BlueCrest Capital Management Ltd Buys Shares of 34,231 Galaxy Digital Inc. $GLXY

BlueCrest Capital Management Ltd bought a new position in Galaxy Digital Inc. (NASDAQ:GLXY) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 34,231 shares of the company’s stock, valued at approximately $750,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC bought a new stake in Galaxy Digital in the 2nd quarter worth about $26,000. Manchester Capital Management LLC bought a new position in Galaxy Digital during the 2nd quarter valued at about $32,000. Centerpoint Advisors LLC purchased a new stake in shares of Galaxy Digital during the 2nd quarter valued at about $33,000. DHJJ Financial Advisors Ltd. bought a new stake in shares of Galaxy Digital in the second quarter worth approximately $34,000. Finally, TD Waterhouse Canada Inc. bought a new stake in shares of Galaxy Digital in the second quarter worth approximately $37,000.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Galaxy Digital from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Rosenblatt Securities boosted their target price on shares of Galaxy Digital from $35.00 to $44.00 and gave the company a “buy” rating in a research note on Monday, October 20th. Weiss Ratings restated a “hold (c)” rating on shares of Galaxy Digital in a research note on Monday. BTIG Research lifted their price objective on Galaxy Digital from $35.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Finally, Citigroup began coverage on Galaxy Digital in a report on Tuesday. They issued an “outperform” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $46.00.

Insiders Place Their Bets

In related news, CEO Michael Novogratz sold 3,000,000 shares of the business’s stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $36.00, for a total transaction of $108,000,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher C. Ferraro sold 750,000 shares of the firm’s stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $36.00, for a total transaction of $27,000,000.00. Following the sale, the insider owned 687,921 shares in the company, valued at approximately $24,765,156. The trade was a 52.16% decrease in their position. The disclosure for this sale is available in the SEC filing.

Galaxy Digital Trading Down 10.4%

NASDAQ:GLXY opened at $26.75 on Friday. Galaxy Digital Inc. has a one year low of $8.20 and a one year high of $45.92. The business has a fifty day moving average price of $32.34 and a 200-day moving average price of $27.69. The firm has a market capitalization of $10.45 billion and a price-to-earnings ratio of 22.29. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.35.

About Galaxy Digital

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.