Rovida Investment Management Ltd Acquires 325,000 Shares of Galaxy Digital Inc. $GLXY

Rovida Investment Management Ltd grew its holdings in Galaxy Digital Inc. (NASDAQ:GLXY) by 21.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,861,200 shares of the company’s stock after buying an additional 325,000 shares during the quarter. Galaxy Digital accounts for 7.1% of Rovida Investment Management Ltd’s investment portfolio, making the stock its 6th largest position. Rovida Investment Management Ltd’s holdings in Galaxy Digital were worth $62,890,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Galaxy Digital by 15.5% in the 3rd quarter. Vanguard Group Inc. now owns 16,206,111 shares of the company’s stock valued at $547,950,000 after acquiring an additional 2,179,540 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of Galaxy Digital in the second quarter valued at about $113,435,000. Invesco Ltd. purchased a new stake in shares of Galaxy Digital during the second quarter worth about $53,233,000. Tidal Investments LLC acquired a new position in shares of Galaxy Digital during the 2nd quarter worth about $48,452,000. Finally, Geode Capital Management LLC acquired a new position in shares of Galaxy Digital during the 2nd quarter worth about $43,525,000.

Galaxy Digital Price Performance

NASDAQ:GLXY opened at $22.73 on Friday. Galaxy Digital Inc. has a one year low of $8.20 and a one year high of $45.92. The stock has a market cap of $8.88 billion and a PE ratio of 189.42. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.60 and a current ratio of 1.60. The stock has a 50 day moving average price of $24.88 and a 200 day moving average price of $28.33.

Galaxy Digital (NASDAQ:GLXY) last released its quarterly earnings data on Tuesday, February 3rd. The company reported ($1.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.24) by $0.16. The company had revenue of $10.37 billion for the quarter, compared to analyst estimates of $13.08 billion.

Wall Street Analyst Weigh In

GLXY has been the topic of several research analyst reports. Morgan Stanley lowered their price objective on Galaxy Digital from $43.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, February 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Galaxy Digital in a research note on Monday, December 29th. Cantor Fitzgerald dropped their price target on Galaxy Digital from $53.00 to $48.00 and set an “overweight” rating for the company in a research report on Monday, February 2nd. BTIG Research restated a “buy” rating and issued a $50.00 price objective on shares of Galaxy Digital in a report on Tuesday, February 3rd. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $60.00 target price on shares of Galaxy Digital in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Galaxy Digital currently has an average rating of “Moderate Buy” and a consensus target price of $42.54.

Insider Buying and Selling at Galaxy Digital

In other news, Director Douglas R. Deason acquired 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was purchased at an average price of $20.80 per share, with a total value of $520,000.00. Following the completion of the acquisition, the director owned 59,000 shares of the company’s stock, valued at $1,227,200. This trade represents a 73.53% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

About Galaxy Digital

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.