Key Points
- Director Douglas Deason bought 5,000 Galaxy Digital shares at an average price of $13.98, spending $69,900. The purchase increased his direct holdings by 7.04% to 76,000 shares.
- Galaxy Digital reported quarterly EPS of $0.83, beating the $0.29 analyst consensus, on revenue of $8.69 billion.
- Analysts’ average rating is “Moderate Buy”, with an average price target of $33.96; recent target revisions included cuts from Morgan Stanley and Rosenblatt Securities.
Galaxy Digital Inc. (NASDAQ:GLXY - Get Free Report) Director Douglas Deason purchased 5,000 shares of the firm's stock in a transaction dated Friday, November 6th. The stock was purchased at an average cost of $13.98 per share, with a total value of $69,900.00. Following the acquisition, the director directly owned 76,000 shares in the company, valued at $1,062,480. This trade represents a 7.04% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Galaxy Digital Stock Down 2.8%
Shares of Galaxy Digital stock opened at $14.11 on Wednesday. The business has a 50-day moving average of $20.48 and a two-hundred day moving average of $23.64. Galaxy Digital Inc. has a 1 year low of $11.78 and a 1 year high of $36.10. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.50 and a quick ratio of 1.50. The company has a market capitalization of $5.52 billion, a P/E ratio of -14.11 and a beta of 5.38.
Galaxy Digital (NASDAQ:GLXY - Get Free Report) last announced its quarterly earnings results on Tuesday, October 27th. The company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.54. The firm 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 analysts predict that Galaxy Digital Inc. will post -0.03 EPS for the current year.
Hedge Funds Weigh In On Galaxy Digital
Several hedge funds have recently modified their holdings of the stock. State Street Corp boosted its position in Galaxy Digital by 99.7% during the second quarter. State Street Corp now owns 3,833,993 shares of the company's stock valued at $104,821,000 after purchasing an additional 1,913,688 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Galaxy Digital during the 2nd quarter worth approximately $1,456,000. Riposte Capital LLC acquired a new position in shares of Galaxy Digital during the 1st quarter worth approximately $2,952,000. Bank of America Corp DE raised its stake in shares of Galaxy Digital by 112.4% during the 2nd quarter. Bank of America Corp DE now owns 1,145,172 shares of the company's stock worth $31,309,000 after purchasing an additional 605,986 shares in the last quarter. Finally, Squarepoint Ops LLC raised its stake in shares of Galaxy Digital by 67.5% during the 2nd quarter. Squarepoint Ops LLC now owns 144,335 shares of the company's stock worth $3,946,000 after purchasing an additional 58,161 shares in the last quarter.
Analyst Ratings Changes
Several research analysts have recently weighed in on the company. Chardan Capital reaffirmed a "buy" rating and set a $35.00 price objective on shares of Galaxy Digital in a research report on Tuesday, October 27th. Morgan Stanley cut their target price on Galaxy Digital from $43.00 to $27.00 and set an "overweight" rating on the stock in a research note on Monday. Rosenblatt Securities reduced their price target on Galaxy Digital from $35.00 to $30.00 and set a "buy" rating for the company in a research report on Monday, October 26th. Citigroup raised Galaxy Digital from a "neutral" rating to a "buy" rating and upped their price target for the stock from $26.00 to $28.00 in a research report on Tuesday, October 13th. Finally, Weiss Ratings raised shares of Galaxy Digital from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Galaxy Digital has an average rating of "Moderate Buy" and an average target price of $33.96.
Check Out Our Latest Stock Analysis on GLXY
About Galaxy Digital
(
Get Free Report)
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.
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