Galaxy Digital (NASDAQ:GLXY) Director Douglas Deason Acquires 12,000 Shares of Stock

Key Points

• Director Douglas Deason purchased 12,000 Galaxy Digital shares at an average price of $21.54, investing $258,480 and increasing his holdings by 20.34% to 71,000 shares.
• Galaxy Digital shares opened at $20.95, well below their 52-week high of $45.92. The company reported a quarterly loss of $0.09 per share, but beat analysts’ estimate of a $0.36 loss on $8.71 billion in revenue.
• Analyst sentiment remains mixed but leans positive: ten analysts rate the stock Buy, while two rate it Hold and two Sell. The stock carries a “Moderate Buy” consensus rating and an average price target of $38.83.

Galaxy Digital Inc. (NASDAQ:GLXY - Get Free Report) Director Douglas Deason bought 12,000 shares of the firm's stock in a transaction on Wednesday, August 12th. The shares were purchased at an average price of $21.54 per share, for a total transaction of $258,480.00. Following the completion of the transaction, the director owned 71,000 shares of the company's stock, valued at $1,529,340. This represents a 20.34% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Galaxy Digital Stock Down 0.6%

Galaxy Digital stock opened at $20.95 on Friday. Galaxy Digital Inc. has a fifty-two week low of $16.43 and a fifty-two week high of $45.92. The firm has a market capitalization of $8.17 billion, a price-to-earnings ratio of -32.23 and a beta of 5.06. The stock's fifty day moving average is $25.71 and its two-hundred day moving average is $24.79. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.70 and a current ratio of 1.70.

Galaxy Digital (NASDAQ:GLXY - Get Free Report) last released its quarterly earnings results 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 6.10% and a negative net margin of 0.75%.During the same period last year, the firm earned $0.08 EPS. Analysts predict that Galaxy Digital Inc. will post -0.82 EPS for the current fiscal year.

Hedge Funds Weigh In On Galaxy Digital

Large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Galaxy Digital by 27.5% during the fourth quarter. Vanguard Group Inc. now owns 20,669,893 shares of the company's stock worth $462,310,000 after purchasing an additional 4,463,782 shares in the last quarter. Pictet Asset Management Holding SA raised its stake in shares of Galaxy Digital by 184.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 80,708 shares of the company's stock valued at $1,808,000 after purchasing an additional 52,334 shares during the period. Encompass More Asset Management acquired a new position in shares of Galaxy Digital during the fourth quarter worth $896,000. Riposte Capital LLC purchased a new position in shares of Galaxy Digital in the first quarter valued at $2,952,000. Finally, Hillsdale Investment Management Inc. bought a new stake in Galaxy Digital in the fourth quarter valued at $6,984,000.

Analyst Ratings Changes

Several analysts have recently commented on the stock. 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. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $50.00 target price on shares of Galaxy Digital in a research note on Friday, April 24th. Zacks Research cut Galaxy Digital from a "hold" rating to a "strong sell" rating in a report on Monday, July 20th. Weiss Ratings cut Galaxy Digital from a "sell (d+)" rating to a "sell (d-)" rating in a report on Tuesday, May 26th. Finally, Citizens Jmp reaffirmed a "market outperform" rating and set a $55.00 price objective on shares of Galaxy Digital in a research note on Wednesday, April 29th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $38.83.

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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