Cornerstone Select Advisors LLC Makes New Investment in Galaxy Digital Inc. $GLXY

Cornerstone Select Advisors LLC acquired a new stake in shares of Galaxy Digital Inc. (NASDAQ:GLXY) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 17,174 shares of the company’s stock, valued at approximately $384,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Danske Bank A S purchased a new stake in shares of Galaxy Digital during the 4th quarter valued at $36,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Galaxy Digital during the 4th quarter valued at $46,000. CWM LLC raised its position in shares of Galaxy Digital by 108.2% during the 4th quarter. CWM LLC now owns 2,954 shares of the company’s stock valued at $66,000 after buying an additional 1,535 shares in the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Galaxy Digital during the 4th quarter valued at $71,000. Finally, MCF Advisors LLC purchased a new stake in shares of Galaxy Digital during the 3rd quarter valued at $75,000.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Piper Sandler lowered their price objective on shares of Galaxy Digital from $42.00 to $36.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. Citigroup raised their price objective on shares of Galaxy Digital from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Wednesday, March 18th. Canaccord Genuity Group restated a “buy” rating and set a $50.00 price objective on shares of Galaxy Digital in a research report on Friday, April 24th. Chardan Capital restated a “buy” rating and set a $35.00 price objective on shares of Galaxy Digital in a research report on Monday, May 4th. Finally, Morgan Stanley restated an “overweight” rating and set a $37.00 price objective on shares of Galaxy Digital in a research report on Wednesday, April 29th. Twelve investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $39.50.

Insider Activity at Galaxy Digital

In related news, Director Michael D. Daffey sold 250,000 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $28.77, for a total transaction of $7,192,500.00. Following the transaction, the director owned 1,505,419 shares of the company’s stock, valued at approximately $43,310,904.63. This trade represents a 14.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 51.53% of the company’s stock.

Galaxy Digital Price Performance

GLXY stock opened at $29.58 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.70 and a current ratio of 1.70. Galaxy Digital Inc. has a 52 week low of $16.43 and a 52 week high of $45.92. The firm’s fifty day moving average is $25.04 and its 200 day moving average is $25.05. The firm has a market cap of $11.53 billion and a P/E ratio of -61.62.

Galaxy Digital (NASDAQ:GLXY) last released its earnings results on Tuesday, April 28th. The company reported ($0.49) EPS for the quarter, beating the consensus estimate 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 company had revenue of $10.21 billion for the quarter. During the same period in the prior year, the business posted ($0.86) EPS. Research analysts predict that Galaxy Digital Inc. will post -0.32 earnings per share 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.