Galaxy Digital Inc. $GLXY Shares Acquired by Moore Capital Management LP

Moore Capital Management LP increased its position in Galaxy Digital Inc. (NASDAQ:GLXY) by 32.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,362,250 shares of the company’s stock after purchasing an additional 330,000 shares during the period. Moore Capital Management LP owned 0.36% of Galaxy Digital worth $46,069,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in GLXY. Manchester Capital Management LLC purchased a new position in Galaxy Digital during the 2nd quarter worth approximately $32,000. North Star Investment Management Corp. purchased a new stake in Galaxy Digital in the third quarter valued at approximately $34,000. ORG Partners LLC lifted 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 during the last quarter. TD Waterhouse Canada Inc. acquired a new stake in shares of Galaxy Digital in the second quarter valued at approximately $37,000. Finally, CWM LLC boosted its holdings in shares of Galaxy Digital by 20.8% in the third quarter. CWM LLC now owns 1,419 shares of the company’s stock valued at $48,000 after acquiring an additional 244 shares during the period.

Galaxy Digital Trading Up 3.4%

Shares of Galaxy Digital stock opened at $23.10 on Tuesday. Galaxy Digital Inc. has a 52-week low of $8.20 and a 52-week high of $45.92. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.80. The company’s 50-day simple moving average is $24.61 and its 200-day simple moving average is $28.23. The firm has a market cap of $9.02 billion and a price-to-earnings ratio of 192.50.

Galaxy Digital (NASDAQ:GLXY) last posted its quarterly earnings results on Tuesday, February 3rd. The company reported ($1.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.24) by $0.16. The business had revenue of $10.37 billion during the quarter, compared to analysts’ expectations of $13.08 billion.

Analyst Upgrades and Downgrades

GLXY has been the topic of a number of recent research reports. Morgan Stanley cut their target price on shares of Galaxy Digital from $43.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, February 4th. Weiss Ratings cut shares of Galaxy Digital from a “hold (c)” rating to a “sell (d+)” rating in a research note on Thursday, March 5th. Cantor Fitzgerald lowered their price objective on shares of Galaxy Digital from $53.00 to $48.00 and set an “overweight” rating on the stock in a research report on Monday, February 2nd. Citigroup started coverage on shares of Galaxy Digital in a research note on Wednesday, February 25th. They issued a “neutral” rating and a $25.00 price objective on the stock. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $46.00 target price on shares of Galaxy Digital in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.54.

Insider Activity at Galaxy Digital

In other news, Director Douglas R. Deason purchased 25,000 shares of the stock in a transaction that occurred on Wednesday, February 4th. The shares were acquired at an average price of $20.80 per share, for a total transaction of $520,000.00. Following the acquisition, the director directly owned 59,000 shares in the company, valued at approximately $1,227,200. The trade was a 73.53% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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.