VIRGINIA RETIREMENT SYSTEMS ET Al Purchases Shares of 56,750 Galaxy Digital Inc. $GLXY

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Galaxy Digital Inc. (NASDAQ:GLXY) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 56,750 shares of the company’s stock, valued at approximately $1,552,000.

A number of other hedge funds also recently made changes to their positions in GLXY. Victory Capital Management Inc. lifted its stake in shares of Galaxy Digital by 2.1% in the third 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 period. Triumph Capital Management increased its position in Galaxy Digital by 13.2% during the 2nd quarter. Triumph Capital Management now owns 4,893 shares of the company’s stock valued at $134,000 after purchasing an additional 572 shares during the period. Private Advisor Group LLC increased its position in Galaxy Digital by 6.9% during the 1st quarter. Private Advisor Group LLC now owns 10,108 shares of the company’s stock valued at $186,000 after purchasing an additional 655 shares during the period. Dimensional Fund Advisors LP raised its holdings in Galaxy Digital by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 52,879 shares of the company’s stock worth $1,182,000 after purchasing an additional 666 shares during the last quarter. Finally, Main Management ETF Advisors LLC raised its holdings in Galaxy Digital by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 71,253 shares of the company’s stock worth $1,593,000 after purchasing an additional 728 shares during the last quarter.

Insider Buying and Selling

In other news, insider Matthew W. Friedrich sold 4,993 shares of the company’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $27.03, for a total transaction of $134,960.79. Following the transaction, the insider owned 275,782 shares in the company, valued at approximately $7,454,387.46. This represents a 1.78% decrease in their ownership of the stock. 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 R. Deason acquired 12,000 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were bought at an average price of $21.54 per share, for a total transaction of $258,480.00. Following the acquisition, the director directly owned 71,000 shares of the company’s stock, valued at approximately $1,529,340. This trade represents a 20.34% increase in their position. The SEC filing for this purchase provides additional information. 51.53% of the stock is owned by insiders.

Galaxy Digital Price Performance

Shares of GLXY opened at $24.40 on Friday. The firm has a market cap of $9.54 billion, a PE ratio of -37.54 and a beta of 5.10. Galaxy Digital Inc. has a 52-week low of $16.43 and a 52-week high of $45.92. The business’s 50 day moving average price is $23.13 and its two-hundred day moving average price is $24.85. 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 released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.27. Galaxy Digital had a negative net margin of 0.75% and a negative return on equity of 6.25%. The company had revenue of $8.71 billion during the quarter. During the same quarter in the prior year, the firm earned $0.08 EPS. On average, equities analysts anticipate that Galaxy Digital Inc. will post -0.79 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GLXY. Piper Sandler reduced their price objective on shares of Galaxy Digital from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Friday, July 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Galaxy Digital in a research note on Friday, August 21st. Rosenblatt Securities dropped their target price on shares of Galaxy Digital from $39.00 to $35.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Chardan Capital reaffirmed a “buy” rating and set a $35.00 price target on shares of Galaxy Digital in a research report on Wednesday, August 5th. Finally, Zacks Research downgraded Galaxy Digital from a “hold” rating to a “strong sell” rating in a report on Monday, July 20th. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.58.

Galaxy Digital Company Profile

Galaxy Digital Holdings Ltd. (NASDAQ: GLXY) is a financial services and technology company focused on the digital asset and blockchain ecosystem. Founded in 2018 by Michael Novogratz, the company provides institutions, entrepreneurs and other market participants with access to a range of cryptocurrency-related financial products and services.

Galaxy’s business activities include investment banking, trading and liquidity provision, asset management, and digital infrastructure. Its services may include capital raising and strategic advisory, over-the-counter and electronic trading, derivatives and other market-related activities, investment products, and infrastructure supporting blockchain networks and digital asset operations.

The company serves clients across global digital asset markets, with operations and business relationships spanning North America and other international financial centers.