Thoroughbred Financial Services LLC Takes $393,000 Position in Galaxy Digital Inc. $GLXY

Thoroughbred Financial Services LLC purchased a new stake in Galaxy Digital Inc. (NASDAQ:GLXY) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 17,577 shares of the company’s stock, valued at approximately $393,000.

Several other hedge funds have also modified their holdings of the business. Geode Capital Management LLC lifted its holdings in shares of Galaxy Digital by 13.0% in the 4th 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 during the period. Harbour Investments Inc. increased its holdings in shares of Galaxy Digital by 12,563.3% in the 4th quarter. Harbour Investments Inc. now owns 3,799 shares of the company’s stock valued at $85,000 after purchasing an additional 3,769 shares in the last quarter. Prospera Financial Services Inc purchased a new position in shares of Galaxy Digital in the 4th quarter valued at about $304,000. Signature Estate & Investment Advisors LLC increased its holdings in shares of Galaxy Digital by 46.1% in the 4th quarter. Signature Estate & Investment Advisors LLC now owns 25,654 shares of the company’s stock valued at $574,000 after purchasing an additional 8,098 shares in the last quarter. Finally, Global Retirement Partners LLC increased its holdings in shares of Galaxy Digital by 1,651.1% in the 4th quarter. Global Retirement Partners LLC now owns 33,095 shares of the company’s stock valued at $740,000 after purchasing an additional 31,205 shares in the last quarter.

Galaxy Digital Price Performance

Galaxy Digital stock opened at $29.58 on Friday. Galaxy Digital Inc. has a 52 week low of $16.43 and a 52 week high of $45.92. 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’s 50-day simple moving average is $25.04 and its 200 day simple moving average is $25.05. The firm has a market capitalization of $11.53 billion and a PE ratio of -61.62.

Galaxy Digital (NASDAQ:GLXY) last released its quarterly earnings data on Tuesday, April 28th. The company reported ($0.49) EPS for the quarter, topping 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 business had revenue of $10.21 billion for the quarter. During the same quarter in the prior year, the firm earned ($0.86) earnings per share. On average, equities research analysts predict that Galaxy Digital Inc. will post -0.32 EPS for the current fiscal year.

Insider Activity

In related news, Director Michael D. Daffey sold 250,000 shares of Galaxy Digital stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $28.77, for a total transaction of $7,192,500.00. Following the completion of the transaction, the director directly owned 1,505,419 shares in the company, valued at $43,310,904.63. The trade was a 14.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 51.53% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on GLXY shares. Chardan Capital reiterated a “buy” rating and issued a $35.00 price target on shares of Galaxy Digital in a report on Monday, May 4th. HC Wainwright cut their price target on shares of Galaxy Digital from $45.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, February 4th. Rosenblatt Securities restated a “buy” rating and issued a $39.00 price target on shares of Galaxy Digital in a report on Thursday, April 23rd. Citigroup upped their price target on Galaxy Digital from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Wednesday, March 18th. Finally, Citizens Jmp restated a “market outperform” rating and issued a $55.00 price target on shares of Galaxy Digital in a report on Wednesday, April 29th. Twelve equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Galaxy Digital presently has a consensus rating of “Moderate Buy” and an average target price of $39.50.

Galaxy Digital 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.