Zweig DiMenna Associates LLC Purchases Shares of 178,350 Galaxy Digital Inc. $GLXY

Zweig DiMenna Associates LLC purchased a new stake in Galaxy Digital Inc. (NASDAQ:GLXY) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 178,350 shares of the company’s stock, valued at approximately $6,030,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. CWM LLC lifted its stake in Galaxy Digital by 20.8% during the 3rd quarter. CWM LLC now owns 1,419 shares of the company’s stock worth $48,000 after acquiring an additional 244 shares in the last quarter. Belpointe Asset Management LLC increased its position in shares of Galaxy Digital by 6.8% in the 3rd quarter. Belpointe Asset Management LLC now owns 13,641 shares of the company’s stock valued at $461,000 after purchasing an additional 867 shares during the last quarter. ORG Partners LLC raised its stake in Galaxy Digital by 1,110.0% in the third quarter. ORG Partners LLC now owns 968 shares of the company’s stock valued at $36,000 after buying an additional 888 shares in the last quarter. North Star Investment Management Corp. purchased a new stake in Galaxy Digital during the third quarter worth approximately $34,000. Finally, Manchester Capital Management LLC purchased a new stake in shares of Galaxy Digital during the 2nd quarter worth approximately $32,000.

Galaxy Digital Price Performance

Shares of NASDAQ:GLXY opened at $21.66 on Tuesday. The firm has a market capitalization of $8.46 billion and a price-to-earnings ratio of 180.50. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.35. The business’s 50 day simple moving average is $25.87 and its 200-day simple moving average is $28.90. Galaxy Digital Inc. has a 12 month low of $8.20 and a 12 month high of $45.92.

Galaxy Digital (NASDAQ:GLXY) last issued its quarterly earnings data on Tuesday, February 3rd. The company reported ($1.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.24) by $0.16. The firm had revenue of $10.37 billion for the quarter, compared to analyst estimates of $13.08 billion.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GLXY. Citizens Jmp reissued a “market outperform” rating and issued a $60.00 target price on shares of Galaxy Digital in a research report on Wednesday, February 4th. Canaccord Genuity Group reissued a “buy” rating and set a $50.00 price target on shares of Galaxy Digital in a report on Friday, January 30th. Morgan Stanley lowered their price objective on Galaxy Digital from $43.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, February 4th. BTIG Research reissued a “buy” rating and set a $50.00 target price on shares of Galaxy Digital in a research note on Tuesday, February 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Galaxy Digital in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Galaxy Digital currently has an average rating of “Moderate Buy” and an average target price of $45.23.

Insider Buying and Selling

In other Galaxy Digital news, Director Douglas R. Deason purchased 25,000 shares of Galaxy Digital stock in a transaction on Wednesday, February 4th. The shares were bought at an average price of $20.80 per share, with a total value of $520,000.00. Following the completion of the acquisition, the director directly owned 59,000 shares of the company’s stock, valued at approximately $1,227,200. This trade represents a 73.53% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Galaxy Digital 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.