Bayshore Capital Advisors LLC Takes Position in Galaxy Digital Inc. $GLXY

Bayshore Capital Advisors LLC purchased a new stake in shares of Galaxy Digital Inc. (NASDAQ:GLXY) during the fourth quarter, Holdings Channel.com reports. The firm purchased 156,705 shares of the company’s stock, valued at approximately $3,504,000. Galaxy Digital comprises 1.7% of Bayshore Capital Advisors LLC’s portfolio, making the stock its 8th biggest holding.

A number of other large investors have also made changes to their positions in the company. CWM LLC raised its holdings in shares of Galaxy Digital by 20.8% during the third quarter. CWM LLC now owns 1,419 shares of the company’s stock valued at $48,000 after acquiring an additional 244 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Galaxy Digital by 2.1% during the third quarter. Victory Capital Management Inc. now owns 19,596 shares of the company’s stock valued at $663,000 after acquiring an additional 411 shares during the period. Belpointe Asset Management LLC raised its holdings in shares of Galaxy Digital by 6.8% during the third quarter. Belpointe Asset Management LLC now owns 13,641 shares of the company’s stock valued at $461,000 after acquiring an additional 867 shares during the period. Raymond James Financial Inc. raised its holdings in shares of Galaxy Digital by 6.7% during the third 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 period. Finally, Global Retirement Partners LLC raised 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 valued at $64,000 after acquiring an additional 1,510 shares during the period.

Galaxy Digital Stock Down 1.8%

Galaxy Digital stock opened at $30.81 on Thursday. The firm has a market cap of $11.99 billion and a PE ratio of -64.19. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.60 and a current ratio of 1.70. The firm’s 50 day moving average price is $23.31 and its two-hundred day moving average price is $25.45. Galaxy Digital Inc. has a twelve month low of $16.43 and a twelve month high of $45.92.

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GLXY. Weiss Ratings lowered shares of Galaxy Digital from a “hold (c)” rating to a “sell (d+)” rating in a report on Thursday, March 5th. Morgan Stanley restated an “overweight” rating and set a $37.00 price target on shares of Galaxy Digital in a report on Wednesday, April 29th. The Goldman Sachs Group dropped their price objective on shares of Galaxy Digital from $24.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 8th. Citigroup upped their price objective on shares of Galaxy Digital from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Wednesday, March 18th. Finally, HC Wainwright dropped their price objective on shares of Galaxy Digital from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $39.50.

Galaxy Digital Company 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.