Apollon Wealth Management LLC Buys Shares of 35,154 Galaxy Digital Inc. $GLXY

Apollon Wealth Management LLC purchased a new position in Galaxy Digital Inc. (NASDAQ:GLXY) in the first quarter, HoldingsChannel.com reports. The fund purchased 35,154 shares of the company’s stock, valued at approximately $649,000.

A number of other large investors have also made changes to their positions in the stock. Caitong International Asset Management Co. Ltd increased its position in Galaxy Digital by 183.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,434 shares of the company’s stock worth $32,000 after purchasing an additional 928 shares in the last quarter. Picton Mahoney Asset Management raised its stake in Galaxy Digital by 200.0% in the 4th quarter. Picton Mahoney Asset Management now owns 1,500 shares of the company’s stock valued at $34,000 after purchasing an additional 1,000 shares during the last quarter. Danske Bank A S purchased a new position in Galaxy Digital in the 4th quarter valued at about $36,000. Northwestern Mutual Wealth Management Co. purchased a new position in Galaxy Digital in the 4th quarter valued at about $46,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Galaxy Digital during the 4th quarter worth about $49,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on GLXY shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 price target on shares of Galaxy Digital in a report on Friday, May 1st. BTIG Research reissued a “buy” rating and set a $50.00 price objective on shares of Galaxy Digital in a research note on Thursday, May 21st. Chardan Capital restated a “buy” rating and set a $35.00 target price on shares of Galaxy Digital in a research report on Monday, May 4th. Weiss Ratings cut shares of Galaxy Digital from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Tuesday, May 26th. Finally, Citigroup boosted their price target on Galaxy Digital from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Wednesday, March 18th. Twelve analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Galaxy Digital presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.50.

Galaxy Digital Stock Performance

NASDAQ:GLXY opened at $24.59 on Friday. 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 company has a market cap of $9.59 billion, a P/E ratio of -51.23 and a beta of 4.84. Galaxy Digital Inc. has a fifty-two week low of $16.43 and a fifty-two week high of $45.92. The firm’s 50 day moving average is $29.48 and its two-hundred day moving average is $25.60.

Galaxy Digital (NASDAQ:GLXY) last announced its quarterly earnings results 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 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 quarter last year, the business earned ($0.86) EPS. Analysts expect that Galaxy Digital Inc. will post -0.32 EPS for the current year.

Insiders Place Their Bets

In related news, Director Michael D. Daffey sold 250,000 shares of Galaxy Digital stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $28.77, for a total value of $7,192,500.00. Following the transaction, the director owned 1,505,419 shares in the company, valued at approximately $43,310,904.63. This trade represents a 14.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 51.53% of the company’s stock.

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.