Galaxy Digital (NASDAQ:GLXY) Posts Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Galaxy Digital (NASDAQ:GLXY) announced its quarterly earnings data on Tuesday. The company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.59) by $0.10, FiscalAI reports. During the same period in the previous year, the firm posted ($0.86) earnings per share.

Galaxy Digital Trading Down 3.7%

GLXY opened at $25.05 on Tuesday. The firm has a market cap of $9.75 billion and a price-to-earnings ratio of 208.75. Galaxy Digital has a 52 week low of $14.30 and a 52 week high of $45.92. The business’s 50 day moving average is $21.72 and its two-hundred day moving average is $26.19. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.80.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GLXY. Weiss Ratings lowered Galaxy Digital from a “hold (c)” rating to a “sell (d+)” rating in a research report on Thursday, March 5th. Rosenblatt Securities restated a “buy” rating and set a $39.00 price target on shares of Galaxy Digital in a research note on Thursday, April 23rd. BTIG Research reaffirmed a “buy” rating and set a $50.00 price target on shares of Galaxy Digital in a research report on Tuesday, April 14th. The Goldman Sachs Group cut their price target on Galaxy Digital from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 8th. Finally, Chardan Capital began coverage on Galaxy Digital in a research report on Monday. They set a “buy” rating and a $35.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $39.43.

Insider Buying and Selling at Galaxy Digital

In related news, Director Douglas R. Deason bought 25,000 shares of the stock in a transaction on Wednesday, February 4th. The shares were bought at an average cost of $20.80 per share, for a total transaction of $520,000.00. Following the purchase, the director owned 59,000 shares of the company’s stock, valued at $1,227,200. This trade represents a 73.53% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 51.53% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. ORG Partners LLC grew its stake in shares of Galaxy Digital by 1,110.0% in the 3rd quarter. ORG Partners LLC now owns 968 shares of the company’s stock valued at $36,000 after purchasing an additional 888 shares during the last quarter. North Star Investment Management Corp. purchased a new position in shares of Galaxy Digital in the 3rd quarter valued at approximately $34,000. CWM LLC grew its stake in shares of Galaxy Digital by 20.8% in the 3rd quarter. CWM LLC now owns 1,419 shares of the company’s stock valued at $48,000 after purchasing an additional 244 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of Galaxy Digital by 183.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,434 shares of the company’s stock valued at $32,000 after purchasing an additional 928 shares during the last quarter. Finally, Picton Mahoney Asset Management grew its stake in shares of Galaxy Digital by 200.0% in the 4th quarter. Picton Mahoney Asset Management now owns 1,500 shares of the company’s stock valued at $34,000 after purchasing an additional 1,000 shares during the last quarter.

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.