Galaxy Digital Inc. $GLXY Stake Raised by Sullivan Wood Capital Management LLC

Sullivan Wood Capital Management LLC boosted its holdings in Galaxy Digital Inc. (NASDAQ:GLXY) by 4.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,460,546 shares of the company’s stock after purchasing an additional 55,804 shares during the quarter. Galaxy Digital makes up 49.1% of Sullivan Wood Capital Management LLC’s portfolio, making the stock its biggest holding. Sullivan Wood Capital Management LLC owned approximately 0.37% of Galaxy Digital worth $33,213,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. State Street Corp increased its position in Galaxy Digital by 99.7% during the second quarter. State Street Corp now owns 3,833,993 shares of the company’s stock worth $104,821,000 after purchasing an additional 1,913,688 shares during the last quarter. Fred Alger Management LLC raised its holdings in shares of Galaxy Digital by 572.1% in the 4th quarter. Fred Alger Management LLC now owns 1,165,251 shares of the company’s stock worth $26,055,000 after purchasing an additional 991,867 shares during the period. Moore Capital Management LP grew its holdings in shares of Galaxy Digital by 52.9% during the 2nd quarter. Moore Capital Management LP now owns 2,082,250 shares of the company’s stock worth $56,929,000 after purchasing an additional 720,000 shares during the period. Bank of America Corp DE increased its position in Galaxy Digital by 112.4% during the 2nd quarter. Bank of America Corp DE now owns 1,145,172 shares of the company’s stock worth $31,309,000 after purchasing an additional 605,986 shares in the last quarter. Finally, Anson Funds Management LP purchased a new position in Galaxy Digital in the first quarter valued at approximately $11,070,000.

Analysts Set New Price Targets

GLXY has been the topic of a number of research reports. Zacks Research raised shares of Galaxy Digital from a “strong sell” rating to a “hold” rating in a research note on Friday, September 18th. Weiss Ratings upgraded Galaxy Digital from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday. Citigroup raised Galaxy Digital from a “neutral” rating to a “buy” rating and set a $28.00 price objective on the stock in a research report on Tuesday. Rosenblatt Securities reduced their price target on Galaxy Digital from $39.00 to $35.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Finally, Chardan Capital restated a “buy” rating and issued a $35.00 price target on shares of Galaxy Digital in a report on Wednesday, August 5th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.33.

Galaxy Digital Stock Down 3.1%

Shares of NASDAQ GLXY traded down $0.61 during midday trading on Tuesday, reaching $19.26. 3,352,125 shares of the company’s stock were exchanged, compared to its average volume of 6,234,171. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.50 and a current ratio of 1.50. Galaxy Digital Inc. has a 52-week low of $16.43 and a 52-week high of $45.92. The business’s fifty day moving average price is $23.08 and its two-hundred day moving average price is $25.08. The stock has a market capitalization of $7.53 billion, a PE ratio of -29.65 and a beta of 5.11.

Galaxy Digital (NASDAQ:GLXY) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.27. Galaxy Digital had a negative return on equity of 6.25% and a negative net margin of 0.75%. The firm had revenue of $8.71 billion during the quarter. During the same period in the prior year, the company posted $0.08 EPS. Analysts forecast that Galaxy Digital Inc. will post -0.79 EPS for the current year.

Insider Activity

In related news, insider Matthew W. Friedrich sold 4,993 shares of the company’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $27.03, for a total value of $134,960.79. Following the sale, the insider directly owned 275,782 shares of the company’s stock, valued at $7,454,387.46. This represents a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Bandrowczak purchased 5,100 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was bought at an average cost of $19.63 per share, for a total transaction of $100,113.00. Following the completion of the acquisition, 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 ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 51.53% of the company’s stock.

Galaxy Digital Profile

Galaxy Digital (NASDAQ: GLXY) is a financial services and investment management company focused on digital assets, blockchain technology and related infrastructure. Founded in 2018 by Michael Novogratz, the company provides institutional clients with access to the digital asset ecosystem through trading, investment banking, asset management and principal investing activities.

Its services include spot and derivatives trading, lending and structured products, market making, capital raising and strategic advisory services for companies in the digital asset and blockchain sectors.