Sei Investments Co. lifted its holdings in shares of Galaxy Digital Inc. (NASDAQ:GLXY – Free Report) by 96.9% in the 1st quarter, Holdings Channel reports. The firm owned 76,596 shares of the company’s stock after acquiring an additional 37,701 shares during the period. Sei Investments Co.’s holdings in Galaxy Digital were worth $1,413,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the stock. Capital Research Global Investors bought a new stake in Galaxy Digital during the fourth quarter valued at approximately $406,102,000. Vanguard Group Inc. increased its holdings in shares of Galaxy Digital by 27.5% in the 4th quarter. Vanguard Group Inc. now owns 20,669,893 shares of the company’s stock worth $462,310,000 after buying an additional 4,463,782 shares during the last quarter. Invesco Ltd. purchased a new stake in shares of Galaxy Digital during the 2nd quarter valued at $53,233,000. Tidal Investments LLC purchased a new stake in shares of Galaxy Digital during the 2nd quarter valued at $48,452,000. Finally, Norges Bank bought a new stake in shares of Galaxy Digital during the 4th quarter worth $32,045,000.
Analyst Ratings Changes
Several brokerages recently issued reports on GLXY. Piper Sandler cut their target price on shares of Galaxy Digital from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Friday, July 17th. Chardan Capital reaffirmed a “buy” rating and set a $35.00 price target on shares of Galaxy Digital in a research note on Wednesday, August 5th. Zacks Research cut Galaxy Digital from a “hold” rating to a “strong sell” rating in a report on Monday, July 20th. Wall Street Zen upgraded Galaxy Digital from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings cut Galaxy Digital from a “sell (d+)” rating to a “sell (d-)” rating in a report on Tuesday, May 26th. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.83.
Insider Activity
In other news, Director Michael D. Daffey sold 250,000 shares of the stock in a transaction 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 directly owned 1,505,419 shares of the company’s stock, valued at approximately $43,310,904.63. This represents a 14.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Steven John Bandrowczak purchased 5,100 shares of the stock in a transaction dated Monday, August 10th. The stock was bought at an average cost of $19.63 per share, with a total value of $100,113.00. Following the transaction, the director owned 39,186 shares in the company, valued at $769,221.18. The trade was a 14.96% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 51.53% of the company’s stock.
Galaxy Digital Trading Down 3.2%
NASDAQ GLXY opened at $19.52 on Tuesday. The stock has a market cap of $7.61 billion, a P/E ratio of -30.03 and a beta of 5.06. Galaxy Digital Inc. has a fifty-two week low of $16.43 and a fifty-two week high of $45.92. The stock has a 50 day simple moving average of $26.19 and a two-hundred day simple moving average of $25.02. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.70 and a current ratio of 1.70.
Galaxy Digital (NASDAQ:GLXY – Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.27. The firm had revenue of $8.71 billion during the quarter. Galaxy Digital had a negative net margin of 0.75% and a negative return on equity of 6.10%. During the same period in the prior year, the business posted $0.08 earnings per share. On average, analysts forecast that Galaxy Digital Inc. will post -0.74 earnings per share for the current year.
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.
Featured Articles
- Five stocks we like better than Galaxy Digital
- SoundHound AI Sends a Loud Signal After Its Q2 Earnings Beat
- 3 Dividend Champion Utilities for a Market That Can’t Sit Still
- These 3 Most-Upgraded Stocks Have Almost Nothing to Do With AI
- First Solar’s Profit Engine Faces a New Policy Test in Washington
Want to see what other hedge funds are holding GLXY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Galaxy Digital Inc. (NASDAQ:GLXY – Free Report).
Receive News & Ratings for Galaxy Digital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Galaxy Digital and related companies with MarketBeat.com's FREE daily email newsletter.
