Insider Buying: Galaxy Digital (NASDAQ:GLXY) Director Buys $100,113.00 in Stock

Key Points

• Galaxy Digital Director Steven John Bandrowczak purchased 5,100 shares at an average price of $19.63, investing $100,113 and increasing his ownership by 14.96% to 39,186 shares.
• GLXY shares traded at $19.52, well below their 50-day and 200-day moving averages, with a 12-month range of $16.43 to $45.92 and a market capitalization of $7.61 billion.
• The company beat quarterly earnings expectations, reporting a loss of $0.09 per share versus the expected $0.36 loss. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $38.83.

Galaxy Digital Inc. (NASDAQ:GLXY - Get Free Report) Director Steven John Bandrowczak bought 5,100 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were purchased at an average cost of $19.63 per share, for a total transaction of $100,113.00. Following the completion of the acquisition, the director owned 39,186 shares of the company's stock, valued at $769,221.18. This trade represents a 14.96% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Galaxy Digital Price Performance

Galaxy Digital stock traded down $0.65 during midday trading on Monday, hitting $19.52. The company's stock had a trading volume of 5,224,169 shares, compared to its average volume of 6,505,609. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.94. The stock's 50-day moving average price is $26.41 and its 200-day moving average price is $25.11. Galaxy Digital Inc. has a 12 month low of $16.43 and a 12 month high of $45.92. The company has a market capitalization of $7.61 billion, a PE ratio of -30.03 and a beta of 5.06.

Galaxy Digital (NASDAQ:GLXY - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $8.71 billion during the quarter. Galaxy Digital had a negative net margin of 0.75% and a negative return on equity of 6.10%. During the same quarter last year, the business posted $0.08 EPS. Analysts anticipate that Galaxy Digital Inc. will post -0.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

GLXY has been the subject of a number of research reports. Wall Street Zen upgraded shares of Galaxy Digital from a "strong sell" rating to a "sell" rating in a report on Saturday, May 2nd. Rosenblatt Securities dropped their price target on Galaxy Digital from $39.00 to $35.00 and set a "buy" rating on the stock in a report on Monday, August 3rd. Canaccord Genuity Group reiterated a "buy" rating and set a $50.00 price objective on shares of Galaxy Digital in a research report on Friday, April 24th. Cantor Fitzgerald reissued an "overweight" rating and set a $30.00 price objective on shares of Galaxy Digital in a research note on Friday, May 1st. Finally, Chardan Capital restated a "buy" rating and issued a $35.00 target price on shares of Galaxy Digital in a report on Wednesday, August 5th. Ten equities research 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. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $38.83.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. purchased a new stake in shares of Galaxy Digital in the 2nd quarter valued at approximately $80,000. Invesco Ltd. purchased a new position in Galaxy Digital during the 2nd quarter worth approximately $53,233,000. EverSource Wealth Advisors LLC acquired a new stake in Galaxy Digital during the 2nd quarter valued at $116,000. First Trust Advisors LP acquired a new stake in Galaxy Digital during the 2nd quarter valued at $13,376,000. Finally, Cerity Partners LLC purchased a new stake in shares of Galaxy Digital in the second quarter valued at $219,000.

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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