Mutual Advisors LLC Takes $1.77 Million Position in Marathon Digital Holdings, Inc. $MARA

Mutual Advisors LLC acquired a new position in Marathon Digital Holdings, Inc. (NASDAQ:MARA) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 92,148 shares of the business services provider’s stock, valued at approximately $1,771,000.

A number of other large investors have also recently added to or reduced their stakes in MARA. Marex Group plc acquired a new position in Marathon Digital during the second quarter worth about $84,301,000. Norges Bank purchased a new position in shares of Marathon Digital during the 2nd quarter worth approximately $59,255,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of Marathon Digital by 144.1% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,003,747 shares of the business services provider’s stock worth $15,739,000 after purchasing an additional 592,493 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its stake in Marathon Digital by 259.1% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 709,473 shares of the business services provider’s stock valued at $12,955,000 after buying an additional 511,879 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in Marathon Digital by 7.8% during the 2nd quarter. American Century Companies Inc. now owns 6,781,198 shares of the business services provider’s stock valued at $106,329,000 after buying an additional 491,245 shares during the last quarter. 44.53% of the stock is owned by institutional investors and hedge funds.

Marathon Digital Price Performance

MARA stock opened at $9.05 on Wednesday. The company has a market cap of $3.42 billion, a PE ratio of 5.03 and a beta of 5.56. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.63. The stock has a 50-day moving average price of $10.58 and a two-hundred day moving average price of $14.56. Marathon Digital Holdings, Inc. has a 12-month low of $8.51 and a 12-month high of $23.45.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings data on Tuesday, November 4th. The business services provider reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.06). Marathon Digital had a negative return on equity of 2.59% and a net margin of 100.82%.The firm had revenue of $252.41 million during the quarter, compared to analysts’ expectations of $254.58 million. As a group, research analysts predict that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Insider Activity at Marathon Digital

In other news, General Counsel Zabi Nowaid sold 25,113 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $15.87, for a total value of $398,543.31. Following the transaction, the general counsel owned 723,136 shares of the company’s stock, valued at approximately $11,476,168.32. This trade represents a 3.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Salman Hassan Khan sold 34,732 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $11.99, for a total transaction of $416,436.68. Following the sale, the chief financial officer directly owned 283,298 shares of the company’s stock, valued at approximately $3,396,743.02. This trade represents a 10.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 182,979 shares of company stock worth $2,234,934. Company insiders own 0.80% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MARA. Rosenblatt Securities cut their price target on Marathon Digital from $25.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. JPMorgan Chase & Co. lowered their target price on shares of Marathon Digital from $20.00 to $13.00 and set an “overweight” rating for the company in a research note on Monday, November 24th. Piper Sandler decreased their price objective on Marathon Digital from $26.00 to $16.00 and set an “overweight” rating on the stock in a report on Wednesday, January 14th. Guggenheim assumed coverage on Marathon Digital in a research note on Tuesday, October 21st. They issued a “neutral” rating for the company. Finally, Compass Point upgraded Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Monday, November 24th. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.44.

About Marathon Digital

Marathon Digital Holdings, Inc is a digital asset technology company specializing in the mining and acquisition of bitcoin. Headquartered in Las Vegas, Nevada, the firm employs high-performance application-specific integrated circuit (ASIC) miners and proprietary software to secure the Bitcoin network and expand its crypto-mining footprint. Marathon Digital focuses on operational efficiency and scalability, while maintaining rigorous standards for regulatory compliance and corporate governance.

The company operates multiple large-scale mining facilities throughout North America, including sites in Texas, Montana and New York.