Rovida Investment Management Ltd Sells 50,000 Shares of Galaxy Digital Inc. $GLXY

Rovida Investment Management Ltd reduced its position in shares of Galaxy Digital Inc. (NASDAQ:GLXY) by 2.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,811,200 shares of the company’s stock after selling 50,000 shares during the period. Galaxy Digital comprises about 5.5% of Rovida Investment Management Ltd’s holdings, making the stock its 6th largest holding. Rovida Investment Management Ltd owned about 0.46% of Galaxy Digital worth $40,535,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of GLXY. Danske Bank A S purchased a new position in shares of Galaxy Digital during the fourth quarter worth $36,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Galaxy Digital during the fourth quarter worth $46,000. CWM LLC boosted its position in shares of Galaxy Digital by 108.2% during the fourth quarter. CWM LLC now owns 2,954 shares of the company’s stock worth $66,000 after buying an additional 1,535 shares during the period. Eurizon Capital SGR S.p.A. purchased a new position in shares of Galaxy Digital during the fourth quarter worth $71,000. Finally, MCF Advisors LLC purchased a new position in shares of Galaxy Digital during the third quarter worth $75,000.

Insider Activity

In other news, Director Michael D. Daffey sold 250,000 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $28.77, for a total transaction of $7,192,500.00. Following the transaction, the director directly owned 1,505,419 shares in the company, valued at $43,310,904.63. The trade was a 14.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 51.53% of the stock is currently owned by company insiders.

Galaxy Digital Price Performance

Shares of NASDAQ:GLXY opened at $29.58 on Monday. The company has a 50-day simple moving average of $25.04 and a 200-day simple moving average of $25.00. Galaxy Digital Inc. has a one year low of $16.43 and a one year 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. The stock has a market capitalization of $11.53 billion and a price-to-earnings ratio of -61.62.

Galaxy Digital (NASDAQ:GLXY) last announced its 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. 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 during the quarter. During the same period in the previous year, the company posted ($0.86) earnings per share. On average, analysts predict that Galaxy Digital Inc. will post -0.32 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on GLXY. Citigroup boosted their price target on shares of Galaxy Digital from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 18th. Canaccord Genuity Group reissued a “buy” rating and issued a $50.00 price target on shares of Galaxy Digital in a research report on Friday, April 24th. 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. Rosenblatt Securities reissued a “buy” rating and issued a $39.00 price target on shares of Galaxy Digital in a research report on Thursday, April 23rd. Finally, The Goldman Sachs Group reduced their price target on shares of Galaxy Digital from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, April 8th. Twelve analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.