Edgestream Partners L.P. Makes New Investment in Marathon Digital Holdings, Inc. $MARA

Edgestream Partners L.P. bought a new position in Marathon Digital Holdings, Inc. (NASDAQ:MARA) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 350,934 shares of the business services provider’s stock, valued at approximately $2,864,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Ascentis Independent Advisors acquired a new position in shares of Marathon Digital during the first quarter worth about $28,000. Bogart Wealth LLC raised its holdings in Marathon Digital by 4,345.1% during the first quarter. Bogart Wealth LLC now owns 4,045 shares of the business services provider’s stock worth $33,000 after purchasing an additional 3,954 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in Marathon Digital in the fourth quarter valued at about $36,000. Hantz Financial Services Inc. lifted its position in Marathon Digital by 344.8% in the fourth quarter. Hantz Financial Services Inc. now owns 5,022 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 3,893 shares during the period. Finally, Danske Bank A S boosted its holdings in Marathon Digital by 93.3% in the 4th quarter. Danske Bank A S now owns 5,800 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 2,800 shares in the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Marathon Digital Stock Down 4.2%

MARA stock opened at $11.32 on Friday. The company has a market cap of $4.32 billion, a P/E ratio of -1.98 and a beta of 5.36. Marathon Digital Holdings, Inc. has a 52 week low of $6.66 and a 52 week high of $23.45. The company’s 50-day moving average price is $13.12 and its 200 day moving average price is $11.02. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.99.

Wall Street Analysts Forecast Growth

MARA has been the topic of several recent analyst reports. Citizens Jmp initiated coverage on Marathon Digital in a research report on Wednesday, June 24th. They set a “market outperform” rating and a $24.00 target price on the stock. Cantor Fitzgerald reduced their price target on Marathon Digital from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Piper Sandler decreased their price target on Marathon Digital from $16.00 to $13.00 and set an “overweight” rating on the stock in a research note on Friday, July 17th. BTIG Research reaffirmed a “buy” rating and set a $27.00 price objective on shares of Marathon Digital in a report on Monday, June 1st. Finally, Weiss Ratings cut Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, May 12th. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Marathon Digital currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.50.

Insider Activity at Marathon Digital

In other news, CFO Salman Hassan Khan sold 16,000 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $12.00, for a total transaction of $192,000.00. Following the sale, the chief financial officer owned 425,066 shares of the company’s stock, valued at $5,100,792. The trade was a 3.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $14.25, for a total value of $391,946.25. Following the completion of the sale, the chief executive officer owned 4,562,009 shares in the company, valued at approximately $65,008,628.25. This represents a 0.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 109,260 shares of company stock valued at $1,452,756. 0.97% of the stock is currently owned by corporate insiders.

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.