78,142 Shares in Galaxy Digital Inc. $GLXY Purchased by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP acquired a new stake in shares of Galaxy Digital Inc. (NASDAQ:GLXY) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 78,142 shares of the company’s stock, valued at approximately $1,803,000.

Several other hedge funds have also recently modified their holdings of GLXY. State Street Corp grew its stake in Galaxy Digital by 99.7% during the second quarter. State Street Corp now owns 3,833,993 shares of the company’s stock valued at $104,821,000 after acquiring an additional 1,913,688 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Galaxy Digital in the 2nd quarter valued at $1,456,000. Bank of America Corp DE lifted its stake in Galaxy Digital by 112.4% in the 2nd quarter. Bank of America Corp DE now owns 1,145,172 shares of the company’s stock worth $31,309,000 after purchasing an additional 605,986 shares in the last quarter. Squarepoint Ops LLC lifted its stake in Galaxy Digital by 67.5% in the 2nd quarter. Squarepoint Ops LLC now owns 144,335 shares of the company’s stock worth $3,946,000 after purchasing an additional 58,161 shares in the last quarter. Finally, Riposte Capital LLC purchased a new stake in Galaxy Digital in the 1st quarter worth $2,952,000.

Galaxy Digital Trading Down 2.8%

GLXY opened at $14.11 on Wednesday. Galaxy Digital Inc. has a 12 month low of $11.78 and a 12 month high of $36.10. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.04. The stock has a 50-day moving average of $20.48 and a 200 day moving average of $23.64.

Galaxy Digital (NASDAQ:GLXY) last issued its quarterly earnings data on Tuesday, October 27th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.54. The company had revenue of $8.69 billion for the quarter. Galaxy Digital had a negative return on equity of 10.30% and a negative net margin of 0.89%. On average, sell-side analysts expect that Galaxy Digital Inc. will post -0.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Medina Adams sold 12,000 shares of the stock in a transaction on Friday, October 30th. The stock was sold at an average price of $16.45, for a total transaction of $197,400.00. Following the sale, the director owned 107,919 shares in the company, valued at approximately $1,775,267.55. This represents a 10.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Matthew W. Friedrich sold 4,993 shares of the firm’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $27.03, for a total value of $134,960.79. Following the completion of the sale, the insider owned 275,782 shares of the company’s stock, valued at approximately $7,454,387.46. This represents a 1.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 51.53% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Maxim Group cut their price objective on Galaxy Digital from $46.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, October 22nd. HC Wainwright decreased their target price on Galaxy Digital from $40.00 to $36.00 and set a “buy” rating on the stock in a research report on Wednesday, October 28th. Weiss Ratings downgraded Galaxy Digital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 23rd. Piper Sandler dropped their price target on Galaxy Digital from $33.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday, October 20th. Finally, Morgan Stanley cut their price target on Galaxy Digital from $43.00 to $27.00 and set an “overweight” rating for the company in a report on Monday. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $33.96.

Galaxy Digital Profile

Galaxy Digital is a financial services and investment management company focused on digital assets and blockchain technology. Its businesses include trading and other financial services for institutions, investment and asset management, and digital infrastructure, including data center and bitcoin mining operations. Founded in 2018 by Michael Novogratz, the company serves institutional clients and investors in the United States and other markets. Novogratz is Galaxy’s founder and chief executive officer.