Galaxy Digital Inc. $GLXY Shares Newly Acquired by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP purchased a new stake in shares of Galaxy Digital Inc. (NASDAQ:GLXY) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 78,142 shares of the company’s stock, valued at approximately $1,803,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC lifted its stake in Galaxy Digital by 2.5% in the third quarter. Commonwealth Equity Services LLC now owns 31,541 shares of the company’s stock worth $717,000 after purchasing an additional 767 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Galaxy Digital during the third quarter valued at approximately $37,000. Apollon Wealth Management LLC grew its stake in shares of Galaxy Digital by 8.5% during the third quarter. Apollon Wealth Management LLC now owns 55,164 shares of the company’s stock valued at $1,254,000 after buying an additional 4,330 shares during the last quarter. Inspire Investing LLC grew its stake in shares of Galaxy Digital by 58.9% during the third quarter. Inspire Investing LLC now owns 23,374 shares of the company’s stock valued at $532,000 after buying an additional 8,665 shares during the last quarter. Finally, Reyes Financial Architecture Inc. bought a new position in shares of Galaxy Digital during the third quarter valued at approximately $30,000.

Galaxy Digital Price Performance

GLXY stock opened at $14.11 on Wednesday. Galaxy Digital Inc. has a 1-year low of $11.78 and a 1-year high of $36.10. The business has a 50-day moving average price of $20.48 and a 200 day moving average price of $23.64. 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 (NASDAQ:GLXY) last issued its earnings results on Tuesday, October 27th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.54. The company had revenue of $8.69 billion for the quarter. Galaxy Digital had a negative net margin of 0.89% and a negative return on equity of 10.30%. As a group, equities research analysts anticipate that Galaxy Digital Inc. will post -0.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GLXY shares. Weiss Ratings downgraded Galaxy Digital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 23rd. Citigroup raised Galaxy Digital from a “neutral” rating to a “buy” rating and upped their price objective for the company from $26.00 to $28.00 in a research report on Tuesday, October 13th. Rosenblatt Securities reduced their target price on Galaxy Digital from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Monday, October 26th. The Goldman Sachs Group set a $20.50 target price on Galaxy Digital in a research report on Tuesday, October 27th. Finally, HC Wainwright decreased their target price on Galaxy Digital from $40.00 to $36.00 and set a “buy” rating for the company in a research report on Wednesday, October 28th. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Galaxy Digital presently has an average rating of “Moderate Buy” and an average price target of $33.96.

Insider Buying and Selling at Galaxy Digital

In other news, insider Matthew Friedrich sold 4,993 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider owned 275,782 shares of the company’s stock, valued at approximately $7,454,387.46. This represents a 1.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Douglas Deason purchased 5,000 shares of the stock in a transaction dated Friday, November 6th. The stock was acquired at an average cost of $13.98 per share, with a total value of $69,900.00. Following the transaction, the director directly owned 76,000 shares in the company, valued at approximately $1,062,480. This trade represents a 7.04% increase in their position. The disclosure for this purchase is available in the SEC filing. 51.53% of the stock is currently owned by corporate insiders.

Galaxy Digital Company Profile

Galaxy Digital is a financial services and investment management company focused on digital assets and blockchain technology. Its businesses include trading and other financial services for institutions, investment and asset management, and digital infrastructure, including data center and bitcoin mining operations. Founded in 2018 by Michael Novogratz, the company serves institutional clients and investors in the United States and other markets. Novogratz is Galaxy’s founder and chief executive officer.