Clearline Capital LP Takes Position in Galaxy Digital Inc. $GLXY

Clearline Capital LP acquired a new stake in Galaxy Digital Inc. (NASDAQ:GLXY) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 180,392 shares of the company’s stock, valued at approximately $4,034,000.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Galaxy Digital by 27.5% in the fourth quarter. Vanguard Group Inc. now owns 20,669,893 shares of the company’s stock valued at $462,310,000 after acquiring an additional 4,463,782 shares during the period. SG Americas Securities LLC boosted its position in shares of Galaxy Digital by 173.8% in the fourth quarter. SG Americas Securities LLC now owns 252,558 shares of the company’s stock valued at $5,647,000 after acquiring an additional 160,305 shares during the period. Pictet Asset Management Holding SA boosted its position in shares of Galaxy Digital by 184.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 80,708 shares of the company’s stock valued at $1,808,000 after acquiring an additional 52,334 shares during the period. Encompass More Asset Management bought a new stake in shares of Galaxy Digital in the fourth quarter valued at approximately $896,000. Finally, Rovida Investment Management Ltd boosted its position in shares of Galaxy Digital by 21.2% in the third quarter. Rovida Investment Management Ltd now owns 1,861,200 shares of the company’s stock valued at $62,890,000 after acquiring an additional 325,000 shares during the period.

Insider Buying and Selling at Galaxy Digital

In other news, Director Michael D. Daffey sold 250,000 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $28.77, for a total value of $7,192,500.00. Following the completion of the sale, the director directly owned 1,505,419 shares in the company, valued at approximately $43,310,904.63. This trade represents a 14.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 51.53% of the company’s stock.

Galaxy Digital Stock Down 0.4%

Shares of NASDAQ GLXY opened at $33.04 on Thursday. The stock has a market cap of $12.88 billion and a PE ratio of -68.83. The business has a fifty day moving average of $28.07 and a two-hundred day moving average of $25.42. Galaxy Digital Inc. has a 52-week low of $16.43 and a 52-week high of $45.92. 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) last announced its earnings results on Tuesday, April 28th. The company reported ($0.49) earnings per share 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 company had revenue of $10.21 billion during the quarter. During the same quarter last year, the business posted ($0.86) earnings per share. As a group, equities research analysts expect that Galaxy Digital Inc. will post -0.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on GLXY. Rosenblatt Securities restated a “buy” rating and issued a $39.00 target price on shares of Galaxy Digital in a research note on Thursday, April 23rd. Wall Street Zen upgraded Galaxy Digital from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 2nd. BTIG Research restated a “buy” rating and issued a $50.00 target price on shares of Galaxy Digital in a research note on Thursday, May 21st. Canaccord Genuity Group restated a “buy” rating and issued a $50.00 target price on shares of Galaxy Digital in a research note on Friday, April 24th. Finally, Citigroup upped their target price on Galaxy Digital from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Wednesday, March 18th. Twelve investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $39.50.

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.