GTS Securities LLC Makes New Investment in Galaxy Digital Inc. $GLXY

GTS Securities LLC bought a new position in Galaxy Digital Inc. (NASDAQ:GLXY) during the second quarter, HoldingsChannel.com reports. The fund bought 40,915 shares of the company’s stock, valued at approximately $1,119,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. bought a new position in shares of Galaxy Digital during the second quarter valued at $30,000. Caitong International Asset Management Co. Ltd boosted its stake in Galaxy Digital by 183.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,434 shares of the company’s stock worth $32,000 after purchasing an additional 928 shares in the last quarter. Picton Mahoney Asset Management grew its position in 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 during the last quarter. Danske Bank A S bought a new stake in Galaxy Digital during the 4th quarter valued at about $36,000. Finally, Itau Unibanco Holding S.A. purchased a new position in Galaxy Digital in the fourth quarter worth about $49,000.

Insider Buying and Selling at Galaxy Digital

In other news, Director Steven John Bandrowczak acquired 5,100 shares of Galaxy Digital stock in a transaction that occurred on Monday, August 10th. The stock was bought at an average price of $19.63 per share, for a total transaction of $100,113.00. Following the completion of the transaction, the director owned 39,186 shares in the company, valued at $769,221.18. The trade was a 14.96% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Douglas R. Deason bought 12,000 shares of the stock in a transaction on Wednesday, August 12th. The stock was purchased at an average cost of $21.54 per share, for a total transaction of $258,480.00. Following the acquisition, the director owned 71,000 shares of the company’s stock, valued at $1,529,340. This trade represents a 20.34% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 51.53% of the company’s stock.

Galaxy Digital Trading Down 8.2%

NASDAQ:GLXY opened at $23.21 on Friday. The company has a market cap of $9.07 billion, a PE ratio of -35.71 and a beta of 5.06. 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 company has a 50 day simple moving average of $23.72 and a two-hundred day simple moving average of $24.57. Galaxy Digital Inc. has a 12 month low of $16.43 and a 12 month high of $45.92.

Galaxy Digital (NASDAQ:GLXY) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.27. The firm had revenue of $8.71 billion for the quarter. Galaxy Digital had a negative return on equity of 6.25% and a negative net margin of 0.75%.During the same period in the previous year, the company earned $0.08 earnings per share. Research analysts forecast that Galaxy Digital Inc. will post -0.82 earnings per share for the current year.

Analysts Set New Price Targets

GLXY has been the subject of several analyst reports. Zacks Research downgraded shares of Galaxy Digital from a “hold” rating to a “strong sell” rating in a research report on Monday, July 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Galaxy Digital in a report on Friday, August 21st. Rosenblatt Securities lowered their price objective on Galaxy Digital from $39.00 to $35.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Piper Sandler cut their target price on Galaxy Digital from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Friday, July 17th. Finally, Wall Street Zen upgraded Galaxy Digital from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 2nd. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.67.

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.