SG Americas Securities LLC Takes Position in Galaxy Digital Inc. $GLXY

SG Americas Securities LLC purchased a new position in shares of Galaxy Digital Inc. (NASDAQ:GLXY) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 92,253 shares of the company’s stock, valued at approximately $3,119,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GLXY. CWM LLC raised its holdings in Galaxy Digital by 20.8% in the 3rd quarter. CWM LLC now owns 1,419 shares of the company’s stock valued at $48,000 after buying an additional 244 shares during the last quarter. North Star Investment Management Corp. acquired a new position in Galaxy Digital in the 3rd quarter valued at approximately $34,000. Manchester Capital Management LLC bought a new position in shares of Galaxy Digital during the second quarter valued at $32,000. Centerpoint Advisors LLC bought a new position in shares of Galaxy Digital during the second quarter valued at $33,000. Finally, Global Retirement Partners LLC lifted its holdings in shares of Galaxy Digital by 397.4% during the third quarter. Global Retirement Partners LLC now owns 1,890 shares of the company’s stock worth $64,000 after purchasing an additional 1,510 shares during the period.

Analyst Ratings Changes

Several brokerages recently issued reports on GLXY. Piper Sandler raised their target price on Galaxy Digital from $36.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Galaxy Digital in a research note on Monday, December 29th. Citigroup started coverage on Galaxy Digital in a research note on Tuesday, December 9th. They issued an “outperform” rating on the stock. Canaccord Genuity Group increased their target price on shares of Galaxy Digital from $34.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Finally, Morgan Stanley began coverage on shares of Galaxy Digital in a report on Thursday, November 6th. They set an “overweight” rating and a $42.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $46.00.

Insiders Place Their Bets

In other Galaxy Digital news, Director Douglas R. Deason bought 10,000 shares of the stock in a transaction on Friday, November 7th. The stock was acquired at an average cost of $29.59 per share, for a total transaction of $295,900.00. Following the completion of the acquisition, the director owned 10,000 shares in the company, valued at $295,900. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

Galaxy Digital Stock Up 2.2%

Shares of NASDAQ:GLXY opened at $25.49 on Tuesday. The company has a market capitalization of $9.96 billion and a price-to-earnings ratio of 21.24. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.35 and a quick ratio of 1.35. The business’s 50-day moving average is $26.12 and its 200-day moving average is $28.50. Galaxy Digital Inc. has a 1 year low of $8.20 and a 1 year high of $45.92.

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.