Insider Buying: Galaxy Digital (NASDAQ:GLXY) Director Purchases $258,480.00 in Stock

Galaxy Digital Inc. (NASDAQ:GLXY) Director Douglas Deason acquired 12,000 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were bought at an average cost of $21.54 per share, for a total transaction of $258,480.00. Following the completion of the transaction, the director directly owned 71,000 shares of the company’s stock, valued at $1,529,340. This represents a 20.34% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

Galaxy Digital Price Performance

Galaxy Digital stock opened at $21.66 on Monday. The firm has a market cap of $8.47 billion, a PE ratio of -33.32 and a beta of 5.06. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.50 and a current ratio of 1.50. The firm’s 50 day moving average price is $25.64 and its two-hundred day moving average price is $24.72. Galaxy Digital Inc. has a twelve month low of $16.43 and a twelve month high of $45.92.

Galaxy Digital (NASDAQ:GLXY) last issued its earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.27. Galaxy Digital had a negative net margin of 0.75% and a negative return on equity of 6.25%. The company had revenue of $8.71 billion during the quarter. During the same period last year, the business earned $0.08 EPS. On average, research analysts predict that Galaxy Digital Inc. will post -0.82 EPS for the current fiscal year.

Hedge Funds Weigh In On Galaxy Digital

Several institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd boosted its stake in shares of Galaxy Digital by 183.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,434 shares of the company’s stock worth $32,000 after acquiring an additional 928 shares in the last quarter. Picton Mahoney Asset Management lifted its holdings in Galaxy Digital by 200.0% in the 4th quarter. Picton Mahoney Asset Management now owns 1,500 shares of the company’s stock worth $34,000 after purchasing an additional 1,000 shares during the last quarter. Danske Bank A S acquired a new stake in Galaxy Digital in the 4th quarter worth approximately $36,000. Northwestern Mutual Wealth Management Co. bought a new stake in Galaxy Digital during the fourth quarter worth approximately $46,000. Finally, Hollencrest Capital Management boosted its position in Galaxy Digital by 204.0% during the first quarter. Hollencrest Capital Management now owns 2,584 shares of the company’s stock worth $48,000 after purchasing an additional 1,734 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GLXY. Rosenblatt Securities reduced their price objective on Galaxy Digital from $39.00 to $35.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. 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. Morgan Stanley reiterated an “overweight” rating and set a $37.00 price target on shares of Galaxy Digital in a report on Wednesday, April 29th. BTIG Research lowered their price target on Galaxy Digital from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Finally, Zacks Research downgraded Galaxy Digital from a “hold” rating to a “strong sell” rating in a report on Monday, July 20th. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $38.83.

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.