Galaxy Digital Inc. (NASDAQ:GLXY) Given Average Recommendation of “Buy” by Brokerages

Galaxy Digital Inc. (NASDAQ:GLXY) has been assigned an average recommendation of “Buy” from the eleven analysts that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $36.3750.

GLXY has been the topic of a number of recent analyst reports. Canaccord Genuity Group upped their target price on shares of Galaxy Digital from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Galaxy Digital in a research report on Saturday, September 27th. Maxim Group initiated coverage on shares of Galaxy Digital in a research report on Thursday, July 31st. They issued a “buy” rating and a $40.00 target price on the stock. Rosenblatt Securities decreased their target price on shares of Galaxy Digital from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Finally, Jefferies Financial Group initiated coverage on shares of Galaxy Digital in a research report on Wednesday, July 23rd. They issued a “buy” rating and a $35.00 target price on the stock.

Insider Buying and Selling at Galaxy Digital

In other Galaxy Digital news, COO Erin Elizabeth Brown sold 350,000 shares of the business’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $26.98, for a total transaction of $9,443,000.00. Following the sale, the chief operating officer directly owned 198,088 shares in the company, valued at $5,344,414.24. This represents a 63.86% 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 Medina Rhonda Adams sold 33,333 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $29.83, for a total transaction of $994,323.39. Following the sale, the director owned 112,053 shares in the company, valued at $3,342,540.99. This trade represents a 22.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 433,333 shares of company stock valued at $11,851,323 over the last 90 days.

Institutional Trading of Galaxy Digital

A number of institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC purchased a new stake in Galaxy Digital during the second quarter worth about $26,000. Manchester Capital Management LLC purchased a new stake in Galaxy Digital during the second quarter worth about $32,000. Centerpoint Advisors LLC purchased a new stake in Galaxy Digital during the second quarter worth about $33,000. DHJJ Financial Advisors Ltd. purchased a new stake in shares of Galaxy Digital during the second quarter worth approximately $34,000. Finally, TD Waterhouse Canada Inc. purchased a new stake in shares of Galaxy Digital during the second quarter worth approximately $37,000.

Galaxy Digital Price Performance

Shares of GLXY stock opened at $36.16 on Friday. The firm’s 50-day moving average price is $28.45. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.34 and a current ratio of 1.34. Galaxy Digital has a twelve month low of $8.20 and a twelve month high of $37.67.

Galaxy Digital (NASDAQ:GLXY) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.14. The firm had revenue of $8.66 billion for the quarter, compared to analyst estimates 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.