Galaxy Digital Inc. $GLXY Stock Position Lowered by Capelight Capital Asset Management LP

Key Points

• Capelight Capital Asset Management cut its Galaxy Digital stake by 43.5% in the third quarter, selling 100,000 shares and retaining 130,000 shares valued at approximately $2.96 million.
• Analyst sentiment remains generally positive: 11 analysts rate GLXY a Buy, two rate it Hold and one rates it Sell, producing a consensus rating of Moderate Buy and an average price target of $36.92.
• Galaxy Digital opened at $14.68, near its 52-week low of $14.57, while reporting a quarterly loss of $0.09 per share—better than the expected $0.36 loss—and revenue of $8.71 billion.

Capelight Capital Asset Management LP reduced its position in Galaxy Digital Inc. (NASDAQ:GLXY - Free Report) by 43.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 130,000 shares of the company's stock after selling 100,000 shares during the period. Galaxy Digital comprises approximately 1.2% of Capelight Capital Asset Management LP's holdings, making the stock its 29th largest position. Capelight Capital Asset Management LP's holdings in Galaxy Digital were worth $2,956,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in GLXY. Inspire Investing LLC raised its stake in Galaxy Digital by 58.9% during the 3rd quarter. Inspire Investing LLC now owns 23,374 shares of the company's stock valued at $532,000 after purchasing an additional 8,665 shares during the period. Reyes Financial Architecture Inc. purchased a new stake in shares of Galaxy Digital in the third quarter valued at $30,000. Blue Jean Financial LLC boosted its position in shares of Galaxy Digital by 6.8% in the third quarter. Blue Jean Financial LLC now owns 148,911 shares of the company's stock worth $3,386,000 after buying an additional 9,440 shares during the period. Clark Financial Services Group Inc. BD boosted its position in shares of Galaxy Digital by 10.4% in the third quarter. Clark Financial Services Group Inc. BD now owns 18,250 shares of the company's stock worth $415,000 after buying an additional 1,717 shares during the period. Finally, Vontobel Holding Ltd. boosted its position in shares of Galaxy Digital by 13.9% in the third quarter. Vontobel Holding Ltd. now owns 46,143 shares of the company's stock worth $1,049,000 after buying an additional 5,637 shares during the period.

Analyst Ratings Changes

GLXY has been the topic of a number of research analyst reports. Chardan Capital reiterated a "buy" rating and set a $35.00 price target on shares of Galaxy Digital in a report on Wednesday, August 5th. Maxim Group reduced their price objective on Galaxy Digital from $46.00 to $36.00 and set a "buy" rating for the company in a research note on Thursday. Citigroup upgraded Galaxy Digital from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $26.00 to $28.00 in a research report on Tuesday, October 13th. BTIG Research lowered their target price on Galaxy Digital from $50.00 to $45.00 and set a "buy" rating on the stock in a research note on Wednesday, August 5th. Finally, Rosenblatt Securities dropped their target price on Galaxy Digital from $39.00 to $35.00 and set a "buy" rating on the stock in a report on Monday, August 3rd. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.92.

Galaxy Digital Stock Performance

NASDAQ GLXY opened at $14.68 on Monday. Galaxy Digital Inc. has a 1-year low of $14.57 and a 1-year high of $41.47. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $5.74 billion, a PE ratio of -22.58 and a beta of 5.11. The firm's fifty day simple moving average is $22.40 and its 200-day simple moving average is $24.97.

Galaxy Digital (NASDAQ:GLXY - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.27. The business had revenue of $8.71 billion during the quarter. Galaxy Digital had a negative return on equity of 6.25% and a negative net margin of 0.75%. During the same quarter in the prior year, the business posted $0.08 earnings per share. As a group, sell-side analysts anticipate that Galaxy Digital Inc. will post -0.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Douglas R. Deason purchased 12,000 shares of Galaxy Digital stock in a transaction dated 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 directly owned 71,000 shares in the company, valued at $1,529,340. This represents a 20.34% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Steven Bandrowczak purchased 5,100 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was purchased at an average cost of $19.63 per share, with a total value of $100,113.00. Following the purchase, the director owned 39,186 shares in the company, valued at $769,221.18. This represents a 14.96% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 51.53% of the company's stock.

Galaxy Digital Company Profile

Galaxy Digital is a financial services and investment management company focused on digital assets and blockchain technology. Founded in 2018 by Michael Novogratz, the company provides institutional investors, corporations and other market participants with services spanning trading, asset management, investment banking, principal investments and venture capital.

Its offerings include spot and derivatives trading, lending and structured products, digital-asset funds and separately managed accounts, as well as advisory services for mergers, acquisitions, capital raising and other strategic transactions.

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