Galaxy Digital (NASDAQ:GLXY) Director Purchases 5,100 Shares of Stock

Galaxy Digital Inc. (NASDAQ:GLXY) Director Steven John Bandrowczak acquired 5,100 shares of Galaxy Digital stock in a transaction that occurred on Monday, August 10th. The stock was acquired at an average cost of $19.63 per share, with a total value of $100,113.00. Following the completion of the purchase, the director owned 39,186 shares in the company, valued at approximately $769,221.18. This represents a 14.96% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Galaxy Digital Stock Down 3.2%

NASDAQ GLXY traded down $0.65 during trading on Monday, reaching $19.52. 5,224,169 shares of the company’s stock were exchanged, compared to its average volume of 6,505,609. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.94. Galaxy Digital Inc. has a fifty-two week low of $16.43 and a fifty-two week high of $45.92. The company’s fifty day simple moving average is $26.41 and its 200-day simple moving average is $25.11. The firm has a market capitalization of $7.61 billion, a PE ratio of -30.03 and a beta of 5.06.

Galaxy Digital (NASDAQ:GLXY) last issued its earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, beating 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 6.10% and a negative net margin of 0.75%.During the same quarter in the prior year, the company earned $0.08 EPS. Sell-side analysts predict that Galaxy Digital Inc. will post -0.74 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on GLXY. Zacks Research lowered shares of Galaxy Digital from a “hold” rating to a “strong sell” rating in a research note on Monday, July 20th. Rosenblatt Securities decreased their target price on shares of Galaxy Digital from $39.00 to $35.00 and set a “buy” rating for the company in a research note on Monday, August 3rd. BTIG Research lowered their price target on shares of Galaxy Digital from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $50.00 price target on shares of Galaxy Digital in a research note on Friday, April 24th. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $55.00 price objective on shares of Galaxy Digital in a report on Wednesday, April 29th. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $38.83.

Hedge Funds Weigh In On Galaxy Digital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Doliver Advisors LP bought a new position in Galaxy Digital during the second quarter valued at approximately $208,000. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Galaxy Digital during the 2nd quarter worth $440,000. Western Wealth Management LLC acquired a new stake in shares of Galaxy Digital in the first quarter worth about $126,000. Bank of America Corp DE raised its holdings in Galaxy Digital by 124.3% in the 1st quarter. Bank of America Corp DE now owns 539,186 shares of the company’s stock worth $9,948,000 after acquiring an additional 298,781 shares during the period. Finally, Anson Funds Management LP acquired a new position in Galaxy Digital during the 1st quarter worth $11,070,000.

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.