44,887 Shares in Galaxy Digital Inc. $GLXY Purchased by Engineers Gate Manager LP

Engineers Gate Manager LP purchased a new stake in shares of Galaxy Digital Inc. (NASDAQ:GLXY - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 44,887 shares of the company's stock, valued at approximately $1,227,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Research Global Investors bought a new stake in shares of Galaxy Digital during the 4th quarter worth $406,102,000. Norges Bank acquired a new stake in Galaxy Digital during the 4th quarter worth about $32,045,000. Fred Alger Management LLC lifted its stake in Galaxy Digital by 572.1% during the fourth quarter. Fred Alger Management LLC now owns 1,165,251 shares of the company's stock valued at $26,055,000 after buying an additional 991,867 shares in the last quarter. Moore Capital Management LP boosted its holdings in shares of Galaxy Digital by 52.9% in the second quarter. Moore Capital Management LP now owns 2,082,250 shares of the company's stock worth $56,929,000 after buying an additional 720,000 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of Galaxy Digital by 112.4% in the second quarter. Bank of America Corp DE now owns 1,145,172 shares of the company's stock worth $31,309,000 after buying an additional 605,986 shares during the period.

Analysts Set New Price Targets

Several equities analysts have weighed in on GLXY shares. Rosenblatt Securities lowered their price objective on shares of Galaxy Digital from $39.00 to $35.00 and set a "buy" rating on the stock in a research report on Monday, August 3rd. Morgan Stanley increased their target price on Galaxy Digital from $37.00 to $48.00 and gave the company an "overweight" rating in a report on Thursday, September 3rd. Chardan Capital reaffirmed a "buy" rating and issued a $35.00 target price on shares of Galaxy Digital in a research report on Wednesday, August 5th. Zacks Research downgraded Galaxy Digital from a "hold" rating to a "strong sell" rating in a report on Monday, July 20th. Finally, Piper Sandler reduced their price objective on Galaxy Digital from $36.00 to $33.00 and set an "overweight" rating for the company in a research note on Friday, July 17th. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $39.58.

Galaxy Digital Stock Performance

GLXY opened at $22.28 on Friday. The firm has a market capitalization of $8.71 billion, a P/E ratio of -34.28 and a beta of 5.10. The stock's 50 day moving average price is $22.95 and its two-hundred day moving average price is $24.91. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.04. Galaxy Digital Inc. has a 12-month low of $16.43 and a 12-month high of $45.92.

Galaxy Digital (NASDAQ:GLXY - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.27. Galaxy Digital had a negative return on equity of 6.25% and a negative net margin of 0.75%.The firm had revenue of $8.71 billion for the quarter. During the same quarter in the prior year, the firm earned $0.08 earnings per share. On average, equities analysts forecast that Galaxy Digital Inc. will post -0.79 earnings per share for the current year.

Insider Activity at Galaxy Digital

In related news, Director Steven Bandrowczak bought 5,100 shares of the company's stock in a transaction dated Monday, August 10th. The stock was acquired at an average cost of $19.63 per share, with a total value of $100,113.00. Following the acquisition, the director owned 39,186 shares in the company, valued at approximately $769,221.18. This represents a 14.96% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Matthew W. Friedrich sold 4,993 shares of the business's stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $27.03, for a total transaction of $134,960.79. Following the completion of the sale, the insider owned 275,782 shares in the company, valued at $7,454,387.46. This represents a 1.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 51.53% of the stock is currently owned by corporate insiders.

Galaxy Digital 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.

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