Galaxy Digital Inc. $GLXY Stock Position Cut by Rovida Investment Management Ltd

Rovida Investment Management Ltd lessened its holdings in shares of Galaxy Digital Inc. (NASDAQ:GLXY) by 5.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,711,200 shares of the company’s stock after selling 100,000 shares during the quarter. Galaxy Digital comprises about 4.0% of Rovida Investment Management Ltd’s holdings, making the stock its 7th biggest holding. Rovida Investment Management Ltd owned about 0.44% of Galaxy Digital worth $31,572,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bank of America Corp DE increased its stake in Galaxy Digital by 124.3% during the 1st quarter. Bank of America Corp DE now owns 539,186 shares of the company’s stock worth $9,948,000 after buying an additional 298,781 shares during the period. Anson Funds Management LP purchased a new position in Galaxy Digital in the 1st quarter valued at approximately $11,070,000. Janus Henderson Group PLC boosted its position in Galaxy Digital by 22.1% in the 1st quarter. Janus Henderson Group PLC now owns 89,981 shares of the company’s stock valued at $1,661,000 after buying an additional 16,300 shares during the period. Amundi boosted its position in Galaxy Digital by 57.0% in the 1st quarter. Amundi now owns 23,399 shares of the company’s stock valued at $432,000 after buying an additional 8,499 shares during the period. Finally, California State Teachers Retirement System grew its stake in shares of Galaxy Digital by 36.1% in the first quarter. California State Teachers Retirement System now owns 214,273 shares of the company’s stock worth $3,953,000 after acquiring an additional 56,867 shares in the last quarter.

Analyst Ratings Changes

GLXY has been the topic of a number of research reports. BTIG Research reiterated a “buy” rating and set a $50.00 target price on shares of Galaxy Digital in a report on Thursday, May 21st. Chardan Capital reiterated a “buy” rating and issued a $35.00 target price on shares of Galaxy Digital in a report on Monday, May 4th. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price target on shares of Galaxy Digital in a report on Friday, May 1st. Citizens Jmp reiterated a “market outperform” rating and issued a $55.00 price objective on shares of Galaxy Digital in a research note on Wednesday, April 29th. Finally, The Goldman Sachs Group cut their target price on shares of Galaxy Digital from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 8th. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $39.58.

Galaxy Digital Stock Up 17.9%

GLXY opened at $21.52 on Friday. Galaxy Digital Inc. has a one year low of $16.43 and a one year high of $45.92. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.70 and a current ratio of 1.70. The stock has a market capitalization of $8.39 billion, a P/E ratio of -44.83 and a beta of 4.84. The business’s 50-day simple moving average is $27.47 and its 200-day simple moving average is $25.51.

Galaxy Digital (NASDAQ:GLXY) last issued its quarterly earnings results 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. Galaxy Digital had a negative net margin of 0.54% and a negative return on equity of 2.30%. The firm had revenue of $10.21 billion during the quarter. During the same quarter in the prior year, the company earned ($0.86) EPS. Analysts anticipate that Galaxy Digital Inc. will post -0.5 EPS for the current year.

Insiders Place Their Bets

In other Galaxy Digital news, Director Michael D. Daffey sold 250,000 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $28.77, for a total value of $7,192,500.00. Following the transaction, the director directly owned 1,505,419 shares of the company’s stock, valued at approximately $43,310,904.63. The trade was a 14.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 51.53% of the stock is currently owned by company insiders.

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.