UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 64,343 Shares of Galaxy Digital Inc. $GLXY

Key Points

• UBS Asset Management increased its Galaxy Digital stake by 20.2%, purchasing 64,343 shares to reach 383,406 shares valued at approximately $10.5 million.
• Institutional interest was broadly positive, with several firms—including Bank of America, AWM Investment Company and California Public Employees Retirement System—adding or initiating positions.
• Analysts maintain a “Moderate Buy” consensus with a $39.58 average price target, despite mixed ratings and recent target reductions. Galaxy Digital reported a smaller-than-expected quarterly loss of $0.09 per share and $8.71 billion in revenue.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Galaxy Digital Inc. (NASDAQ:GLXY - Free Report) by 20.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 383,406 shares of the company's stock after purchasing an additional 64,343 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.10% of Galaxy Digital worth $10,482,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Riposte Capital LLC purchased a new stake in shares of Galaxy Digital during the 1st quarter valued at about $2,952,000. Bank of America Corp DE grew its position in shares of Galaxy Digital by 124.3% during the 1st quarter. Bank of America Corp DE now owns 539,186 shares of the company's stock valued at $9,948,000 after acquiring an additional 298,781 shares during the period. Hillsdale Investment Management Inc. purchased a new stake in Galaxy Digital in the fourth quarter worth about $6,984,000. California Public Employees Retirement System purchased a new stake in Galaxy Digital in the 1st quarter worth approximately $5,446,000. Finally, AWM Investment Company Inc. purchased a new stake in shares of Galaxy Digital in the second quarter worth $12,221,000.

Wall Street Analysts Forecast Growth

GLXY has been the subject of several research analyst reports. Chardan Capital reiterated a "buy" rating and set a $35.00 target price on shares of Galaxy Digital in a research report on Wednesday, August 5th. BTIG Research dropped their price objective on shares of Galaxy Digital from $50.00 to $45.00 and set a "buy" rating for the company in a research note on Wednesday, August 5th. Weiss Ratings reissued a "sell (d-)" rating on shares of Galaxy Digital in a research report on Friday, August 21st. Rosenblatt Securities cut their price target on shares of Galaxy Digital from $39.00 to $35.00 and set a "buy" rating on the stock in a report on Monday, August 3rd. Finally, Citigroup cut their price objective on Galaxy Digital from $28.00 to $26.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 19th. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $39.58.

Galaxy Digital Stock Performance

Shares of Galaxy Digital stock opened at $26.33 on Monday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.50 and a current ratio of 1.50. The company has a market capitalization of $10.29 billion, a PE ratio of -40.51 and a beta of 5.10. The company has a 50-day simple moving average of $23.21 and a two-hundred day simple moving average of $24.73. Galaxy Digital Inc. has a one year low of $16.43 and a one year high of $45.92.

Galaxy Digital (NASDAQ:GLXY - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.27. Galaxy Digital had a negative net margin of 0.75% and a negative return on equity of 6.25%. The company had revenue of $8.71 billion during the quarter. During the same quarter last year, the business earned $0.08 earnings per share. Research analysts expect that Galaxy Digital Inc. will post -0.79 EPS for the current fiscal year.

Insider Activity at Galaxy Digital

In other news, Director Douglas R. Deason purchased 12,000 shares of the stock in a transaction 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 transaction, the director owned 71,000 shares in the company, valued at $1,529,340. The trade was a 20.34% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven Bandrowczak bought 5,100 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The shares were purchased at an average cost of $19.63 per share, with a total value of $100,113.00. Following the acquisition, the director directly owned 39,186 shares of the company's stock, valued at approximately $769,221.18. This trade represents a 14.96% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 51.53% of the company's stock.

Galaxy Digital Company 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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