CORDA Investment Management LLC. Acquires Shares of 49,685 Galaxy Digital Inc. $GLXY

CORDA Investment Management LLC. acquired a new stake in shares of Galaxy Digital Inc. (NASDAQ:GLXY) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 49,685 shares of the company’s stock, valued at approximately $1,358,000.

Several other large investors have also recently made changes to their positions in GLXY. Nykredit A S purchased a new stake in shares of Galaxy Digital in the second quarter worth about $308,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Galaxy Digital in the 2nd quarter worth approximately $1,552,000. California State Teachers Retirement System raised its holdings in shares of Galaxy Digital by 2,735.0% during the 2nd quarter. California State Teachers Retirement System now owns 6,074,538 shares of the company’s stock worth $166,078,000 after acquiring an additional 5,860,265 shares in the last quarter. Compass Financial Management LLC purchased a new stake in shares of Galaxy Digital during the 2nd quarter worth approximately $120,000. Finally, FirstWave Capital Management LLC bought a new position in shares of Galaxy Digital during the 2nd quarter valued at approximately $1,262,000.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GLXY shares. BTIG Research reduced their price target on shares of Galaxy Digital from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, August 5th. Piper Sandler lowered their price objective on shares of Galaxy Digital from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Friday, July 17th. Rosenblatt Securities reduced their target price on shares of Galaxy Digital from $39.00 to $35.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Morgan Stanley upped their price objective on Galaxy Digital from $37.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, September 3rd. Finally, Citigroup cut their target price on Galaxy Digital from $28.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 19th. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.58.

Galaxy Digital Trading Up 2.7%

Shares of Galaxy Digital stock traded up $0.72 during trading on Tuesday, hitting $27.05. The stock had a trading volume of 4,323,867 shares, compared to its average volume of 6,440,465. Galaxy Digital Inc. has a 12 month low of $16.43 and a 12 month high of $45.92. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.50 and a quick ratio of 1.50. The firm’s fifty day simple moving average is $23.16 and its 200-day simple moving average is $24.77. The stock has a market cap of $10.57 billion, a PE ratio of -41.61 and a beta of 5.10.

Galaxy Digital (NASDAQ:GLXY) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.27. The company had revenue of $8.71 billion for 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 in the previous year, the company posted $0.08 earnings per share. As a group, sell-side analysts expect that Galaxy Digital Inc. will post -0.79 EPS for the current fiscal year.

Insider Activity

In other Galaxy Digital news, Director Douglas R. Deason bought 12,000 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were purchased at an average price of $21.54 per share, with a total value of $258,480.00. Following the completion of the purchase, the director owned 71,000 shares in the company, valued at $1,529,340. This represents a 20.34% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Steven Bandrowczak purchased 5,100 shares of Galaxy Digital stock in a transaction dated Monday, August 10th. The stock was acquired at an average price of $19.63 per share, for a total transaction of $100,113.00. Following the completion of the acquisition, the director owned 39,186 shares of the company’s stock, valued at approximately $769,221.18. This trade represents a 14.96% increase in their position. The SEC filing for this purchase provides additional information. 51.53% of the stock is 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.