Galaxy Digital Inc. $GLXY Holdings Trimmed by Weiss Asset Management LP

Weiss Asset Management LP reduced its position in shares of Galaxy Digital Inc. (NASDAQ:GLXY) by 10.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 317,394 shares of the company’s stock after selling 35,883 shares during the quarter. Weiss Asset Management LP owned 0.08% of Galaxy Digital worth $5,856,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Caitong International Asset Management Co. Ltd boosted its position in shares of Galaxy Digital by 183.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,434 shares of the company’s stock worth $32,000 after buying an additional 928 shares during the period. Picton Mahoney Asset Management raised its position in Galaxy Digital by 200.0% during the fourth quarter. Picton Mahoney Asset Management now owns 1,500 shares of the company’s stock valued at $34,000 after buying an additional 1,000 shares during the period. Danske Bank A S purchased a new stake in Galaxy Digital in the 4th quarter worth about $36,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Galaxy Digital in the 4th quarter worth about $46,000. Finally, Hollencrest Capital Management lifted its stake in Galaxy Digital by 204.0% in the 1st quarter. Hollencrest Capital Management now owns 2,584 shares of the company’s stock worth $48,000 after acquiring an additional 1,734 shares in the last quarter.

Analysts Set New Price Targets

GLXY has been the topic of several research analyst reports. Piper Sandler lowered their target price on Galaxy Digital from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Friday, July 17th. Chardan Capital restated a “buy” rating and set a $35.00 price target on shares of Galaxy Digital in a report on Monday, May 4th. Zacks Research lowered shares of Galaxy Digital from a “hold” rating to a “strong sell” rating in a research note on Monday, July 20th. BTIG Research restated a “buy” rating and set a $50.00 price target on shares of Galaxy Digital in a report on Thursday, May 21st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 price target on shares of Galaxy Digital in a research note on Friday, May 1st. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Galaxy Digital has an average rating of “Moderate Buy” and an average target price of $39.62.

Galaxy Digital Trading Down 6.7%

Shares of NASDAQ:GLXY opened at $22.68 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $8.84 billion, a PE ratio of -47.25 and a beta of 4.84. Galaxy Digital Inc. has a 1 year low of $16.43 and a 1 year high of $45.92. The firm has a fifty day moving average price of $28.06 and a 200 day moving average price of $25.65.

Galaxy Digital (NASDAQ:GLXY) last posted its 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. Galaxy Digital had a negative return on equity of 2.30% and a negative net margin of 0.54%.The company had revenue of $10.21 billion for the quarter. During the same quarter last year, the business earned ($0.86) earnings per share. Analysts expect that Galaxy Digital Inc. will post -0.5 EPS for the current fiscal year.

Insider Activity

In other news, Director Michael D. Daffey sold 250,000 shares of the stock in a transaction dated Thursday, May 21st. The stock was 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 51.53% of the company’s stock.

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.