Public Employees Retirement System of Ohio Makes New Investment in Galaxy Digital Inc. $GLXY

Public Employees Retirement System of Ohio acquired a new stake in Galaxy Digital Inc. (NASDAQ:GLXY - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 53,268 shares of the company's stock, valued at approximately $1,456,000.

Other large investors have also modified their holdings of the company. Capital Research Global Investors purchased a new position in shares of Galaxy Digital during the fourth quarter worth approximately $406,102,000. Invesco Ltd. purchased a new stake in Galaxy Digital in the 2nd quarter valued at $53,233,000. Tidal Investments LLC purchased a new stake in Galaxy Digital in the 2nd quarter valued at $48,452,000. Norges Bank acquired a new stake in Galaxy Digital during the 4th quarter worth $32,045,000. Finally, Jane Street Group LLC acquired a new stake in Galaxy Digital during the 2nd quarter worth $29,114,000.

Insider Buying and Selling at Galaxy Digital

In related news, Director Steven Bandrowczak purchased 5,100 shares of the business's stock in a transaction dated Monday, August 10th. The stock was acquired at an average price of $19.63 per share, for a total transaction of $100,113.00. Following the acquisition, the director directly owned 39,186 shares of the company's stock, valued at $769,221.18. This trade represents a 14.96% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Douglas R. Deason acquired 12,000 shares of Galaxy Digital stock in a transaction that occurred on Wednesday, August 12th. The stock was bought at an average price of $21.54 per share, with a total value of $258,480.00. Following the purchase, the director directly owned 71,000 shares of the company's stock, valued at approximately $1,529,340. This trade represents a 20.34% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 51.53% of the stock is currently owned by insiders.

Galaxy Digital Price Performance

Galaxy Digital stock opened at $26.33 on Tuesday. 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 Inc. has a 1-year low of $16.43 and a 1-year high of $45.92. The company has a market cap of $10.29 billion, a PE ratio of -40.51 and a beta of 5.10. The stock's 50 day moving average price is $23.16 and its 200 day moving average price is $24.77.

Galaxy Digital (NASDAQ:GLXY - Get Free Report) last released 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. 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 during the quarter. During the same quarter in the previous year, the company posted $0.08 EPS. On average, sell-side analysts predict that Galaxy Digital Inc. will post -0.79 EPS for the current fiscal year.

Analysts Set New Price Targets

GLXY has been the topic of a number of recent research reports. Weiss Ratings restated a "sell (d-)" rating on shares of Galaxy Digital in a research note on Friday, August 21st. 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. Zacks Research lowered Galaxy Digital from a "hold" rating to a "strong sell" rating in a report on Monday, July 20th. Piper Sandler lowered their price target on Galaxy Digital from $36.00 to $33.00 and set an "overweight" rating on the stock in a report on Friday, July 17th. Finally, BTIG Research dropped their price target on Galaxy Digital from $50.00 to $45.00 and set a "buy" rating on the stock in a research report 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 issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $39.58.

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.

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.