CORDA Investment Management LLC. Buys Shares of 49,685 Galaxy Digital Inc. $GLXY

CORDA Investment Management LLC. purchased a new stake in shares of Galaxy Digital Inc. (NASDAQ:GLXY) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 49,685 shares of the company’s stock, valued at approximately $1,358,000.

A number of other large investors have also recently made changes to their positions in the stock. Nykredit A S bought a new position in Galaxy Digital during the second quarter valued at approximately $308,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Galaxy Digital in the second quarter worth approximately $1,552,000. California State Teachers Retirement System grew its position in Galaxy Digital by 2,735.0% in the 2nd quarter. California State Teachers Retirement System now owns 6,074,538 shares of the company’s stock worth $166,078,000 after purchasing an additional 5,860,265 shares during the period. Compass Financial Management LLC bought a new stake in Galaxy Digital in the 2nd quarter worth approximately $120,000. Finally, FirstWave Capital Management LLC purchased a new stake in Galaxy Digital during the 2nd quarter valued at $1,262,000.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on GLXY shares. Zacks Research downgraded Galaxy Digital from a “hold” rating to a “strong sell” rating in a research note on Monday, July 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Galaxy Digital in a research report on Friday, August 21st. Rosenblatt Securities lowered their target price on Galaxy Digital from $39.00 to $35.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Chardan Capital reissued a “buy” rating and issued a $35.00 target price on shares of Galaxy Digital in a research report on Wednesday, August 5th. Finally, Morgan Stanley boosted their price target on Galaxy Digital from $37.00 to $48.00 and gave the company an “overweight” rating in a research note on Thursday, September 3rd. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Galaxy Digital currently has an average rating of “Moderate Buy” and an average price target of $39.58.

Insider Transactions at Galaxy Digital

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

Galaxy Digital Stock Performance

Shares of GLXY stock traded up $0.72 during mid-day trading on Tuesday, reaching $27.05. 4,323,867 shares of the company’s stock traded hands, compared to its average volume of 6,440,465. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.50 and a current ratio of 1.50. The firm has a market capitalization of $10.57 billion, a PE ratio of -41.61 and a beta of 5.10. Galaxy Digital Inc. has a 12 month low of $16.43 and a 12 month high of $45.92. The firm has a 50 day moving average price of $23.16 and a two-hundred day moving average price of $24.77.

Galaxy Digital (NASDAQ:GLXY) last announced its earnings results on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.27. The company had revenue of $8.71 billion for the quarter. Galaxy Digital had a negative return on equity of 6.25% and a negative net margin of 0.75%.During the same period in the prior year, the business posted $0.08 earnings per share. On average, research analysts forecast that Galaxy Digital Inc. will post -0.79 EPS for the current year.

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.