Capelight Capital Asset Management LP Raises Stock Position in Galaxy Digital Inc. $GLXY

Capelight Capital Asset Management LP increased its holdings in shares of Galaxy Digital Inc. (NASDAQ:GLXY) by 13.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 205,000 shares of the company’s stock after purchasing an additional 25,000 shares during the quarter. Galaxy Digital makes up 2.7% of Capelight Capital Asset Management LP’s portfolio, making the stock its 15th biggest holding. Capelight Capital Asset Management LP’s holdings in Galaxy Digital were worth $3,782,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Victory Capital Management Inc. increased its stake in Galaxy Digital by 2.1% in the 3rd quarter. Victory Capital Management Inc. now owns 19,596 shares of the company’s stock worth $663,000 after acquiring an additional 411 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of Galaxy Digital by 6.9% in the 1st quarter. Private Advisor Group LLC now owns 10,108 shares of the company’s stock valued at $186,000 after acquiring an additional 655 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Galaxy Digital by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 52,879 shares of the company’s stock worth $1,182,000 after acquiring an additional 666 shares in the last quarter. Main Management ETF Advisors LLC grew its position in 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 in the last quarter. Finally, Cetera Investment Advisers increased its stake in Galaxy Digital by 2.3% during the fourth quarter. Cetera Investment Advisers now owns 32,963 shares of the company’s stock worth $737,000 after acquiring an additional 742 shares during the last quarter.

Galaxy Digital Price Performance

GLXY opened at $24.59 on Friday. The business has a fifty day moving average of $29.52 and a 200 day moving average of $25.61. Galaxy Digital Inc. has a 52-week low of $16.43 and a 52-week high of $45.92. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.94. The stock has a market cap of $9.59 billion, a P/E ratio of -51.23 and a beta of 4.84.

Galaxy Digital (NASDAQ:GLXY) last released its earnings results on Tuesday, April 28th. The company reported ($0.49) earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $10.21 billion for the quarter. During the same quarter in the previous year, the business earned ($0.86) EPS. As a group, sell-side analysts anticipate that Galaxy Digital Inc. will post -0.32 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. BTIG Research restated a “buy” rating and set a $50.00 price objective on shares of Galaxy Digital in a research report on Thursday, May 21st. Weiss Ratings downgraded Galaxy Digital from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Tuesday, May 26th. Wall Street Zen upgraded Galaxy Digital from a “strong sell” rating to a “sell” rating in a report on Saturday, May 2nd. Citigroup raised their price target on Galaxy Digital from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 18th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $35.00 price objective on shares of Galaxy Digital in a research note on Monday, May 4th. Twelve research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $39.50.

Insider Activity at Galaxy Digital

In related news, Director Michael D. Daffey sold 250,000 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $28.77, for a total value of $7,192,500.00. Following the transaction, the director owned 1,505,419 shares of the company’s stock, valued at $43,310,904.63. This trade represents a 14.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 51.53% of the company’s stock.

Galaxy Digital 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.