Galaxy Digital (NASDAQ:GLXY) Director Buys $69,900.00 in Stock

Galaxy Digital Inc. (NASDAQ:GLXY) Director Douglas Deason purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 6th. The stock was acquired at an average cost of $13.98 per share, for a total transaction of $69,900.00. Following the transaction, the director owned 76,000 shares in the company, valued at $1,062,480. This represents a 7.04% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Galaxy Digital Stock Performance

Shares of NASDAQ:GLXY opened at $15.18 on Friday. The business’s 50 day moving average is $20.15 and its 200 day moving average is $23.47. Galaxy Digital Inc. has a 12-month low of $11.78 and a 12-month high of $36.10. The company has a quick ratio of 1.50, a current ratio of 1.70 and a debt-to-equity ratio of 2.11.

Galaxy Digital (NASDAQ:GLXY) last issued its quarterly earnings data on Tuesday, October 27th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.54. The business had revenue of $8.69 billion for the quarter. Galaxy Digital had a negative return on equity of 10.17% and a negative net margin of 0.89%.

Hedge Funds Weigh In On Galaxy Digital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Trust Advisors LP boosted its stake in shares of Galaxy Digital by 112.7% in the 3rd quarter. First Trust Advisors LP now owns 1,075,361 shares of the company’s stock valued at $24,454,000 after purchasing an additional 569,813 shares in the last quarter. State Street Corp grew its stake in shares of Galaxy Digital by 6.2% during the third quarter. State Street Corp now owns 4,071,024 shares of the company’s stock valued at $92,575,000 after buying an additional 237,031 shares during the last quarter. Cornerstone Select Advisors LLC increased its holdings in shares of Galaxy Digital by 2.4% in the third quarter. Cornerstone Select Advisors LLC now owns 35,900 shares of the company’s stock worth $816,000 after buying an additional 850 shares during the period. Voya Investment Management LLC grew its position in Galaxy Digital by 22.6% during the 3rd quarter. Voya Investment Management LLC now owns 257,519 shares of the company’s stock worth $5,856,000 after acquiring an additional 47,400 shares during the last quarter. Finally, Phoenix Financial Ltd. grew its position in Galaxy Digital by 17.8% during the 3rd quarter. Phoenix Financial Ltd. now owns 10,200 shares of the company’s stock worth $233,000 after acquiring an additional 1,541 shares during the last quarter.

Wall Street Analyst Weigh In

GLXY has been the subject of several research analyst reports. Weiss Ratings raised Galaxy Digital from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday. Maxim Group decreased their price objective on Galaxy Digital from $46.00 to $36.00 and set a “buy” rating for the company in a report on Thursday, October 22nd. Citigroup raised shares of Galaxy Digital from a “neutral” rating to a “buy” rating and upped their price objective for the company from $26.00 to $28.00 in a report on Tuesday, October 13th. Zacks Research raised shares of Galaxy Digital from a “strong sell” rating to a “hold” rating in a research report on Friday, September 18th. Finally, Rosenblatt Securities lowered their target price on shares of Galaxy Digital from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, October 26th. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $33.96.

About Galaxy Digital

Galaxy Digital is a financial services and investment management company focused on digital assets and blockchain technology. Its businesses include trading and other financial services for institutions, investment and asset management, and digital infrastructure, including data center and bitcoin mining operations. Founded in 2018 by Michael Novogratz, the company serves institutional clients and investors in the United States and other markets. Novogratz is Galaxy’s founder and chief executive officer.