Cornerstone Select Advisors LLC Makes New Investment in Galaxy Digital Inc. $GLXY

Cornerstone Select Advisors LLC acquired a new position in Galaxy Digital Inc. (NASDAQ:GLXY) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 17,174 shares of the company’s stock, valued at approximately $384,000.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew 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 valued at $462,310,000 after acquiring an additional 4,463,782 shares during the period. Geode Capital Management LLC grew its position in shares of Galaxy Digital by 13.0% during the 4th quarter. Geode Capital Management LLC now owns 2,433,242 shares of the company’s stock valued at $54,424,000 after acquiring an additional 279,818 shares during the period. Invesco Ltd. bought a new position in shares of Galaxy Digital during the 2nd quarter valued at approximately $53,233,000. Tidal Investments LLC bought a new position in shares of Galaxy Digital during the 2nd quarter valued at approximately $48,452,000. Finally, Rovida Investment Management Ltd grew its position in shares of Galaxy Digital by 21.2% during the 3rd quarter. Rovida Investment Management Ltd now owns 1,861,200 shares of the company’s stock valued at $62,890,000 after acquiring an additional 325,000 shares during the period.

Insider Transactions at Galaxy Digital

In other Galaxy Digital news, Director Michael D. Daffey sold 250,000 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were 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 $43,310,904.63. This represents a 14.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 51.53% of the stock is owned by corporate insiders.

Galaxy Digital Stock Performance

NASDAQ GLXY opened at $29.58 on Friday. 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 has a market capitalization of $11.53 billion and a PE ratio of -61.62. The company’s 50 day simple moving average is $25.04 and its two-hundred day simple moving average is $25.05.

Galaxy Digital (NASDAQ:GLXY) last posted its earnings results on Tuesday, April 28th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.10. Galaxy Digital had a negative net margin of 0.54% and a negative return on equity of 2.30%. The business had revenue of $10.21 billion for the quarter. During the same quarter in the prior year, the company earned ($0.86) earnings per share. Analysts predict that Galaxy Digital Inc. will post -0.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Galaxy Digital from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 2nd. BTIG Research reissued a “buy” rating and set a $50.00 target price on shares of Galaxy Digital in a research report on Thursday, May 21st. HC Wainwright reduced their target price on shares of Galaxy Digital from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, February 4th. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 target price on shares of Galaxy Digital in a research report on Friday, May 1st. Finally, Morgan Stanley reissued an “overweight” rating and set a $37.00 target price on shares of Galaxy Digital in a research report on Wednesday, April 29th. Twelve analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $39.50.

Galaxy Digital 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.