Hsbc Holdings PLC Invests $958,000 in Galaxy Digital Inc. $GLXY

Hsbc Holdings PLC acquired a new position in Galaxy Digital Inc. (NASDAQ:GLXY) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 42,610 shares of the company’s stock, valued at approximately $958,000.

Several other large investors also recently added to or reduced their stakes in the business. 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 worth $663,000 after buying an additional 411 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Galaxy Digital by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 52,879 shares of the company’s stock valued at $1,182,000 after acquiring an additional 666 shares in the last quarter. Main Management ETF Advisors LLC raised its holdings in shares of Galaxy Digital by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 71,253 shares of the company’s stock valued at $1,593,000 after acquiring an additional 728 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Galaxy Digital by 2.3% during the 4th quarter. Cetera Investment Advisers now owns 32,963 shares of the company’s stock valued at $737,000 after acquiring an additional 742 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its position in shares of Galaxy Digital by 6.7% during the 3rd 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.

Galaxy Digital Price Performance

Shares of Galaxy Digital stock 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 company has a fifty day moving average of $29.31 and a 200-day moving average of $25.64. The stock has a market capitalization of $9.10 billion, a price-to-earnings ratio of -48.64 and a beta of 4.84.

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

Insider Activity

In other news, Director Michael D. Daffey sold 250,000 shares of Galaxy Digital stock in a transaction dated 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. The trade was a 14.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 51.53% of the company’s stock.

Analyst Ratings Changes

GLXY has been the subject of several recent analyst reports. BTIG Research reissued a “buy” rating and set a $50.00 price objective on shares of Galaxy Digital in a report on Thursday, May 21st. Piper Sandler dropped their target price on shares of Galaxy Digital from $42.00 to $36.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. Morgan Stanley reissued an “overweight” rating and issued a $37.00 price target on shares of Galaxy Digital in a research note on Wednesday, April 29th. Canaccord Genuity Group reissued a “buy” rating and issued a $50.00 price target on shares of Galaxy Digital in a report on Friday, April 24th. Finally, Wall Street Zen upgraded shares of Galaxy Digital from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 2nd. Twelve analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $39.50.

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.