OP Asset Management Ltd Acquires New Holdings in Galaxy Digital Inc. $GLXY

OP Asset Management Ltd bought a new position in Galaxy Digital Inc. (NASDAQ:GLXY) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 50,937 shares of the company’s stock, valued at approximately $940,000.

A number of other large investors have also added to or reduced their stakes in GLXY. Victory Capital Management Inc. raised 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 buying an additional 411 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Galaxy Digital by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 52,879 shares of the company’s stock worth $1,182,000 after buying an additional 666 shares during the last quarter. Main Management ETF Advisors LLC grew its holdings in shares of Galaxy Digital by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 71,253 shares of the company’s stock worth $1,593,000 after acquiring an additional 728 shares during the period. Cetera Investment Advisers increased its position in Galaxy Digital by 2.3% during the fourth quarter. Cetera Investment Advisers now owns 32,963 shares of the company’s stock valued at $737,000 after acquiring an additional 742 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its holdings in Galaxy Digital by 6.7% in the third quarter. Raymond James Financial Inc. now owns 13,768 shares of the company’s stock valued at $465,000 after acquiring an additional 868 shares during the period.

Insider Activity at Galaxy Digital

In other news, Director Michael D. Daffey sold 250,000 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $28.77, for a total transaction of $7,192,500.00. Following the sale, the director directly owned 1,505,419 shares in the company, valued at $43,310,904.63. This trade represents a 14.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 51.53% of the stock is owned by insiders.

Galaxy Digital Trading Down 2.5%

Galaxy Digital stock opened at $28.53 on Tuesday. Galaxy Digital Inc. has a 12-month low of $16.43 and a 12-month high of $45.92. The firm has a market capitalization of $11.12 billion and a price-to-earnings ratio of -59.44. The firm has a 50 day moving average of $29.52 and a 200 day moving average of $25.66. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.94.

Galaxy Digital (NASDAQ:GLXY) last issued its quarterly earnings results on Tuesday, April 28th. The company reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($0.59) by $0.10. The business had revenue of $10.21 billion for the quarter. Galaxy Digital had a negative net margin of 0.54% and a negative return on equity of 2.30%. During the same period in the prior year, the firm earned ($0.86) EPS. As a group, research analysts predict that Galaxy Digital Inc. will post -0.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GLXY. Citizens Jmp restated a “market outperform” rating and set a $55.00 price target on shares of Galaxy Digital in a research note on Wednesday, April 29th. Citigroup increased their price objective on shares of Galaxy Digital from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 18th. Chardan Capital restated a “buy” rating and set a $35.00 target price on shares of Galaxy Digital in a research report on Monday, May 4th. Morgan Stanley reiterated an “overweight” rating and issued a $37.00 price target on shares of Galaxy Digital in a research report on Wednesday, April 29th. Finally, Wall Street Zen upgraded Galaxy Digital from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 2nd. Twelve equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Galaxy Digital currently has an average rating of “Moderate Buy” and a consensus price target of $39.50.

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.