Y Intercept Hong Kong Ltd Takes $590,000 Position in Galaxy Digital Inc. $GLXY

Y Intercept Hong Kong Ltd bought a new position in Galaxy Digital Inc. (NASDAQ:GLXY) during the 1st quarter, Holdings Channel.com reports. The firm bought 32,002 shares of the company’s stock, valued at approximately $590,000.

Other hedge funds also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd raised its holdings 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 valued at $32,000 after buying an additional 928 shares during the last quarter. Picton Mahoney Asset Management grew its holdings in Galaxy Digital by 200.0% in the 4th quarter. Picton Mahoney Asset Management now owns 1,500 shares of the company’s stock worth $34,000 after acquiring an additional 1,000 shares during the last quarter. Danske Bank A S purchased a new position in shares of Galaxy Digital in the fourth quarter valued at about $36,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Galaxy Digital in the fourth quarter valued at about $46,000. Finally, Itau Unibanco Holding S.A. bought a new position in shares of Galaxy Digital during the fourth quarter valued at about $49,000.

Insider Buying and Selling

In other Galaxy Digital 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 completion of the sale, the director directly owned 1,505,419 shares in the company, valued at $43,310,904.63. This trade represents a 14.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 51.53% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GLXY has been the subject of a number of analyst reports. Weiss Ratings lowered shares of Galaxy Digital from a “sell (d+)” rating to a “sell (d-)” rating in a report on Tuesday, May 26th. Chardan Capital restated a “buy” rating and set a $35.00 price target on shares of Galaxy Digital in a report on Monday, May 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price target on shares of Galaxy Digital in a research report on Friday, May 1st. Rosenblatt Securities reaffirmed a “buy” rating and set a $39.00 price target on shares of Galaxy Digital in a research report on Thursday, April 23rd. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $37.00 price objective on shares of Galaxy Digital in a report on Wednesday, April 29th. Twelve investment 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $39.50.

Galaxy Digital Stock Down 6.1%

Shares of NASDAQ GLXY opened at $23.35 on Tuesday. The firm has a fifty day simple moving average of $29.31 and a two-hundred day simple moving average of $25.64. Galaxy Digital Inc. has a 12 month low of $16.43 and a 12 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 firm has a market capitalization of $9.10 billion, a PE ratio of -48.64 and a beta of 4.84.

Galaxy Digital (NASDAQ:GLXY) last announced its 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 firm had revenue of $10.21 billion for the quarter. During the same period in the previous year, the firm posted ($0.86) EPS. Equities analysts expect that Galaxy Digital Inc. will post -0.32 earnings per share for the current year.

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.