Seven Grand Managers LLC Sells 750,000 Shares of Galaxy Digital Inc. $GLXY

Seven Grand Managers LLC lowered its position in Galaxy Digital Inc. (NASDAQ:GLXY) by 37.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,250,000 shares of the company’s stock after selling 750,000 shares during the period. Galaxy Digital comprises about 2.1% of Seven Grand Managers LLC’s investment portfolio, making the stock its 12th biggest holding. Seven Grand Managers LLC owned 0.32% of Galaxy Digital worth $27,950,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Danske Bank A S bought a new stake in Galaxy Digital during the fourth quarter valued at about $36,000. CWM LLC grew its holdings in Galaxy Digital by 108.2% during the fourth quarter. CWM LLC now owns 2,954 shares of the company’s stock valued at $66,000 after purchasing an additional 1,535 shares during the period. MCF Advisors LLC bought a new stake in Galaxy Digital during the third quarter valued at about $75,000. UMB Bank n.a. bought a new stake in Galaxy Digital during the third quarter valued at about $78,000. Finally, JPMorgan Chase & Co. bought a new stake in Galaxy Digital during the second quarter valued at about $80,000.

Insider Buying and Selling at Galaxy Digital

In other news, Director Michael D. Daffey sold 250,000 shares of the company’s stock in a transaction dated 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 transaction, the director owned 1,505,419 shares of the company’s stock, valued at $43,310,904.63. This represents a 14.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 51.53% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on GLXY shares. Canaccord Genuity Group reissued a “buy” rating and set a $50.00 price target on shares of Galaxy Digital in a report on Friday, April 24th. Morgan Stanley reissued an “overweight” rating and set a $37.00 price target on shares of Galaxy Digital in a report on Wednesday, April 29th. Chardan Capital reissued a “buy” rating and set a $35.00 price target on shares of Galaxy Digital in a report on Monday, May 4th. HC Wainwright cut their price target on Galaxy Digital from $45.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, February 4th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $39.00 price target on shares of Galaxy Digital in a report on Thursday, April 23rd. Twelve investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.50.

Galaxy Digital Stock Performance

NASDAQ GLXY opened at $29.97 on Thursday. The firm has a market cap of $11.69 billion and a price-to-earnings ratio of -62.44. 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 business has a 50-day moving average price of $24.75 and a 200-day moving average price of $25.02. Galaxy Digital Inc. has a twelve month low of $16.43 and a twelve month high of $45.92.

Galaxy Digital (NASDAQ:GLXY) last released its quarterly earnings data on Tuesday, April 28th. The company reported ($0.49) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.10. The firm had revenue of $10.21 billion during the quarter. Galaxy Digital had a negative return on equity of 2.30% and a negative net margin of 0.54%.During the same period last year, the company earned ($0.86) EPS. As a group, equities research analysts predict that Galaxy Digital Inc. will post -0.32 EPS for the current fiscal year.

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.