Galaxy Digital Inc. $GLXY Stock Holdings Lifted by Rovida Investment Management Ltd

Key Points

• Rovida Investment Management Ltd raised its stake in Galaxy Digital by 21.2% in Q3 to 1,861,200 shares (about $62.9M), making GLXY its sixth-largest holding and ~7.1% of Rovida’s portfolio.
• Analyst sentiment is mixed-but-positive with a consensus rating of “Moderate Buy” and an average price target of $42.54; several firms maintain buy ratings with targets as high as $46–$50 while others have trimmed targets (Cantor to $48).
• Insider director Douglas R. Deason purchased 25,000 shares at $20.80, and Galaxy’s recent quarter showed EPS of ($1.08) beating estimates but revenue of $10.37B missed expectations.

Rovida Investment Management Ltd increased its holdings in Galaxy Digital Inc. (NASDAQ:GLXY - Free Report) by 21.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,861,200 shares of the company's stock after buying an additional 325,000 shares during the period. Galaxy Digital comprises approximately 7.1% of Rovida Investment Management Ltd's investment portfolio, making the stock its 6th biggest holding. Rovida Investment Management Ltd owned about 0.49% of Galaxy Digital worth $62,890,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of GLXY. CWM LLC purchased a new stake in shares of Galaxy Digital during the 2nd quarter valued at $26,000. Manchester Capital Management LLC acquired a new position in shares of Galaxy Digital in the second quarter valued at about $32,000. North Star Investment Management Corp. purchased a new position in shares of Galaxy Digital in the third quarter worth about $34,000. ORG Partners LLC lifted its holdings in shares of Galaxy Digital by 1,110.0% during the third quarter. ORG Partners LLC now owns 968 shares of the company's stock worth $36,000 after purchasing an additional 888 shares during the period. Finally, TD Waterhouse Canada Inc. acquired a new stake in shares of Galaxy Digital during the second quarter worth about $37,000.

Analyst Ratings Changes

GLXY has been the topic of several research reports. Rosenblatt Securities reiterated a "buy" rating and issued a $46.00 price target on shares of Galaxy Digital in a report on Friday, January 30th. Wall Street Zen downgraded shares of Galaxy Digital from a "hold" rating to a "sell" rating in a report on Saturday, February 28th. BTIG Research reiterated a "buy" rating and issued a $50.00 price objective on shares of Galaxy Digital in a research note on Tuesday, February 3rd. Cantor Fitzgerald reduced their target price on shares of Galaxy Digital from $53.00 to $48.00 and set an "overweight" rating for the company in a report on Monday, February 2nd. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Galaxy Digital in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Galaxy Digital currently has a consensus rating of "Moderate Buy" and an average target price of $42.54.

Galaxy Digital Price Performance

Shares of NASDAQ GLXY opened at $22.73 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.60 and a quick ratio of 1.60. The stock has a market capitalization of $8.88 billion and a price-to-earnings ratio of 189.42. The firm's 50 day simple moving average is $24.88 and its 200-day simple moving average is $28.33. Galaxy Digital Inc. has a 12 month low of $8.20 and a 12 month high of $45.92.

Galaxy Digital (NASDAQ:GLXY - Get Free Report) last announced its quarterly earnings results on Tuesday, February 3rd. The company reported ($1.08) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.24) by $0.16. The firm had revenue of $10.37 billion for the quarter, compared to analysts' expectations of $13.08 billion.

Insider Activity

In other news, Director Douglas R. Deason bought 25,000 shares of the stock in a transaction dated Wednesday, February 4th. The shares were acquired at an average cost of $20.80 per share, with a total value of $520,000.00. Following the purchase, the director directly owned 59,000 shares in the company, valued at $1,227,200. The trade was a 73.53% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

About Galaxy Digital

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.

Want to see what other hedge funds are holding GLXY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Galaxy Digital Inc. (NASDAQ:GLXY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.