Galaxy Digital Inc. $GLXY Holdings Lifted by Squarepoint Ops LLC

Squarepoint Ops LLC increased its position in shares of Galaxy Digital Inc. (NASDAQ:GLXY) by 67.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 144,335 shares of the company’s stock after acquiring an additional 58,161 shares during the period. Squarepoint Ops LLC’s holdings in Galaxy Digital were worth $3,946,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. bought a new stake in Galaxy Digital in the second quarter worth about $30,000. Caitong International Asset Management Co. Ltd boosted its position in shares of 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 purchasing an additional 928 shares in the last quarter. Picton Mahoney Asset Management boosted its position in shares of Galaxy Digital by 200.0% during 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 in the last quarter. Hollencrest Capital Management grew its stake in shares of Galaxy Digital by 204.0% in the 1st quarter. Hollencrest Capital Management now owns 2,584 shares of the company’s stock worth $48,000 after purchasing an additional 1,734 shares during the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Galaxy Digital in the 4th quarter worth approximately $49,000.

Analysts Set New Price Targets

Several analysts recently commented on the stock. BTIG Research cut their target price on shares of Galaxy Digital from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Rosenblatt Securities reduced their target price on shares of Galaxy Digital from $39.00 to $35.00 and set a “buy” rating for the company in a report on Monday, August 3rd. Zacks Research lowered shares of Galaxy Digital from a “hold” rating to a “strong sell” rating in a research report on Monday, July 20th. Morgan Stanley upped their price target on Galaxy Digital from $37.00 to $48.00 and gave the company an “overweight” rating in a report on Thursday, September 3rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Galaxy Digital in a research report on Friday, August 21st. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $39.58.

Galaxy Digital Trading Up 1.1%

Shares of GLXY opened at $24.40 on Friday. The business’s 50-day moving average price is $23.13 and its 200 day moving average price is $24.85. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $9.54 billion, a P/E ratio of -37.54 and a beta of 5.10. Galaxy Digital Inc. has a 1-year low of $16.43 and a 1-year high of $45.92.

Galaxy Digital (NASDAQ:GLXY) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.27. Galaxy Digital had a negative net margin of 0.75% and a negative return on equity of 6.25%. The company had revenue of $8.71 billion during the quarter. During the same period in the prior year, the company posted $0.08 earnings per share. Analysts expect that Galaxy Digital Inc. will post -0.79 earnings per share for the current year.

Insider Activity

In other news, Director Steven Bandrowczak acquired 5,100 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was purchased at an average price of $19.63 per share, with a total value of $100,113.00. Following the purchase, the director owned 39,186 shares of the company’s stock, valued at approximately $769,221.18. This trade represents a 14.96% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Matthew W. Friedrich sold 4,993 shares of Galaxy Digital stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $27.03, for a total transaction of $134,960.79. Following the transaction, the insider owned 275,782 shares in the company, valued at approximately $7,454,387.46. The trade was a 1.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 51.53% of the stock is owned by company insiders.

Galaxy Digital Company Profile

Galaxy Digital Holdings Ltd. (NASDAQ: GLXY) is a financial services and technology company focused on the digital asset and blockchain ecosystem. Founded in 2018 by Michael Novogratz, the company provides institutions, entrepreneurs and other market participants with access to a range of cryptocurrency-related financial products and services.

Galaxy’s business activities include investment banking, trading and liquidity provision, asset management, and digital infrastructure. Its services may include capital raising and strategic advisory, over-the-counter and electronic trading, derivatives and other market-related activities, investment products, and infrastructure supporting blockchain networks and digital asset operations.

The company serves clients across global digital asset markets, with operations and business relationships spanning North America and other international financial centers.