Pillsbury Lake Capital LLC Makes New $4.59 Million Investment in Galaxy Digital Inc. $GLXY

Pillsbury Lake Capital LLC purchased a new position in shares of Galaxy Digital Inc. (NASDAQ:GLXY) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 167,836 shares of the company’s stock, valued at approximately $4,589,000.

Several other hedge funds have also added to or reduced their stakes in GLXY. Bank of America Corp DE lifted its holdings in Galaxy Digital by 112.4% during the second quarter. Bank of America Corp DE now owns 1,145,172 shares of the company’s stock worth $31,309,000 after acquiring an additional 605,986 shares in the last quarter. AWM Investment Company Inc. acquired a new stake in shares of Galaxy Digital during the second quarter worth about $12,221,000. Ninepoint Partners LP bought a new position in shares of Galaxy Digital during the 2nd quarter valued at about $802,000. Doliver Advisors LP acquired a new position in shares of Galaxy Digital in the 2nd quarter valued at approximately $208,000. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in shares of Galaxy Digital in the 2nd quarter valued at approximately $440,000.

Insiders Place Their Bets

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

Galaxy Digital Stock Performance

GLXY opened at $24.64 on Thursday. The business’s 50-day simple moving average is $24.12 and its 200 day simple moving average is $24.54. Galaxy Digital Inc. has a 52-week low of $16.43 and a 52-week high of $45.92. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.50 and a current ratio of 1.50. The firm has a market capitalization of $9.63 billion, a PE ratio of -37.91 and a beta of 5.06.

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on GLXY shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Galaxy Digital in a research note on Friday, August 21st. BTIG Research cut their price objective on shares of Galaxy Digital from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, August 5th. Wall Street Zen raised shares of Galaxy Digital from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 2nd. Rosenblatt Securities lowered their target price on Galaxy Digital from $39.00 to $35.00 and set a “buy” rating for the company in a report on Monday, August 3rd. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 price target on shares of Galaxy Digital in a report on Friday, May 1st. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Galaxy Digital has an average rating of “Moderate Buy” and a consensus target price of $38.67.

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.