaxy Digital Stock Performance

Shares of Galaxy Digital stock opened at $20.59 on Friday. The firm has a fifty day moving average of $25.05 and a two-hundred day moving average of $28.49. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.35 and a current ratio of 1.35. The stock has a market capitalization of $8.04 billion and a price-to-earnings ratio of 171.58. Galaxy Digital Inc. has a 52 week low of $8.20 and a 52 week high of $45.92.

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

Analysts Set New Price Targets

GLXY has been the topic of several research reports. Citigroup initiated coverage on shares of Galaxy Digital in a research report on Wednesday. They set a “neutral” rating and a $25.00 price target on the stock. Wall Street Zen lowered shares of Galaxy Digital from a “hold” rating to a “sell” rating in a research report on Saturday. Canaccord Genuity Group reissued a “buy” rating and set a $50.00 price target on shares of Galaxy Digital in a research note on Friday, January 30th. Citizens Jmp restated a “market outperform” rating and issued a $60.00 price objective on shares of Galaxy Digital in a research report on Wednesday, February 4th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $46.00 price objective on shares of Galaxy Digital in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Galaxy Digital presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.54.

Insider Activity at Galaxy Digital

In other news, Director Douglas R. Deason acquired 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The stock was purchased at an average price of $20.80 per share, for a total transaction of $520,000.00. Following the completion of the acquisition, the director owned 59,000 shares in the company, valued at $1,227,200. This trade represents a 73.53% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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.