Galaxy Digital (NASDAQ:GLXY) Director Douglas Deason Buys 5,000 Shares of Stock

Galaxy Digital Inc. (NASDAQ:GLXY) Director Douglas Deason bought 5,000 shares of the firm’s stock in a transaction dated Friday, November 6th. The shares were acquired at an average price of $13.98 per share, for a total transaction of $69,900.00. Following the completion of 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 SEC, which is available through this hyperlink.

Galaxy Digital Stock Performance

NASDAQ GLXY opened at $14.11 on Wednesday. Galaxy Digital Inc. has a twelve month low of $11.78 and a twelve month high of $36.10. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.04. The stock has a market cap of $5.52 billion, a P/E ratio of -14.11 and a beta of 5.38. The company’s 50-day simple moving average is $20.48 and its 200 day simple moving average is $23.64.

Galaxy Digital (NASDAQ:GLXY) last released its quarterly earnings data on Tuesday, October 27th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.54. Galaxy Digital had a negative return on equity of 10.30% and a negative net margin of 0.89%. The company had revenue of $8.69 billion for the quarter. As a group, research analysts forecast that Galaxy Digital Inc. will post -0.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on GLXY shares. Zacks Research upgraded Galaxy Digital from a “strong sell” rating to a “hold” rating in a research report on Friday, September 18th. Weiss Ratings raised Galaxy Digital from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $50.00 target price on shares of Galaxy Digital in a report on Wednesday, October 28th. Chardan Capital reaffirmed a “buy” rating and issued a $35.00 target price on shares of Galaxy Digital in a report on Tuesday, October 27th. Finally, Piper Sandler dropped their target price on shares of Galaxy Digital from $33.00 to $25.00 and set an “overweight” rating for the company in a research report on Tuesday, October 20th. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.96.

Institutional Trading of Galaxy Digital

Several large investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. bought a new position in shares of Galaxy Digital in the second quarter valued at about $30,000. Reyes Financial Architecture Inc. bought a new stake in Galaxy Digital during the 3rd quarter worth about $30,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Galaxy Digital during the 3rd quarter worth about $37,000. Hollencrest Capital Management increased its position in Galaxy Digital by 204.0% in the 1st quarter. Hollencrest Capital Management now owns 2,584 shares of the company’s stock valued at $48,000 after acquiring an additional 1,734 shares in the last quarter. Finally, CoreCap Advisors LLC increased its holdings in shares of Galaxy Digital by 496.0% in the third quarter. CoreCap Advisors LLC now owns 2,211 shares of the company’s stock valued at $50,000 after purchasing an additional 1,840 shares in the last quarter.

Galaxy Digital Company Profile

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.