Marathon Trading Investment Management LLC Invests $420,000 in Galaxy Digital Inc. $GLXY

Marathon Trading Investment Management LLC bought a new position in shares of Galaxy Digital Inc. (NASDAQ:GLXY) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 18,800 shares of the company’s stock, valued at approximately $420,000.

Several other institutional investors also recently modified their holdings of GLXY. JPMorgan Chase & Co. acquired a new position in shares of Galaxy Digital during the 2nd quarter worth about $80,000. Invesco Ltd. acquired a new position in shares of Galaxy Digital during the 2nd quarter worth about $53,233,000. EverSource Wealth Advisors LLC acquired a new position in shares of Galaxy Digital during the 2nd quarter worth about $116,000. First Trust Advisors LP acquired a new position in shares of Galaxy Digital during the 2nd quarter worth about $13,376,000. Finally, Cerity Partners LLC acquired a new position in shares of Galaxy Digital during the 2nd quarter worth about $219,000.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Citizens Jmp reiterated a “market outperform” rating and set a $55.00 price objective on shares of Galaxy Digital in a report on Wednesday, April 29th. Canaccord Genuity Group reiterated a “buy” rating and set a $50.00 price objective on shares of Galaxy Digital in a report on Friday, April 24th. The Goldman Sachs Group cut their price objective on Galaxy Digital from $24.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, April 8th. Rosenblatt Securities reiterated a “buy” rating and set a $39.00 price objective on shares of Galaxy Digital in a report on Thursday, April 23rd. Finally, Chardan Capital reiterated a “buy” rating and set a $35.00 price objective on shares of Galaxy Digital in a report on Monday, May 4th. Twelve analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.50.

Galaxy Digital Stock Performance

NASDAQ:GLXY opened at $33.36 on Monday. Galaxy Digital Inc. has a fifty-two week low of $16.43 and a fifty-two week high of $45.92. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.70 and a quick ratio of 1.70. The stock has a market capitalization of $13.01 billion and a PE ratio of -69.50. The business’s 50-day simple moving average is $27.15 and its 200-day simple moving average is $25.26.

Galaxy Digital (NASDAQ:GLXY) last released its earnings results on Tuesday, April 28th. The company reported ($0.49) EPS for the quarter, beating 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 quarter in the previous year, the firm posted ($0.86) EPS. Sell-side analysts expect that Galaxy Digital Inc. will post -0.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Galaxy Digital news, Director Michael D. Daffey sold 250,000 shares of the business’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 sale, the director owned 1,505,419 shares in the company, valued at approximately $43,310,904.63. The trade was a 14.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 51.53% of the company’s stock.

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.