Galaxy Digital Announces $200 Million Stock Buyback Program
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 05 2024
0mins
Should l Buy GLXY?
Source: Newsfilter
Galaxy Digital's stock rose by 5.61% as it crossed above the 5-day SMA, reflecting positive market sentiment.
The company has announced a $200 million stock buyback program approved by its Board of Directors, set to run from February 12, 2026, to February 11, 2027. This initiative aims to enhance shareholder value and optimize capital structure, indicating the company's confidence in current market conditions. Under the plan, Galaxy intends to repurchase up to 14,798,021 Class A common shares, representing approximately 10% of the public float, which is expected to improve earnings per share and increase shareholder stakes.
This buyback program is anticipated to attract more investor attention to Galaxy Digital's long-term growth potential, enhancing liquidity and bolstering investor confidence amid ongoing market volatility.
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Analyst Views on GLXY
Wall Street analysts forecast GLXY stock price to rise
12 Analyst Rating
11 Buy
1 Hold
0 Sell
Strong Buy
Current: 21.630
Low
24.00
Averages
43.89
High
60.00
Current: 21.630
Low
24.00
Averages
43.89
High
60.00
About GLXY
Galaxy Digital Inc. is engaged in the business of digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence (AI). The Company's digital assets platform offers institutional access to trading, advisory, asset management, staking, self-custody, and tokenization technology. In addition, it develops and operates data center infrastructure to power AI and high-performance computing workloads. The Company's segments include Digital Assets, Data Centers, and Treasury and Corporate. Its Digital Assets operating business segment provides new products and capabilities such as staking, margin-based financing and active exchange-traded funds. The Data Centers segment comprises the Helios infrastructure assets. Its Data Centers segment develops and operates High Performance Computing (HPC) infrastructure to meet the growing demand for large-scale, power-ready facilities in the AI/HPC industry.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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