Galaxy Digital (NASDAQ:GLXY) Director Douglas Deason Acquires 12,000 Shares

Galaxy Digital Inc. (NASDAQ:GLXY) Director Douglas Deason acquired 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was purchased at an average price of $21.54 per share, for a total transaction of $258,480.00. Following the acquisition, the director directly owned 71,000 shares in the company, valued at approximately $1,529,340. This trade represents a 20.34% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Galaxy Digital Price Performance

GLXY opened at $21.66 on Friday. The stock’s 50-day moving average price is $25.64 and its 200 day moving average price is $24.76. Galaxy Digital Inc. has a 12-month low of $16.43 and a 12-month high of $45.92. The firm has a market cap of $8.47 billion, a price-to-earnings ratio of -33.32 and a beta of 5.06. The company has a current ratio of 1.50, a quick ratio of 1.70 and a debt-to-equity ratio of 1.04.

Galaxy Digital (NASDAQ:GLXY) last released its earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.27. The company had revenue of $8.71 billion during 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 prior year, the firm earned $0.08 earnings per share. As a group, sell-side analysts expect that Galaxy Digital Inc. will post -0.82 earnings per share for the current year.

Hedge Funds Weigh In On Galaxy Digital

A number of institutional investors and hedge funds have recently made changes to their positions in GLXY. Victory Capital Management Inc. raised its holdings in Galaxy Digital by 2.1% in the third quarter. Victory Capital Management Inc. now owns 19,596 shares of the company’s stock valued at $663,000 after acquiring an additional 411 shares in the last quarter. Private Advisor Group LLC grew its holdings in Galaxy Digital by 6.9% during the 1st quarter. Private Advisor Group LLC now owns 10,108 shares of the company’s stock worth $186,000 after acquiring an additional 655 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Galaxy Digital by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 52,879 shares of the company’s stock worth $1,182,000 after acquiring an additional 666 shares in the last quarter. Main Management ETF Advisors LLC increased its position in shares of Galaxy Digital by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 71,253 shares of the company’s stock valued at $1,593,000 after purchasing an additional 728 shares during the last quarter. Finally, Cetera Investment Advisers increased its position in shares of Galaxy Digital by 2.3% in the 4th quarter. Cetera Investment Advisers now owns 32,963 shares of the company’s stock valued at $737,000 after purchasing an additional 742 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages recently weighed in on GLXY. Wall Street Zen upgraded shares of Galaxy Digital from a “strong sell” rating to a “sell” rating in a report on Saturday, May 2nd. Weiss Ratings lowered shares of Galaxy Digital from a “sell (d+)” rating to a “sell (d-)” rating in a report on Tuesday, May 26th. Morgan Stanley reissued an “overweight” rating and issued a $37.00 price target on shares of Galaxy Digital in a research report on Wednesday, April 29th. Chardan Capital restated a “buy” rating and issued a $35.00 price target on shares of Galaxy Digital in a research note on Wednesday, August 5th. Finally, Piper Sandler cut their price objective on Galaxy Digital from $36.00 to $33.00 and set an “overweight” rating on the stock in a research report on Friday, July 17th. Ten equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Galaxy Digital currently has a consensus rating of “Moderate Buy” and an average target price of $38.83.

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.