Marathon Trading Investment Management LLC Acquires Shares of 18,800 Galaxy Digital Inc. $GLXY

Marathon Trading Investment Management LLC acquired a new stake in shares of Galaxy Digital Inc. (NASDAQ:GLXY) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 18,800 shares of the company’s stock, valued at approximately $420,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Galaxy Digital by 27.5% during the fourth quarter. Vanguard Group Inc. now owns 20,669,893 shares of the company’s stock valued at $462,310,000 after acquiring an additional 4,463,782 shares during the period. Capital Research Global Investors acquired a new stake in shares of Galaxy Digital in the fourth quarter valued at $406,102,000. Geode Capital Management LLC increased its stake in shares of Galaxy Digital by 13.0% in the fourth quarter. Geode Capital Management LLC now owns 2,433,242 shares of the company’s stock valued at $54,424,000 after buying an additional 279,818 shares in the last quarter. Invesco Ltd. acquired a new stake in shares of Galaxy Digital in the second quarter valued at $53,233,000. Finally, Tidal Investments LLC acquired a new stake in shares of Galaxy Digital in the second quarter valued at $48,452,000.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GLXY shares. Canaccord Genuity Group restated a “buy” rating and issued a $50.00 target price on shares of Galaxy Digital in a research note on Friday, April 24th. Rosenblatt Securities restated a “buy” rating and issued a $39.00 target price on shares of Galaxy Digital in a research note on Thursday, April 23rd. Chardan Capital restated a “buy” rating and issued a $35.00 target price on shares of Galaxy Digital in a research note on Monday, May 4th. Citizens Jmp restated a “market outperform” rating and issued a $55.00 target price on shares of Galaxy Digital in a research note on Wednesday, April 29th. Finally, Weiss Ratings lowered Galaxy Digital from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Tuesday, May 26th. Twelve equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Galaxy Digital presently has an average rating of “Moderate Buy” and an average target price of $39.50.

Insider Buying and Selling

In related news, Director Michael D. Daffey sold 250,000 shares of Galaxy Digital 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 sale, the director directly owned 1,505,419 shares in the company, valued at $43,310,904.63. This trade represents a 14.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 51.53% of the stock is currently owned by insiders.

Galaxy Digital Price Performance

Shares of GLXY stock opened at $33.36 on Monday. The stock has a 50-day moving average price of $27.15 and a 200 day moving average price of $25.26. 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 firm has a market cap of $13.01 billion and a price-to-earnings ratio of -69.50. Galaxy Digital Inc. has a 12 month low of $16.43 and a 12 month high of $45.92.

Galaxy Digital (NASDAQ:GLXY) last announced its quarterly earnings data on Tuesday, April 28th. The company reported ($0.49) EPS 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 quarter in the previous year, the business earned ($0.86) earnings per share. Research analysts expect that Galaxy Digital Inc. will post -0.32 EPS for the current year.

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.