AMG National Trust Bank Invests $657,000 in Galaxy Digital Inc. $GLXY

AMG National Trust Bank purchased a new stake in Galaxy Digital Inc. (NASDAQ:GLXY) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 35,600 shares of the company’s stock, valued at approximately $657,000.

A number of other hedge funds have also modified their holdings of the company. Fifth Third Bancorp acquired a new position in Galaxy Digital during the first quarter valued at approximately $123,000. QRG Capital Management Inc. bought a new stake in shares of Galaxy Digital in the 1st quarter valued at $244,000. Capelight Capital Asset Management LP raised its stake in Galaxy Digital by 13.9% during the 1st quarter. Capelight Capital Asset Management LP now owns 205,000 shares of the company’s stock worth $3,782,000 after buying an additional 25,000 shares during the period. Private Advisor Group LLC raised its stake in Galaxy Digital by 6.9% during the 1st quarter. Private Advisor Group LLC now owns 10,108 shares of the company’s stock worth $186,000 after buying an additional 655 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in Galaxy Digital during the first quarter worth about $590,000.

Analyst Upgrades and Downgrades

GLXY has been the subject of a number of research reports. Rosenblatt Securities reissued a “buy” rating and set a $39.00 target price on shares of Galaxy Digital in a research note on Thursday, April 23rd. Piper Sandler cut their price target on shares of Galaxy Digital from $42.00 to $36.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 21st. BTIG Research reiterated a “buy” rating and issued a $50.00 price target on shares of Galaxy Digital in a report on Thursday, May 21st. Morgan Stanley reissued an “overweight” rating and set a $37.00 price objective on shares of Galaxy Digital in a research report on Wednesday, April 29th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price objective on shares of Galaxy Digital in a report on Friday, May 1st. Twelve research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Galaxy Digital has an average rating of “Moderate Buy” and a consensus target price of $39.50.

Galaxy Digital Price Performance

NASDAQ:GLXY opened at $24.58 on Thursday. 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’s 50-day simple moving average is $29.06 and its 200 day simple moving average is $25.64. The company has a market cap of $9.58 billion, a P/E ratio of -51.21 and a beta of 4.84. Galaxy Digital Inc. has a 52-week low of $16.43 and a 52-week high of $45.92.

Galaxy Digital (NASDAQ:GLXY) last released its earnings results on Tuesday, April 28th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $10.21 billion for the quarter. During the same quarter in the previous year, the company posted ($0.86) EPS. As a group, sell-side analysts forecast that Galaxy Digital Inc. will post -0.32 EPS for the current fiscal year.

Insider Buying and Selling at Galaxy Digital

In related news, Director Michael D. Daffey sold 250,000 shares of the firm’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 completion of 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 Securities & Exchange Commission, which can be accessed through the SEC website. 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.