Capelight Capital Asset Management LP Purchases 25,000 Shares of Galaxy Digital Inc. $GLXY

Capelight Capital Asset Management LP grew its position in Galaxy Digital Inc. (NASDAQ:GLXY) by 13.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 205,000 shares of the company’s stock after buying an additional 25,000 shares during the period. Galaxy Digital makes up about 2.7% of Capelight Capital Asset Management LP’s investment portfolio, making the stock its 15th largest holding. Capelight Capital Asset Management LP owned about 0.05% of Galaxy Digital worth $3,782,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on GLXY. Piper Sandler reduced their price objective on Galaxy Digital from $42.00 to $36.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. Citizens Jmp restated a “market outperform” rating and set a $55.00 target price on shares of Galaxy Digital in a research note on Wednesday, April 29th. Morgan Stanley reaffirmed an “overweight” rating and set a $37.00 price target on shares of Galaxy Digital in a report on Wednesday, April 29th. Wall Street Zen upgraded shares of Galaxy Digital from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 price objective on shares of Galaxy Digital in a report on Friday, May 1st. Twelve equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $39.50.

Insiders Place Their Bets

In other Galaxy Digital news, Director Michael D. Daffey sold 250,000 shares of the company’s 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 completion of the transaction, 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 ownership of the stock. 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 Down 4.9%

Shares of GLXY stock opened at $24.59 on Friday. Galaxy Digital Inc. has a 12 month low of $16.43 and a 12 month high of $45.92. The stock has a market cap of $9.59 billion, a P/E ratio of -51.23 and a beta of 4.84. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.94. The company has a 50 day simple moving average of $29.52 and a two-hundred day simple moving average of $25.61.

Galaxy Digital (NASDAQ:GLXY) last posted its quarterly earnings data on Tuesday, April 28th. The company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($0.59) by $0.10. The firm had revenue of $10.21 billion for the quarter. Galaxy Digital had a negative return on equity of 2.30% and a negative net margin of 0.54%.During the same period last year, the business earned ($0.86) EPS. On average, research analysts expect that Galaxy Digital Inc. will post -0.32 earnings per share 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.