Galaxy Digital Inc. $GLXY Position Raised by Clear Street Group Inc.

Clear Street Group Inc. raised its stake in Galaxy Digital Inc. (NASDAQ:GLXY) by 3.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,176,854 shares of the company’s stock after buying an additional 42,961 shares during the quarter. Clear Street Group Inc. owned approximately 0.30% of Galaxy Digital worth $26,314,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in GLXY. Caitong International Asset Management Co. Ltd lifted its stake in Galaxy Digital by 183.4% in the fourth 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 lifted its stake in Galaxy Digital by 200.0% in the fourth quarter. Picton Mahoney Asset Management now owns 1,500 shares of the company’s stock valued at $34,000 after buying an additional 1,000 shares during the last quarter. Danske Bank A S bought a new stake in Galaxy Digital in the fourth quarter valued at $36,000. Northwestern Mutual Wealth Management Co. bought a new stake in Galaxy Digital in the fourth quarter valued at $46,000. Finally, Itau Unibanco Holding S.A. bought a new stake in Galaxy Digital in the fourth quarter valued at $49,000.

Wall Street Analyst Weigh In

GLXY has been the topic of a number of recent research reports. Citizens Jmp reiterated a “market outperform” rating and issued a $55.00 target price on shares of Galaxy Digital in a research note on Wednesday, April 29th. Weiss Ratings cut Galaxy Digital from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Tuesday, May 26th. Piper Sandler cut their target price on 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 target price on shares of Galaxy Digital in a research note on Thursday, May 21st. Finally, Canaccord Genuity Group restated a “buy” rating and set a $50.00 price objective on shares of Galaxy Digital in a research note on Friday, April 24th. Twelve analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $39.50.

Insider Buying and Selling at Galaxy Digital

In related news, Director Michael D. Daffey sold 250,000 shares of Galaxy Digital stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $28.77, for a total transaction of $7,192,500.00. Following the sale, the director directly owned 1,505,419 shares in the company, valued at $43,310,904.63. The trade was a 14.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 51.53% of the stock is currently owned by corporate insiders.

Galaxy Digital Price Performance

Shares of NASDAQ GLXY opened at $33.36 on Friday. 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 simple moving average is $27.15 and its 200 day simple moving average is $25.26. 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 stock has a market cap of $13.01 billion and a P/E ratio of -69.50.

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

About Galaxy Digital

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.