Encompass More Asset Management Takes $896,000 Position in Galaxy Digital Inc. $GLXY

Encompass More Asset Management acquired a new stake in shares of Galaxy Digital Inc. (NASDAQ:GLXY) in the fourth quarter, Holdings Channel.com reports. The fund acquired 40,081 shares of the company’s stock, valued at approximately $896,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. CWM LLC lifted its position in shares of Galaxy Digital by 20.8% during the 3rd quarter. CWM LLC now owns 1,419 shares of the company’s stock valued at $48,000 after acquiring an additional 244 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Galaxy Digital by 2.1% during the 3rd quarter. Victory Capital Management Inc. now owns 19,596 shares of the company’s stock valued at $663,000 after acquiring an additional 411 shares during the last quarter. Belpointe Asset Management LLC lifted its position in shares of Galaxy Digital by 6.8% during the 3rd quarter. Belpointe Asset Management LLC now owns 13,641 shares of the company’s stock valued at $461,000 after acquiring an additional 867 shares during the last quarter. Raymond James Financial Inc. lifted its position in shares of Galaxy Digital by 6.7% during the 3rd quarter. Raymond James Financial Inc. now owns 13,768 shares of the company’s stock valued at $465,000 after acquiring an additional 868 shares during the last quarter. Finally, ORG Partners LLC lifted its position in shares of Galaxy Digital by 1,110.0% during the 3rd quarter. ORG Partners LLC now owns 968 shares of the company’s stock valued at $36,000 after acquiring an additional 888 shares during the last quarter.

Galaxy Digital Price Performance

GLXY opened at $31.12 on Thursday. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.80. Galaxy Digital Inc. has a 12-month low of $16.43 and a 12-month high of $45.92. The stock has a fifty day moving average of $22.41 and a 200-day moving average of $25.75. The firm has a market capitalization of $12.11 billion and a P/E ratio of -64.83.

Galaxy Digital (NASDAQ:GLXY) last announced its quarterly earnings data on Tuesday, April 28th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.10. Galaxy Digital had a negative return on equity of 2.27% and a negative net margin of 0.54%.The business had revenue of $7.35 billion during the quarter. During the same quarter in the prior year, the business posted ($0.86) earnings per share. Equities analysts forecast that Galaxy Digital Inc. will post -0.32 EPS for the current fiscal year.

Analyst Ratings Changes

GLXY has been the subject of a number of recent research reports. Morgan Stanley reiterated an “overweight” rating and set a $37.00 price objective on shares of Galaxy Digital in a research report on Wednesday, April 29th. Citigroup increased their target price on Galaxy Digital from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Wednesday, March 18th. Chardan Capital restated a “buy” rating and issued a $35.00 target price on shares of Galaxy Digital in a report on Monday. Canaccord Genuity Group restated a “buy” rating and issued a $50.00 target price on shares of Galaxy Digital in a report on Friday, April 24th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $39.00 target price on shares of Galaxy Digital in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $39.50.

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.