Seven Grand Managers LLC Sells 750,000 Shares of Galaxy Digital Inc. $GLXY

Seven Grand Managers LLC cut its position in shares of Galaxy Digital Inc. (NASDAQ:GLXY) by 37.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,250,000 shares of the company’s stock after selling 750,000 shares during the period. Galaxy Digital comprises approximately 2.1% of Seven Grand Managers LLC’s investment portfolio, making the stock its 12th biggest holding. Seven Grand Managers LLC’s holdings in Galaxy Digital were worth $27,950,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in Galaxy Digital by 13.0% during the fourth quarter. Geode Capital Management LLC now owns 2,433,242 shares of the company’s stock valued at $54,424,000 after buying an additional 279,818 shares during the last quarter. Harbour Investments Inc. boosted its stake in Galaxy Digital by 12,563.3% during the fourth quarter. Harbour Investments Inc. now owns 3,799 shares of the company’s stock valued at $85,000 after buying an additional 3,769 shares during the last quarter. Prospera Financial Services Inc bought a new position in Galaxy Digital during the fourth quarter valued at approximately $304,000. Signature Estate & Investment Advisors LLC boosted its stake in Galaxy Digital by 46.1% during the fourth quarter. Signature Estate & Investment Advisors LLC now owns 25,654 shares of the company’s stock valued at $574,000 after buying an additional 8,098 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its stake in Galaxy Digital by 1,651.1% during the fourth quarter. Global Retirement Partners LLC now owns 33,095 shares of the company’s stock valued at $740,000 after buying an additional 31,205 shares during the last quarter.

Galaxy Digital Trading Up 1.2%

Shares of GLXY stock opened at $29.97 on Thursday. Galaxy Digital Inc. has a 1 year low of $16.43 and a 1 year high of $45.92. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.70 and a quick ratio of 1.70. The stock’s 50 day simple moving average is $24.75 and its two-hundred day simple moving average is $25.02. The company has a market cap of $11.69 billion and a PE ratio of -62.44.

Galaxy Digital (NASDAQ:GLXY) last issued its quarterly earnings data on Tuesday, April 28th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.10. Galaxy Digital had a negative return on equity of 2.30% and a negative net margin of 0.54%.The business had revenue of $10.21 billion for the quarter. During the same quarter last year, the company earned ($0.86) earnings per share. Research analysts predict that Galaxy Digital Inc. will post -0.32 earnings per share for the current year.

Insider Buying and Selling at Galaxy Digital

In other news, Director Michael D. Daffey sold 250,000 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $28.77, for a total value of $7,192,500.00. Following the sale, the director directly owned 1,505,419 shares in the company, valued at approximately $43,310,904.63. This represents a 14.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 51.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GLXY shares. Chardan Capital reissued a “buy” rating and set a $35.00 price target on shares of Galaxy Digital in a research note on Monday, May 4th. The Goldman Sachs Group dropped their price target on Galaxy Digital from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, April 8th. Rosenblatt Securities restated a “buy” rating and set a $39.00 price objective on shares of Galaxy Digital in a research report on Thursday, April 23rd. Citigroup upped their price objective on Galaxy Digital from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Wednesday, March 18th. Finally, Wall Street Zen upgraded Galaxy Digital from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 2nd. Twelve research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $39.50.

About Galaxy Digital

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.