29,343 Shares in Galaxy Digital Inc. $GLXY Bought by Ninepoint Partners LP

Ninepoint Partners LP purchased a new stake in Galaxy Digital Inc. (NASDAQ:GLXY) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 29,343 shares of the company’s stock, valued at approximately $802,000.

Several other hedge funds and other institutional investors have also made changes to their positions in GLXY. Vanguard Group Inc. raised its position in shares of Galaxy Digital by 27.5% during the 4th quarter. Vanguard Group Inc. now owns 20,669,893 shares of the company’s stock worth $462,310,000 after purchasing an additional 4,463,782 shares during the last quarter. Pictet Asset Management Holding SA increased its position in Galaxy Digital by 184.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 80,708 shares of the company’s stock worth $1,808,000 after buying an additional 52,334 shares in the last quarter. Encompass More Asset Management purchased a new position in Galaxy Digital during the fourth quarter worth $896,000. Riposte Capital LLC acquired a new position in shares of Galaxy Digital in the first quarter worth $2,952,000. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of Galaxy Digital in the fourth quarter worth $6,984,000.

Insider Buying and Selling at Galaxy Digital

In other news, Director Steven John Bandrowczak bought 5,100 shares of Galaxy Digital stock in a transaction that occurred on Monday, August 10th. The shares were purchased at an average price of $19.63 per share, for a total transaction of $100,113.00. Following the completion of the acquisition, the director owned 39,186 shares of the company’s stock, valued at $769,221.18. The trade was a 14.96% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Douglas R. Deason purchased 12,000 shares of the stock in a transaction on Wednesday, August 12th. The shares were purchased at an average cost of $21.54 per share, with a total value of $258,480.00. Following the transaction, the director owned 71,000 shares of the company’s stock, valued at $1,529,340. This trade represents a 20.34% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 51.53% of the company’s stock.

Galaxy Digital Price Performance

GLXY opened at $23.47 on Friday. Galaxy Digital Inc. has a 1 year low of $16.43 and a 1 year high of $45.92. The company’s 50 day simple moving average is $24.86 and its 200 day simple moving average is $24.47. The stock has a market capitalization of $9.17 billion, a PE ratio of -36.11 and a beta of 5.06. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.50 and a current ratio of 1.50.

Galaxy Digital (NASDAQ:GLXY) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.27. The firm had revenue of $8.71 billion during the quarter. Galaxy Digital had a negative net margin of 0.75% and a negative return on equity of 6.25%. During the same period last year, the company posted $0.08 EPS. As a group, sell-side analysts expect that Galaxy Digital Inc. will post -0.82 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on GLXY shares. Citizens Jmp reaffirmed a “market outperform” rating and set a $55.00 price objective on shares of Galaxy Digital in a research note on Wednesday, April 29th. Canaccord Genuity Group reissued a “buy” rating and issued a $50.00 target price on shares of Galaxy Digital in a research note on Friday, April 24th. Zacks Research lowered shares of Galaxy Digital from a “hold” rating to a “strong sell” rating in a report on Monday, July 20th. BTIG Research decreased their price target on shares of Galaxy Digital from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Finally, Piper Sandler lowered their price target on shares of Galaxy Digital from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Friday, July 17th. Ten research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Galaxy Digital presently has an average rating of “Moderate Buy” and an average price target of $38.67.

Galaxy Digital Company 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.