Ghisallo Capital Management LLC Sells 1,250,000 Shares of Galaxy Digital Inc. $GLXY

Key Points

• Ghisallo Capital sold 1,250,000 shares of Galaxy Digital in Q3, cutting its stake by 71.4% to 500,000 shares (about 0.13% of the company) worth $16.905 million.
• Director Douglas R. Deason bought 25,000 shares at $20.80 on Feb 4, increasing his holdings to 59,000 shares (a 73.53% rise), signaling insider accumulation amid the institutional sell-off.
• Analyst sentiment is mixed but overall a “Moderate Buy” consensus with a $42.54 price target; the company reported Q EPS of ($1.08) which beat estimates while revenue of $10.37 billion missed expectations.

Ghisallo Capital Management LLC cut its holdings in Galaxy Digital Inc. (NASDAQ:GLXY - Free Report) by 71.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 500,000 shares of the company's stock after selling 1,250,000 shares during the quarter. Ghisallo Capital Management LLC owned 0.13% of Galaxy Digital worth $16,905,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. CWM LLC grew its stake in shares of Galaxy Digital by 20.8% in the 3rd quarter. CWM LLC now owns 1,419 shares of the company's stock worth $48,000 after buying an additional 244 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Galaxy Digital by 2.1% during the 3rd quarter. Victory Capital Management Inc. now owns 19,596 shares of the company's stock valued at $663,000 after buying an additional 411 shares in the last quarter. Belpointe Asset Management LLC raised its position in shares of Galaxy Digital by 6.8% during the 3rd quarter. Belpointe Asset Management LLC now owns 13,641 shares of the company's stock valued at $461,000 after buying an additional 867 shares in the last quarter. ORG Partners LLC lifted its holdings in shares of Galaxy Digital by 1,110.0% in the 3rd quarter. ORG Partners LLC now owns 968 shares of the company's stock valued at $36,000 after acquiring an additional 888 shares during the last quarter. Finally, North Star Investment Management Corp. purchased a new position in Galaxy Digital in the third quarter worth about $34,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on GLXY shares. Wall Street Zen downgraded Galaxy Digital from a "hold" rating to a "sell" rating in a research report on Saturday, February 28th. Citigroup assumed coverage on Galaxy Digital in a report on Wednesday, February 25th. They issued a "neutral" rating and a $25.00 target price for the company. HC Wainwright cut their target price on Galaxy Digital from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday, February 4th. Rosenblatt Securities restated a "buy" rating and set a $46.00 price target on shares of Galaxy Digital in a report on Friday, January 30th. Finally, Morgan Stanley lowered their price target on Galaxy Digital from $43.00 to $36.00 and set an "overweight" rating for the company in a research report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $42.54.

Insider Buying and Selling at Galaxy Digital

In related news, Director Douglas R. Deason purchased 25,000 shares of the firm's stock in a transaction dated Wednesday, February 4th. The stock was purchased at an average price of $20.80 per share, with a total value of $520,000.00. Following the completion of the purchase, the director owned 59,000 shares of the company's stock, valued at approximately $1,227,200. The trade was a 73.53% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Galaxy Digital Trading Up 8.3%

GLXY stock opened at $22.35 on Friday. Galaxy Digital Inc. has a 12 month low of $8.20 and a 12 month high of $45.92. The firm's 50-day moving average is $24.67 and its 200 day moving average is $28.19. The company has a market capitalization of $8.73 billion and a PE ratio of 186.25. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.60 and a quick ratio of 1.60.

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

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.

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