AMG National Trust Bank Purchases New Stake in Galaxy Digital Inc. $GLXY

AMG National Trust Bank purchased a new stake in shares of Galaxy Digital Inc. (NASDAQ:GLXY) in the 1st quarter, Holdings Channel reports. The fund purchased 35,600 shares of the company’s stock, valued at approximately $657,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Galaxy Digital by 27.5% during the fourth quarter. Vanguard Group Inc. now owns 20,669,893 shares of the company’s stock worth $462,310,000 after purchasing an additional 4,463,782 shares during the period. Capital Research Global Investors acquired a new position in Galaxy Digital in the 4th quarter valued at $406,102,000. Invesco Ltd. increased its position in Galaxy Digital by 31.1% during the 4th quarter. Invesco Ltd. now owns 3,082,187 shares of the company’s stock worth $68,918,000 after buying an additional 731,215 shares during the period. Geode Capital Management LLC increased its position in Galaxy Digital by 13.0% during the 4th quarter. Geode Capital Management LLC now owns 2,433,242 shares of the company’s stock worth $54,424,000 after buying an additional 279,818 shares during the period. Finally, Tidal Investments LLC bought a new position in Galaxy Digital during the 2nd quarter worth $48,452,000.

Galaxy Digital Price Performance

Shares of NASDAQ:GLXY opened at $24.58 on Thursday. The firm has a 50 day moving average of $29.06 and a 200-day moving average of $25.64. Galaxy Digital Inc. has a 12 month low of $16.43 and a 12 month high of $45.92. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $9.58 billion, a PE ratio of -51.21 and a beta of 4.84.

Galaxy Digital (NASDAQ:GLXY) last posted its quarterly earnings results on Tuesday, April 28th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.10. The business 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 prior year, the business posted ($0.86) EPS. On average, equities research analysts predict that Galaxy Digital Inc. will post -0.32 EPS for the current fiscal year.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $50.00 target price on shares of Galaxy Digital in a research report on Friday, April 24th. The Goldman Sachs Group lowered their price target on shares of Galaxy Digital from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 8th. Citigroup lifted their price objective on shares of Galaxy Digital from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 price objective on shares of Galaxy Digital in a report on Friday, May 1st. Finally, BTIG Research restated a “buy” rating and set a $50.00 target price on shares of Galaxy Digital in a research report on Thursday, May 21st. Twelve equities research 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’s stock. According to data from MarketBeat.com, Galaxy Digital presently has a consensus 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.