SG Americas Securities LLC Increases Stock Holdings in Galaxy Digital Inc. $GLXY

SG Americas Securities LLC boosted its holdings in shares of Galaxy Digital Inc. (NASDAQ:GLXY) by 78.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 451,875 shares of the company’s stock after buying an additional 199,317 shares during the period. SG Americas Securities LLC owned approximately 0.12% of Galaxy Digital worth $8,337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Hsbc Holdings PLC acquired a new stake in Galaxy Digital in the fourth quarter worth about $958,000. Caitong International Asset Management Co. Ltd raised its position in shares of Galaxy Digital by 8,070.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 41,340 shares of the company’s stock valued at $924,000 after purchasing an additional 40,834 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Galaxy Digital in the 4th quarter valued at approximately $1,181,000. Mcguire Capital Advisors Inc. acquired a new stake in Galaxy Digital in the 4th quarter worth approximately $154,000. Finally, Invesco Ltd. boosted its stake in Galaxy Digital by 31.1% in the 4th quarter. Invesco Ltd. now owns 3,082,187 shares of the company’s stock worth $68,918,000 after purchasing an additional 731,215 shares in the last quarter.

Insider Buying and Selling

In other Galaxy Digital news, Director Michael D. Daffey sold 250,000 shares of the company’s stock in a transaction on 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 sale, the director directly owned 1,505,419 shares of the company’s stock, valued at approximately $43,310,904.63. This represents a 14.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 51.53% of the company’s stock.

Galaxy Digital Price Performance

Shares of NASDAQ:GLXY opened at $29.26 on Friday. Galaxy Digital Inc. has a twelve month low of $16.43 and a twelve month high of $45.92. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.94. The company has a market cap of $11.41 billion and a PE ratio of -60.96. The company’s 50 day moving average is $29.44 and its 200 day moving average is $25.67.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Galaxy Digital from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 2nd. Chardan Capital reiterated a “buy” rating and set a $35.00 price objective on shares of Galaxy Digital in a research note on Monday, May 4th. Morgan Stanley reissued an “overweight” rating and set a $37.00 price objective on shares of Galaxy Digital in a report on Wednesday, April 29th. Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 target price on shares of Galaxy Digital in a research report on Friday, May 1st. Finally, 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. Twelve investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Galaxy Digital presently has an average rating of “Moderate Buy” and a consensus price target of $39.50.

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.