Clearline Capital LP Takes $4.03 Million Position in Galaxy Digital Inc. $GLXY

Clearline Capital LP purchased a new stake in shares of Galaxy Digital Inc. (NASDAQ:GLXY) during the 4th quarter, Holdings Channel.com reports. The fund purchased 180,392 shares of the company’s stock, valued at approximately $4,034,000.

Several other hedge funds have also modified their holdings of the stock. Banco Bilbao Vizcaya Argentaria S.A. grew its stake in shares of Galaxy Digital by 75.6% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 65,806 shares of the company’s stock valued at $1,475,000 after purchasing an additional 28,330 shares during the last quarter. Freestone Grove Partners LP increased its position in Galaxy Digital by 11.1% in the fourth quarter. Freestone Grove Partners LP now owns 500,000 shares of the company’s stock worth $11,180,000 after purchasing an additional 50,000 shares during the period. Value Aligned Research Advisors LLC bought a new stake in Galaxy Digital during the 4th quarter worth about $23,727,000. Schonfeld Strategic Advisors LLC bought a new stake in Galaxy Digital during the 4th quarter worth about $452,000. Finally, AQR Capital Management LLC bought a new stake in Galaxy Digital during the 4th quarter worth about $522,000.

Wall Street Analysts Forecast Growth

GLXY has been the subject of several recent research reports. Chardan Capital reissued a “buy” rating and set a $35.00 price objective on shares of Galaxy Digital in a report on Monday, May 4th. BTIG Research reissued a “buy” rating and set a $50.00 price objective on shares of Galaxy Digital in a report on Thursday, May 21st. Piper Sandler dropped their price objective on Galaxy Digital from $42.00 to $36.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. Citigroup boosted their price objective on Galaxy Digital from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Wednesday, March 18th. Finally, Wall Street Zen upgraded Galaxy Digital from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 2nd. Twelve analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Galaxy Digital has an average rating of “Moderate Buy” and a consensus target price of $39.50.

Galaxy Digital Trading Down 0.4%

NASDAQ GLXY opened at $33.04 on Thursday. The stock has a market capitalization of $12.88 billion and a price-to-earnings ratio of -68.83. The stock’s 50 day moving average price is $28.07 and its two-hundred day moving average price is $25.42. 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 Inc. has a 52 week low of $16.43 and a 52 week high of $45.92.

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

Insider Buying and Selling

In other Galaxy Digital news, Director Michael D. Daffey sold 250,000 shares of the business’s stock in a transaction that occurred 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 owned 1,505,419 shares in the company, valued at approximately $43,310,904.63. The trade was a 14.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 51.53% of the company’s stock.

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.