40,081 Shares in Galaxy Digital Inc. $GLXY Acquired by Encompass More Asset Management

Key Points

• Encompass More Asset Management acquired 40,081 shares of Galaxy Digital (NASDAQ:GLXY) in Q4, valued at about $896,000, joining other institutional buyers including Invesco (~$53.2M) and First Trust (~$13.4M).
• Analysts hold a Moderate Buy consensus on GLXY with an average target of $39.50 (1 Strong Buy, 12 Buy, 2 Hold, 1 Sell), while price targets cited range from Goldman Sachs' $21 to BTIG's $50.
• Galaxy Digital beat Q results with EPS of -$0.49 vs. -$0.59 expected and $7.35B in revenue; the stock trades near $31.12, has a $12.11B market cap, and a negative P/E of -64.83.

Encompass More Asset Management acquired a new position in Galaxy Digital Inc. (NASDAQ:GLXY - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 40,081 shares of the company's stock, valued at approximately $896,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GLXY. JPMorgan Chase & Co. bought a new position in Galaxy Digital in the 2nd quarter worth approximately $80,000. Invesco Ltd. bought a new position in Galaxy Digital in the 2nd quarter worth approximately $53,233,000. EverSource Wealth Advisors LLC bought a new position in Galaxy Digital in the 2nd quarter worth approximately $116,000. First Trust Advisors LP bought a new position in Galaxy Digital in the 2nd quarter worth approximately $13,376,000. Finally, Cerity Partners LLC bought a new position in Galaxy Digital in the 2nd quarter worth approximately $219,000.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GLXY. BTIG Research reissued a "buy" rating and issued a $50.00 price objective on shares of Galaxy Digital in a report on Tuesday, April 28th. Rosenblatt Securities reissued a "buy" rating and issued a $39.00 price objective on shares of Galaxy Digital in a report on Thursday, April 23rd. Chardan Capital reissued a "buy" rating and issued a $35.00 price objective on shares of Galaxy Digital in a report on Monday. The Goldman Sachs Group decreased their price target on Galaxy Digital from $24.00 to $21.00 and set a "neutral" rating for the company in a research note on Wednesday, April 8th. Finally, Weiss Ratings lowered Galaxy Digital from a "hold (c)" rating to a "sell (d+)" rating in a research note on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $39.50.

Galaxy Digital Stock Performance

Shares of NASDAQ GLXY opened at $31.12 on Thursday. The stock has a fifty day moving average price of $22.41 and a two-hundred day moving average price of $25.75. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.60 and a current ratio of 1.60. The firm has a market cap of $12.11 billion and a P/E ratio of -64.83. Galaxy Digital Inc. has a 1 year low of $16.43 and a 1 year high of $45.92.

Galaxy Digital (NASDAQ:GLXY - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.59) by $0.10. The firm had revenue of $7.35 billion during the quarter. Galaxy Digital had a negative return on equity of 2.27% and a negative net margin of 0.54%.During the same period in the previous year, the business posted ($0.86) earnings per share. Research analysts forecast that Galaxy Digital Inc. will post -0.32 EPS for the current fiscal year.

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.

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