Galaxy Digital Inc. $GLXY Shares Sold by Senator Investment Group LP

Senator Investment Group LP lowered its holdings in shares of Galaxy Digital Inc. (NASDAQ:GLXY) by 32.8% during the 2nd quarter, Holdings Channel reports. The fund owned 96,491 shares of the company’s stock after selling 47,148 shares during the period. Senator Investment Group LP’s holdings in Galaxy Digital were worth $2,638,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in GLXY. JPMorgan Chase & Co. bought a new stake in shares of Galaxy Digital during the second quarter valued at about $80,000. Invesco Ltd. acquired a new stake in Galaxy Digital in the second quarter worth about $53,233,000. EverSource Wealth Advisors LLC bought a new position in Galaxy Digital in the 2nd quarter valued at about $116,000. First Trust Advisors LP bought a new position in Galaxy Digital in the 2nd quarter valued at about $13,376,000. Finally, Cerity Partners LLC acquired a new position in Galaxy Digital during the 2nd quarter valued at about $219,000.

Insider Buying and Selling at Galaxy Digital

In related news, Director Steven John Bandrowczak purchased 5,100 shares of the stock in a transaction dated Monday, August 10th. The shares were acquired at an average cost of $19.63 per share, for a total transaction of $100,113.00. Following the acquisition, the director directly owned 39,186 shares in the company, valued at approximately $769,221.18. The trade was a 14.96% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Douglas R. Deason purchased 12,000 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was bought at an average cost 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 $1,529,340. The trade was a 20.34% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 51.53% of the company’s stock.

Galaxy Digital Stock Performance

Galaxy Digital stock opened at $23.21 on Monday. The company has a 50 day moving average price of $23.72 and a 200 day moving average price of $24.59. 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 1.04, a quick ratio of 1.50 and a current ratio of 1.50. The firm has a market capitalization of $9.07 billion, a price-to-earnings ratio of -35.71 and a beta of 5.06.

Galaxy Digital (NASDAQ:GLXY) last released its earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.27. Galaxy Digital had a negative return on equity of 6.25% and a negative net margin of 0.75%.The company had revenue of $8.71 billion for the quarter. During the same period last year, the firm earned $0.08 EPS. Research analysts forecast that Galaxy Digital Inc. will post -0.82 EPS for the current year.

Wall Street Analyst Weigh In

GLXY has been the topic of several recent analyst reports. Citigroup dropped their target price on Galaxy Digital from $28.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, August 19th. Zacks Research cut Galaxy Digital from a “hold” rating to a “strong sell” rating in a research report on Monday, July 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Galaxy Digital in a research note on Friday, August 21st. Piper Sandler dropped their price objective on Galaxy Digital from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Friday, July 17th. Finally, Rosenblatt Securities cut their price objective on Galaxy Digital from $39.00 to $35.00 and set a “buy” rating for the company in a report on Monday, August 3rd. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $38.67.

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.