Anson Funds Management LP Invests $11.07 Million in Galaxy Digital Inc. $GLXY

Key Points

• Anson Funds Management acquired 600,000 Galaxy Digital shares worth approximately $11.07 million, making up about 1% of its portfolio and 0.15% of Galaxy Digital’s outstanding shares.
• Analyst sentiment remains generally positive, with 11 Buy ratings, two Holds and two Sells; the consensus rating is “Moderate Buy” with a $39.62 price target.
• Galaxy Digital reported a quarterly loss of $0.49 per share, better than the expected $0.59 loss, while the stock opened at $18.26 and remained well below its 52-week high of $45.92.

Anson Funds Management LP acquired a new stake in shares of Galaxy Digital Inc. (NASDAQ:GLXY - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 600,000 shares of the company's stock, valued at approximately $11,070,000. Galaxy Digital makes up about 1.0% of Anson Funds Management LP's holdings, making the stock its 25th largest position. Anson Funds Management LP owned 0.15% of Galaxy Digital at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GLXY. Janus Henderson Group PLC raised its position in shares of Galaxy Digital by 22.1% during the 1st quarter. Janus Henderson Group PLC now owns 89,981 shares of the company's stock valued at $1,661,000 after purchasing an additional 16,300 shares during the period. Amundi boosted its holdings in Galaxy Digital by 57.0% in the 1st quarter. Amundi now owns 23,399 shares of the company's stock worth $432,000 after buying an additional 8,499 shares during the period. California State Teachers Retirement System increased its stake in Galaxy Digital by 36.1% in the 1st quarter. California State Teachers Retirement System now owns 214,273 shares of the company's stock worth $3,953,000 after buying an additional 56,867 shares in the last quarter. Riposte Capital LLC purchased a new stake in Galaxy Digital in the 1st quarter worth $2,952,000. Finally, Royal Bank of Canada increased its stake in Galaxy Digital by 2.9% in the 1st quarter. Royal Bank of Canada now owns 206,354 shares of the company's stock worth $3,808,000 after buying an additional 5,838 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on GLXY shares. Wall Street Zen upgraded Galaxy Digital from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 2nd. Cantor Fitzgerald reissued an "overweight" rating and issued a $30.00 price target on shares of Galaxy Digital in a report on Friday, May 1st. Canaccord Genuity Group restated a "buy" rating and issued a $50.00 price target on shares of Galaxy Digital in a research note on Friday, April 24th. The Goldman Sachs Group cut their price objective on shares of Galaxy Digital from $24.00 to $21.00 and set a "neutral" rating for the company in a report on Wednesday, April 8th. Finally, Weiss Ratings cut shares of Galaxy Digital from a "sell (d+)" rating to a "sell (d-)" rating in a research report on Tuesday, May 26th. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $39.62.

Galaxy Digital Price Performance

GLXY opened at $18.26 on Thursday. The business has a fifty day moving average of $27.63 and a 200 day moving average of $25.54. The stock has a market cap of $7.12 billion, a P/E ratio of -38.04 and a beta of 4.84. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.94. Galaxy Digital Inc. has a 52-week low of $16.43 and a 52-week high of $45.92.

Galaxy Digital (NASDAQ:GLXY - Get Free Report) last released its earnings results on Tuesday, April 28th. The company reported ($0.49) earnings per share for the quarter, topping analysts' consensus estimates of ($0.59) by $0.10. Galaxy Digital had a negative return on equity of 2.30% and a negative net margin of 0.54%.The business had revenue of $10.21 billion for the quarter. During the same quarter in the previous year, the business earned ($0.86) EPS. As a group, sell-side analysts anticipate that Galaxy Digital Inc. will post -0.5 EPS for the current year.

Insider Transactions at Galaxy Digital

In other news, Director Michael D. Daffey sold 250,000 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $28.77, for a total transaction of $7,192,500.00. Following the transaction, the director directly owned 1,505,419 shares of the company's stock, valued at approximately $43,310,904.63. This trade represents a 14.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 51.53% of the stock is currently owned by company insiders.

About Galaxy Digital

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.

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