VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Galaxy Digital Inc. $GLXY

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Galaxy Digital Inc. (NASDAQ:GLXY) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 56,750 shares of the company’s stock, valued at approximately $1,552,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. raised its holdings in shares of Galaxy Digital by 2.1% during the 3rd quarter. Victory Capital Management Inc. now owns 19,596 shares of the company’s stock worth $663,000 after buying an additional 411 shares in the last quarter. Triumph Capital Management boosted its stake in Galaxy Digital by 13.2% in the second quarter. Triumph Capital Management now owns 4,893 shares of the company’s stock valued at $134,000 after buying an additional 572 shares in the last quarter. Private Advisor Group LLC grew its position in Galaxy Digital by 6.9% in the first quarter. Private Advisor Group LLC now owns 10,108 shares of the company’s stock valued at $186,000 after acquiring an additional 655 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Galaxy Digital by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 52,879 shares of the company’s stock valued at $1,182,000 after acquiring an additional 666 shares during the last quarter. Finally, Main Management ETF Advisors LLC raised its stake in Galaxy Digital by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 71,253 shares of the company’s stock worth $1,593,000 after acquiring an additional 728 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GLXY shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Galaxy Digital in a report on Friday, August 21st. Piper Sandler decreased their price target on shares of Galaxy Digital from $36.00 to $33.00 and set an “overweight” rating on the stock in a report on Friday, July 17th. Citigroup lowered their price objective on shares of Galaxy Digital from $28.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, August 19th. Chardan Capital reissued a “buy” rating and issued a $35.00 price objective on shares of Galaxy Digital in a research note on Wednesday, August 5th. Finally, Rosenblatt Securities cut their target price on shares of Galaxy Digital from $39.00 to $35.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.58.

Insider Activity at Galaxy Digital

In other Galaxy Digital news, Director Douglas R. Deason bought 12,000 shares of Galaxy Digital stock in a transaction on Wednesday, August 12th. The shares were purchased at an average cost of $21.54 per share, with a total value of $258,480.00. Following the acquisition, the director directly owned 71,000 shares of the company’s stock, valued at $1,529,340. The trade was a 20.34% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Matthew W. Friedrich sold 4,993 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $27.03, for a total transaction of $134,960.79. Following the completion of the transaction, the insider owned 275,782 shares of the company’s stock, valued at approximately $7,454,387.46. This trade represents a 1.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 51.53% of the stock is owned by company insiders.

Galaxy Digital Price Performance

Shares of GLXY opened at $24.40 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.04. The stock has a market cap of $9.54 billion, a PE ratio of -37.54 and a beta of 5.10. Galaxy Digital Inc. has a 12-month low of $16.43 and a 12-month high of $45.92. The business has a 50-day simple moving average of $23.13 and a two-hundred day simple moving average of $24.85.

Galaxy Digital (NASDAQ:GLXY) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.27. The firm had revenue of $8.71 billion for the quarter. Galaxy Digital had a negative return on equity of 6.25% and a negative net margin of 0.75%.During the same period in the previous year, the business posted $0.08 earnings per share. Analysts anticipate that Galaxy Digital Inc. will post -0.79 earnings per share for the current fiscal year.

Galaxy Digital Company Profile

Galaxy Digital Holdings Ltd. (NASDAQ: GLXY) is a financial services and technology company focused on the digital asset and blockchain ecosystem. Founded in 2018 by Michael Novogratz, the company provides institutions, entrepreneurs and other market participants with access to a range of cryptocurrency-related financial products and services.

Galaxy’s business activities include investment banking, trading and liquidity provision, asset management, and digital infrastructure. Its services may include capital raising and strategic advisory, over-the-counter and electronic trading, derivatives and other market-related activities, investment products, and infrastructure supporting blockchain networks and digital asset operations.

The company serves clients across global digital asset markets, with operations and business relationships spanning North America and other international financial centers.