Galaxy Digital Inc. $GLXY Holdings Raised by Moore Capital Management LP

Moore Capital Management LP lifted its stake in Galaxy Digital Inc. (NASDAQ:GLXY) by 52.9% in the second quarter, HoldingsChannel reports. The firm owned 2,082,250 shares of the company’s stock after purchasing an additional 720,000 shares during the period. Galaxy Digital accounts for 0.8% of Moore Capital Management LP’s holdings, making the stock its 15th biggest position. Moore Capital Management LP’s holdings in Galaxy Digital were worth $56,929,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. acquired a new stake in Galaxy Digital during the 2nd quarter worth about $30,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Galaxy Digital by 183.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,434 shares of the company’s stock worth $32,000 after buying an additional 928 shares during the period. Picton Mahoney Asset Management boosted its holdings in shares of Galaxy Digital by 200.0% in the fourth quarter. Picton Mahoney Asset Management now owns 1,500 shares of the company’s stock worth $34,000 after buying an additional 1,000 shares during the period. Danske Bank A S purchased a new position in shares of Galaxy Digital in the fourth quarter worth approximately $36,000. Finally, Hollencrest Capital Management raised its holdings in shares of Galaxy Digital by 204.0% during the first quarter. Hollencrest Capital Management now owns 2,584 shares of the company’s stock valued at $48,000 after acquiring an additional 1,734 shares during the period.

Galaxy Digital Stock Performance

NASDAQ GLXY opened at $23.21 on Monday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.04. Galaxy Digital Inc. has a 1-year low of $16.43 and a 1-year high of $45.92. The firm’s fifty day simple moving average is $23.72 and its 200-day simple moving average is $24.59. The company has a market capitalization of $9.07 billion, a PE ratio of -35.71 and a beta of 5.06.

Galaxy Digital (NASDAQ:GLXY) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.27. Galaxy Digital had a negative return on equity of 6.25% and a negative net margin of 0.75%.The firm had revenue of $8.71 billion during the quarter. During the same period in the previous year, the business posted $0.08 EPS. As a group, sell-side analysts anticipate that Galaxy Digital Inc. will post -0.82 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GLXY shares. Piper Sandler reduced their price target on shares of Galaxy Digital from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Friday, July 17th. Rosenblatt Securities lowered their price objective on shares of Galaxy Digital from $39.00 to $35.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Chardan Capital reissued a “buy” rating and set a $35.00 target price on shares of Galaxy Digital in a research note on Wednesday, August 5th. BTIG Research reduced their target price on Galaxy Digital from $50.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Galaxy Digital in a research report on Friday, August 21st. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Galaxy Digital currently has a consensus rating of “Moderate Buy” and an average price target of $38.67.

Insider Activity at Galaxy Digital

In other news, Director Douglas R. Deason acquired 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The shares were purchased at an average price of $21.54 per share, for a total transaction of $258,480.00. Following the completion of the acquisition, the director owned 71,000 shares of the company’s stock, valued at approximately $1,529,340. This represents a 20.34% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven John Bandrowczak acquired 5,100 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were acquired at an average cost of $19.63 per share, for a total transaction of $100,113.00. Following the transaction, the director owned 39,186 shares of the company’s stock, valued at approximately $769,221.18. This represents a 14.96% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 51.53% of the company’s stock.

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.