Galaxy Digital Inc. $GLXY Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lowered its position in Galaxy Digital Inc. (NASDAQ:GLXY) by 20.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,453,735 shares of the company’s stock after selling 374,671 shares during the period. Van ECK Associates Corp owned approximately 0.37% of Galaxy Digital worth $39,745,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of GLXY. Victory Capital Management Inc. lifted its stake in Galaxy Digital by 2.1% during the 3rd quarter. Victory Capital Management Inc. now owns 19,596 shares of the company’s stock valued at $663,000 after acquiring an additional 411 shares during the period. Private Advisor Group LLC boosted its holdings in shares of Galaxy Digital by 6.9% in the 1st quarter. Private Advisor Group LLC now owns 10,108 shares of the company’s stock valued at $186,000 after acquiring an additional 655 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Galaxy Digital by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 52,879 shares of the company’s stock worth $1,182,000 after acquiring an additional 666 shares during the period. Main Management ETF Advisors LLC raised its holdings in shares of Galaxy Digital by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 71,253 shares of the company’s stock worth $1,593,000 after purchasing an additional 728 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of Galaxy Digital by 2.3% during the fourth quarter. Cetera Investment Advisers now owns 32,963 shares of the company’s stock worth $737,000 after purchasing an additional 742 shares during the last quarter.

Insider Activity

In other Galaxy Digital news, Director Douglas R. Deason purchased 12,000 shares of the stock in a transaction on Wednesday, August 12th. The shares were bought at an average price of $21.54 per share, for a total transaction of $258,480.00. Following the completion of the transaction, the director owned 71,000 shares of the company’s stock, valued at $1,529,340. This trade represents a 20.34% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Steven John Bandrowczak purchased 5,100 shares of the stock in a transaction on Monday, August 10th. The shares were acquired at an average price of $19.63 per share, for a total transaction of $100,113.00. Following the transaction, the director directly owned 39,186 shares of the company’s stock, valued at $769,221.18. This represents a 14.96% increase in their position. The SEC filing for this purchase provides additional information. 51.53% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on GLXY. Wall Street Zen raised shares of Galaxy Digital from a “strong sell” rating to a “sell” rating in a report on Saturday, May 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Galaxy Digital in a research note on Friday, August 21st. BTIG Research reduced their price objective 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. Zacks Research cut Galaxy Digital from a “hold” rating to a “strong sell” rating in a report on Monday, July 20th. Finally, Piper Sandler lowered their target price on Galaxy Digital from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Friday, July 17th. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.67.

Galaxy Digital Stock Down 8.2%

GLXY stock opened at $23.21 on Friday. Galaxy Digital Inc. has a one year low of $16.43 and a one year high of $45.92. 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 fifty day moving average is $23.72 and its 200 day moving average is $24.57. The firm has a market cap of $9.07 billion, a PE ratio of -35.71 and a beta of 5.06.

Galaxy Digital (NASDAQ:GLXY) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, topping 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 business had revenue of $8.71 billion during the quarter. During the same quarter last year, the company posted $0.08 EPS. On average, research analysts forecast that Galaxy Digital Inc. will post -0.82 EPS for the current 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.