Galaxy Digital Inc. $GLXY Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC raised its stake in Galaxy Digital Inc. (NASDAQ:GLXY) by 78.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 451,875 shares of the company’s stock after acquiring an additional 199,317 shares during the quarter. SG Americas Securities LLC’s holdings in Galaxy Digital were worth $8,337,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. lifted its stake in shares of Galaxy Digital by 2.1% in the 3rd quarter. Victory Capital Management Inc. now owns 19,596 shares of the company’s stock valued at $663,000 after purchasing an additional 411 shares during the period. Dimensional Fund Advisors LP grew its position in Galaxy Digital by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 52,879 shares of the company’s stock valued at $1,182,000 after buying an additional 666 shares during the period. Main Management ETF Advisors LLC grew its position in Galaxy Digital by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 71,253 shares of the company’s stock valued at $1,593,000 after buying an additional 728 shares during the period. Cetera Investment Advisers increased its holdings in Galaxy Digital by 2.3% in the fourth quarter. Cetera Investment Advisers now owns 32,963 shares of the company’s stock valued at $737,000 after buying an additional 742 shares in the last quarter. Finally, Raymond James Financial Inc. increased its holdings in Galaxy Digital by 6.7% in the third quarter. Raymond James Financial Inc. now owns 13,768 shares of the company’s stock valued at $465,000 after buying an additional 868 shares in the last quarter.

Analyst Upgrades and Downgrades

GLXY has been the topic of several recent analyst reports. Morgan Stanley reissued an “overweight” rating and set a $37.00 target price on shares of Galaxy Digital in a research note on Wednesday, April 29th. Rosenblatt Securities restated a “buy” rating and issued a $39.00 price target on shares of Galaxy Digital in a research note on Thursday, April 23rd. Chardan Capital reaffirmed a “buy” rating and issued a $35.00 price target on shares of Galaxy Digital in a report on Monday, May 4th. Citizens Jmp reiterated a “market outperform” rating and set a $55.00 price target on shares of Galaxy Digital in a research report on Wednesday, April 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 price objective on shares of Galaxy Digital in a report on Friday, May 1st. Twelve investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.50.

Galaxy Digital Stock Up 3.5%

Shares of GLXY opened at $29.26 on Friday. The stock has a 50 day moving average price of $29.44 and a 200 day moving average price of $25.67. 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 $11.41 billion and a price-to-earnings ratio of -60.96.

Galaxy Digital (NASDAQ:GLXY) last announced its quarterly earnings data on Tuesday, April 28th. The company reported ($0.49) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.10. Galaxy Digital had a negative return on equity of 2.30% and a negative net margin of 0.54%.The company had revenue of $10.21 billion for the quarter. During the same quarter in the previous year, the business posted ($0.86) EPS. Equities research analysts forecast that Galaxy Digital Inc. will post -0.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Galaxy Digital

In other news, Director Michael D. Daffey sold 250,000 shares of the firm’s stock in a transaction dated 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. This trade represents a 14.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 51.53% of the company’s stock.

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.