Galaxy Digital Inc. $GLXY Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Galaxy Digital Inc. (NASDAQ:GLXY) by 20.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 383,406 shares of the company’s stock after acquiring an additional 64,343 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Galaxy Digital were worth $10,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd lifted its position in shares of Galaxy Digital by 183.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,434 shares of the company’s stock valued at $32,000 after buying an additional 928 shares in the last quarter. Picton Mahoney Asset Management lifted its stake in shares of Galaxy Digital by 200.0% in the fourth quarter. Picton Mahoney Asset Management now owns 1,500 shares of the company’s stock worth $34,000 after buying an additional 1,000 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Galaxy Digital during the 4th quarter worth approximately $46,000. Hollencrest Capital Management boosted its stake in Galaxy Digital by 204.0% during the first quarter. Hollencrest Capital Management now owns 2,584 shares of the company’s stock worth $48,000 after buying an additional 1,734 shares during the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Galaxy Digital during the 4th quarter valued at about $49,000.

Galaxy Digital Stock Performance

NASDAQ:GLXY opened at $26.33 on Monday. The firm has a market cap of $10.29 billion, a P/E ratio of -40.51 and a beta of 5.10. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.04. Galaxy Digital Inc. has a 12-month low of $16.43 and a 12-month high of $45.92. The stock’s 50 day simple moving average is $23.21 and its 200-day simple moving average is $24.73.

Galaxy Digital (NASDAQ:GLXY) last released its earnings results on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, topping 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 6.25%. During the same quarter last year, the business posted $0.08 EPS. Equities analysts anticipate that Galaxy Digital Inc. will post -0.79 EPS for the current year.

Insider Buying and Selling at Galaxy Digital

In related news, Director Douglas Deason acquired 12,000 shares of Galaxy Digital stock in a transaction that occurred on Wednesday, August 12th. The stock was purchased at an average price of $21.54 per share, for a total transaction of $258,480.00. Following the completion of the purchase, the director directly owned 71,000 shares of the company’s stock, valued at approximately $1,529,340. This trade represents a 20.34% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven Bandrowczak bought 5,100 shares of the stock in a transaction on Monday, August 10th. The shares were bought at an average price of $19.63 per share, for a total transaction of $100,113.00. Following the completion of the transaction, the director directly owned 39,186 shares of the company’s stock, valued at $769,221.18. This trade represents a 14.96% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 51.53% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Citigroup lowered their price objective on Galaxy Digital from $28.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, August 19th. Morgan Stanley lifted their price objective on shares of Galaxy Digital from $37.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday. Weiss Ratings reissued a “sell (d-)” rating on shares of Galaxy Digital in a research note on Friday, August 21st. Zacks Research downgraded shares of Galaxy Digital from a “hold” rating to a “strong sell” rating in a research report on Monday, July 20th. Finally, BTIG Research dropped their price objective on Galaxy Digital from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $39.58.

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.