Hsbc Holdings PLC Acquires Shares of 42,610 Galaxy Digital Inc. $GLXY

Hsbc Holdings PLC bought a new stake in shares of Galaxy Digital Inc. (NASDAQ:GLXY) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 42,610 shares of the company’s stock, valued at approximately $958,000.

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

Insider Activity

In other news, Director Michael D. Daffey sold 250,000 shares of the 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 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 51.53% of the company’s stock.

Galaxy Digital Stock Performance

NASDAQ:GLXY opened at $23.35 on Tuesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.70 and a current ratio of 1.70. Galaxy Digital Inc. has a 52-week low of $16.43 and a 52-week high of $45.92. The firm has a market cap of $9.10 billion, a price-to-earnings ratio of -48.64 and a beta of 4.84. The business’s fifty day moving average is $29.31 and its 200 day moving average is $25.64.

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on GLXY. 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. Canaccord Genuity Group reissued a “buy” rating and set a $50.00 price objective on shares of Galaxy Digital in a report on Friday, April 24th. Citigroup raised their target price on Galaxy Digital from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 18th. 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, The Goldman Sachs Group lowered their target price on Galaxy Digital from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 8th. Twelve equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Galaxy Digital has an average rating of “Moderate Buy” and a consensus price target of $39.50.

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.