50,937 Shares in Galaxy Digital Inc. $GLXY Bought by OP Asset Management Ltd

OP Asset Management Ltd acquired a new position in Galaxy Digital Inc. (NASDAQ:GLXY) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 50,937 shares of the company’s stock, valued at approximately $940,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GLXY. JPMorgan Chase & Co. purchased a new stake in shares of Galaxy Digital in the 2nd quarter worth about $80,000. Invesco Ltd. bought a new position in shares of Galaxy Digital in the 2nd quarter worth about $53,233,000. EverSource Wealth Advisors LLC purchased a new position in Galaxy Digital during the 2nd quarter valued at about $116,000. First Trust Advisors LP purchased a new position in Galaxy Digital during the 2nd quarter valued at about $13,376,000. Finally, Cerity Partners LLC bought a new stake in Galaxy Digital during the second quarter worth about $219,000.

Galaxy Digital Stock Down 2.5%

Shares of Galaxy Digital stock opened at $28.53 on Tuesday. The company has a 50-day simple moving average of $29.52 and a two-hundred day simple moving average of $25.66. The stock has a market capitalization of $11.12 billion and a PE ratio of -59.44. Galaxy Digital Inc. has a 52-week low of $16.43 and a 52-week high of $45.92. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.70 and a current ratio of 1.70.

Galaxy Digital (NASDAQ:GLXY) last posted its quarterly earnings results on Tuesday, April 28th. The company reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.10. The firm had revenue of $10.21 billion for the quarter. Galaxy Digital had a negative net margin of 0.54% and a negative return on equity of 2.30%. During the same quarter in the previous year, the company earned ($0.86) EPS. On average, analysts anticipate that Galaxy Digital Inc. will post -0.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GLXY has been the subject of a number of analyst reports. Citizens Jmp reaffirmed a “market outperform” rating and set a $55.00 target price on shares of Galaxy Digital in a research note on Wednesday, April 29th. Wall Street Zen raised Galaxy Digital from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 2nd. Piper Sandler cut their price target on Galaxy Digital from $42.00 to $36.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 21st. Chardan Capital reaffirmed a “buy” rating and set a $35.00 price objective on shares of Galaxy Digital in a research report on Monday, May 4th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $39.00 price objective on shares of Galaxy Digital in a research note on Thursday, April 23rd. Twelve research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Galaxy Digital presently has a consensus rating of “Moderate Buy” and an average price target of $39.50.

Insider Transactions at Galaxy Digital

In related news, Director Michael D. Daffey sold 250,000 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $28.77, for a total value of $7,192,500.00. Following the transaction, the director directly owned 1,505,419 shares of the company’s stock, valued at approximately $43,310,904.63. This represents a 14.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 51.53% of the company’s stock.

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.