Rovida Investment Management Ltd Sells 50,000 Shares of Galaxy Digital Inc. $GLXY

Rovida Investment Management Ltd trimmed its position in shares of Galaxy Digital Inc. (NASDAQ:GLXY) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,811,200 shares of the company’s stock after selling 50,000 shares during the quarter. Galaxy Digital accounts for approximately 5.5% of Rovida Investment Management Ltd’s portfolio, making the stock its 6th largest holding. Rovida Investment Management Ltd’s holdings in Galaxy Digital were worth $40,535,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Galaxy Digital by 27.5% during the fourth quarter. Vanguard Group Inc. now owns 20,669,893 shares of the company’s stock worth $462,310,000 after acquiring an additional 4,463,782 shares during the period. SG Americas Securities LLC increased its stake in shares of Galaxy Digital by 173.8% during the fourth quarter. SG Americas Securities LLC now owns 252,558 shares of the company’s stock worth $5,647,000 after acquiring an additional 160,305 shares during the period. Pictet Asset Management Holding SA increased its stake in shares of Galaxy Digital by 184.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 80,708 shares of the company’s stock worth $1,808,000 after acquiring an additional 52,334 shares during the period. Encompass More Asset Management acquired a new position in shares of Galaxy Digital during the fourth quarter worth about $896,000. Finally, Capelight Capital Asset Management LP acquired a new position in shares of Galaxy Digital during the fourth quarter worth about $4,025,000.

Galaxy Digital Stock Performance

Shares of GLXY opened at $29.58 on Monday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.70 and a current ratio of 1.70. The company has a market capitalization of $11.53 billion and a price-to-earnings ratio of -61.62. The company’s 50 day simple moving average is $25.04 and its 200 day simple moving average is $25.00. Galaxy Digital Inc. has a 1 year low of $16.43 and a 1 year high of $45.92.

Galaxy Digital (NASDAQ:GLXY) last announced its quarterly earnings data on Tuesday, April 28th. The company reported ($0.49) earnings per share (EPS) 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 previous year, the company posted ($0.86) EPS. On average, sell-side analysts predict that Galaxy Digital Inc. will post -0.32 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on GLXY shares. Canaccord Genuity Group restated a “buy” rating and set a $50.00 target price on shares of Galaxy Digital in a research report on Friday, April 24th. HC Wainwright lowered their target price on shares of Galaxy Digital from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, February 4th. Weiss Ratings lowered shares of Galaxy Digital from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Tuesday, May 26th. Citigroup upped their target price on shares of Galaxy Digital from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 18th. Finally, Rosenblatt Securities restated a “buy” rating and set a $39.00 target price on shares of Galaxy Digital in a research report on Thursday, April 23rd. Twelve 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. Based on data from MarketBeat, Galaxy Digital presently has an average rating of “Moderate Buy” and a consensus price target of $39.50.

Insider Activity

In related news, Director Michael D. Daffey sold 250,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director owned 1,505,419 shares of the company’s stock, valued at approximately $43,310,904.63. This represents a 14.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 51.53% of the company’s stock.

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.