AWM Investment Company Inc. Takes Position in Galaxy Digital Inc. $GLXY

Key Points

• AWM Investment Company acquired 447,000 Galaxy Digital shares worth approximately $12.2 million, making GLXY 1.1% of its portfolio and its 29th-largest holding.
• Galaxy Digital shares were trading at $24.79, up 8.5%, while the company reported a quarterly loss of $0.09 per share—better than the expected $0.36 loss—on $8.71 billion in revenue.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $38.67; insiders also recently purchased shares, and company insiders own 51.53% of the stock.

AWM Investment Company Inc. acquired a new stake in shares of Galaxy Digital Inc. (NASDAQ:GLXY - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 447,000 shares of the company's stock, valued at approximately $12,221,000. Galaxy Digital makes up 1.1% of AWM Investment Company Inc.'s portfolio, making the stock its 29th largest position. AWM Investment Company Inc. owned about 0.11% of Galaxy Digital as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Ninepoint Partners LP purchased a new stake in shares of Galaxy Digital in the second quarter valued at about $802,000. Doliver Advisors LP bought a new position in shares of Galaxy Digital during the 2nd quarter worth approximately $208,000. Hennion & Walsh Asset Management Inc. bought a new position in shares of Galaxy Digital during the 2nd quarter worth approximately $440,000. Western Wealth Management LLC bought a new position in shares of Galaxy Digital during the 1st quarter worth approximately $126,000. Finally, Bank of America Corp DE boosted its stake in shares of Galaxy Digital by 124.3% in the 1st quarter. Bank of America Corp DE now owns 539,186 shares of the company's stock worth $9,948,000 after buying an additional 298,781 shares during the last quarter.

Galaxy Digital Trading Up 8.5%

NASDAQ:GLXY opened at $24.79 on Wednesday. The company has a market cap of $9.69 billion, a P/E ratio of -38.14 and a beta of 5.06. The stock's fifty day moving average price is $24.29 and its two-hundred day moving average price is $24.49. Galaxy Digital Inc. has a 1 year low of $16.43 and a 1 year high of $45.92. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.50 and a quick ratio of 1.50.

Galaxy Digital (NASDAQ:GLXY - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $8.71 billion for the quarter. During the same period last year, the company posted $0.08 EPS. As a group, analysts expect that Galaxy Digital Inc. will post -0.82 EPS for the current year.

Insiders Place Their Bets

In other Galaxy Digital news, Director Steven John Bandrowczak acquired 5,100 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were bought at an average price of $19.63 per share, for a total transaction of $100,113.00. Following the completion of the transaction, the director owned 39,186 shares of the company's stock, 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 hyperlink. Also, Director Douglas R. Deason purchased 12,000 shares of the stock in a transaction on Wednesday, August 12th. The stock was acquired at an average cost of $21.54 per share, for a total transaction of $258,480.00. Following the acquisition, the director owned 71,000 shares in the company, valued at approximately $1,529,340. This represents a 20.34% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 51.53% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Citigroup decreased their price target on Galaxy Digital from $28.00 to $26.00 and set a "neutral" rating for the company in a research report on Wednesday, August 19th. Wall Street Zen raised Galaxy Digital from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 2nd. Rosenblatt Securities reduced their price objective on Galaxy Digital from $39.00 to $35.00 and set a "buy" rating for the company in a research note on Monday, August 3rd. Morgan Stanley reaffirmed an "overweight" rating and set a $37.00 target price on shares of Galaxy Digital in a research report on Wednesday, April 29th. Finally, Chardan Capital reiterated a "buy" rating and set a $35.00 target price on shares of Galaxy Digital in a research note on Wednesday, August 5th. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $38.67.

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.

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