Zweig DiMenna Associates LLC Takes $6.03 Million Position in Galaxy Digital Inc. $GLXY

Zweig DiMenna Associates LLC purchased a new position in Galaxy Digital Inc. (NASDAQ:GLXY) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 178,350 shares of the company’s stock, valued at approximately $6,030,000.

Other institutional investors also recently bought and sold shares of the company. CWM LLC lifted its position in shares of Galaxy Digital by 20.8% during the 3rd quarter. CWM LLC now owns 1,419 shares of the company’s stock valued at $48,000 after buying an additional 244 shares in the last quarter. Belpointe Asset Management LLC grew its position in shares of Galaxy Digital by 6.8% in the third quarter. Belpointe Asset Management LLC now owns 13,641 shares of the company’s stock valued at $461,000 after purchasing an additional 867 shares during the period. ORG Partners LLC grew its position in shares of Galaxy Digital by 1,110.0% in the third quarter. ORG Partners LLC now owns 968 shares of the company’s stock valued at $36,000 after purchasing an additional 888 shares during the period. North Star Investment Management Corp. acquired a new position in shares of Galaxy Digital during the 3rd quarter worth about $34,000. Finally, Manchester Capital Management LLC purchased a new position in Galaxy Digital in the 2nd quarter valued at about $32,000.

Wall Street Analyst Weigh In

Several research firms have commented on GLXY. Benchmark boosted their price objective on Galaxy Digital from $40.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. HC Wainwright reduced their price objective on Galaxy Digital from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, February 4th. Citigroup initiated coverage on Galaxy Digital in a report on Tuesday, December 9th. They issued an “outperform” rating on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $50.00 target price on shares of Galaxy Digital in a report on Friday, January 30th. Finally, Cantor Fitzgerald decreased their price target on shares of Galaxy Digital from $53.00 to $48.00 and set an “overweight” rating on the stock in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $45.23.

Insider Activity at Galaxy Digital

In other Galaxy Digital news, Director Douglas R. Deason bought 25,000 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was bought at an average price of $20.80 per share, with a total value of $520,000.00. Following the completion of the purchase, the director directly owned 59,000 shares in the company, valued at $1,227,200. The trade was a 73.53% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Galaxy Digital Stock Up 7.5%

NASDAQ GLXY opened at $21.66 on Tuesday. The business’s fifty day simple moving average is $25.87 and its 200-day simple moving average is $28.90. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.36. The firm has a market cap of $8.46 billion and a PE ratio of 180.50. Galaxy Digital Inc. has a 52 week low of $8.20 and a 52 week high of $45.92.

Galaxy Digital (NASDAQ:GLXY) last released its quarterly earnings data on Tuesday, February 3rd. The company reported ($1.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.24) by $0.16. The firm had revenue of $10.37 billion for the quarter, compared to analyst estimates of $13.08 billion.

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.