Riposte Capital LLC Takes Position in Galaxy Digital Inc. $GLXY

Key Points

• Riposte Capital purchased 160,000 Galaxy Digital shares worth approximately $2.95 million, making GLXY its 19th-largest holding and representing 0.8% of its portfolio. Several other institutional investors also increased or initiated positions.
• Galaxy Digital shares opened at $20.94, down 7.8%, and remain highly volatile, with a beta of 4.84 and a 12-month range of $16.43 to $45.92. The company reported a quarterly loss of $0.49 per share, though this beat analyst expectations.
• Analyst sentiment remains moderately positive, with 11 Buy, two Hold, and two Sell ratings and a consensus price target of $39.62. However, director Michael D. Daffey sold 250,000 shares for about $7.19 million, reducing his stake by 14.24%.

Riposte Capital LLC purchased a new position in shares of Galaxy Digital Inc. (NASDAQ:GLXY - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 160,000 shares of the company's stock, valued at approximately $2,952,000. Galaxy Digital makes up 0.8% of Riposte Capital LLC's portfolio, making the stock its 19th biggest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd grew its holdings in shares of Galaxy Digital by 183.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,434 shares of the company's stock worth $32,000 after purchasing an additional 928 shares during the last quarter. Picton Mahoney Asset Management lifted its holdings in shares of Galaxy Digital by 200.0% in the 4th quarter. Picton Mahoney Asset Management now owns 1,500 shares of the company's stock valued at $34,000 after purchasing an additional 1,000 shares during the last quarter. Danske Bank A S acquired a new stake in shares of Galaxy Digital in the 4th quarter valued at about $36,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Galaxy Digital in the 4th quarter valued at about $46,000. Finally, Hollencrest Capital Management grew its stake in Galaxy Digital by 204.0% during the 1st quarter. Hollencrest Capital Management now owns 2,584 shares of the company's stock worth $48,000 after buying an additional 1,734 shares during the last quarter.

Insiders Place Their Bets

In related news, Director Michael D. Daffey sold 250,000 shares of Galaxy Digital stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $28.77, for a total value of $7,192,500.00. Following the transaction, the director directly owned 1,505,419 shares in the company, valued at $43,310,904.63. This trade represents a 14.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 51.53% of the stock is currently owned by company insiders.

Galaxy Digital Stock Down 7.8%

Galaxy Digital stock opened at $20.94 on Wednesday. Galaxy Digital Inc. has a twelve month low of $16.43 and a twelve month high of $45.92. The stock has a 50 day moving average of $27.82 and a two-hundred day moving average of $25.59. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $8.16 billion, a price-to-earnings ratio of -43.62 and a beta of 4.84.

Galaxy Digital (NASDAQ:GLXY - Get Free Report) last released its earnings results on Tuesday, April 28th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.59) by $0.10. Galaxy Digital had a negative return on equity of 2.30% and a negative net margin of 0.54%.The business had revenue of $10.21 billion for the quarter. During the same period in the previous year, the firm posted ($0.86) EPS. As a group, research analysts expect that Galaxy Digital Inc. will post -0.5 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on GLXY shares. Piper Sandler cut their price target on Galaxy Digital from $36.00 to $33.00 and set an "overweight" rating on the stock in a research report on Friday, July 17th. Cantor Fitzgerald restated an "overweight" rating and set a $30.00 target price on shares of Galaxy Digital in a research report on Friday, May 1st. Rosenblatt Securities restated a "buy" rating and set a $39.00 target price on shares of Galaxy Digital in a research report on Thursday, April 23rd. Wall Street Zen upgraded shares of Galaxy Digital from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 2nd. Finally, Chardan Capital reiterated a "buy" rating and set a $35.00 price target on shares of Galaxy Digital in a research note on Monday, May 4th. Eleven 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 a consensus target price of $39.62.

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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