Galaxy Digital Inc. (NASDAQ:GLXY) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Galaxy Digital Inc. (NASDAQ:GLXY) has received an average recommendation of “Moderate Buy” from the fifteen analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $39.50.

GLXY has been the subject of several research analyst reports. Citizens Jmp restated a “market outperform” rating and issued a $55.00 price target on shares of Galaxy Digital in a research report on Wednesday, April 29th. Wall Street Zen upgraded shares of Galaxy Digital from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 2nd. 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. Citigroup upped their price target on shares of Galaxy Digital from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Wednesday, March 18th. Finally, BTIG Research restated a “buy” rating and issued a $50.00 price target on shares of Galaxy Digital in a research report on Thursday, May 21st.

Insider Activity at Galaxy Digital

In related news, Director Michael D. Daffey sold 250,000 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $28.77, for a total value of $7,192,500.00. Following the completion of the sale, the director owned 1,505,419 shares in the company, valued at approximately $43,310,904.63. This represents a 14.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 51.53% of the company’s stock.

Institutional Investors Weigh In On Galaxy Digital

Hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. lifted its position in Galaxy Digital by 2.1% in the 3rd quarter. Victory Capital Management Inc. now owns 19,596 shares of the company’s stock worth $663,000 after buying an additional 411 shares in the last quarter. Private Advisor Group LLC lifted its position in Galaxy Digital by 6.9% in the 1st quarter. Private Advisor Group LLC now owns 10,108 shares of the company’s stock worth $186,000 after buying an additional 655 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Galaxy Digital by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 52,879 shares of the company’s stock worth $1,182,000 after buying an additional 666 shares in the last quarter. Main Management ETF Advisors LLC lifted its position in Galaxy Digital by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 71,253 shares of the company’s stock worth $1,593,000 after buying an additional 728 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in Galaxy Digital by 2.3% in the 4th quarter. Cetera Investment Advisers now owns 32,963 shares of the company’s stock worth $737,000 after buying an additional 742 shares in the last quarter.

Galaxy Digital Trading Down 7.7%

Shares of NASDAQ:GLXY opened at $30.15 on Thursday. The stock has a market capitalization of $11.76 billion and a price-to-earnings ratio of -62.81. Galaxy Digital has a 1-year low of $16.43 and a 1-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 company has a 50 day moving average price of $26.53 and a 200 day moving average price of $25.13.

Galaxy Digital (NASDAQ:GLXY) last issued its earnings results on Tuesday, April 28th. The company reported ($0.49) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.10. The firm had revenue of $10.21 billion during the quarter. Galaxy Digital had a negative net margin of 0.54% and a negative return on equity of 2.30%. During the same quarter in the previous year, the business posted ($0.86) earnings per share. On average, research analysts anticipate that Galaxy Digital will post -0.32 EPS for the current fiscal 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.