Quantinno Capital Management LP Grows Stock Position in Marathon Digital Holdings, Inc. $MARA

Quantinno Capital Management LP lifted its holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 315.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 166,571 shares of the business services provider’s stock after purchasing an additional 126,482 shares during the period. Quantinno Capital Management LP’s holdings in Marathon Digital were worth $1,359,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA purchased a new stake in shares of Marathon Digital in the 4th quarter worth $10,201,000. New York State Teachers Retirement System boosted its position in shares of Marathon Digital by 28.9% in the fourth quarter. New York State Teachers Retirement System now owns 427,726 shares of the business services provider’s stock worth $3,841,000 after purchasing an additional 95,970 shares during the period. Vanguard Group Inc. increased its stake in shares of Marathon Digital by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 46,706,277 shares of the business services provider’s stock worth $419,422,000 after purchasing an additional 1,394,559 shares in the last quarter. Handelsbanken Fonder AB bought a new stake in shares of Marathon Digital during the 4th quarter valued at $831,000. Finally, Intech Investment Management LLC raised its position in shares of Marathon Digital by 56.2% during the 4th quarter. Intech Investment Management LLC now owns 213,066 shares of the business services provider’s stock valued at $1,913,000 after purchasing an additional 76,670 shares during the period. 44.53% of the stock is currently owned by institutional investors.

Insider Activity

In other Marathon Digital news, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were 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 of the company’s stock, valued at $65,008,628.25. This trade represents a 0.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Zabi Nowaid sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $14.25, for a total transaction of $99,750.00. Following the completion of the sale, the general counsel directly owned 963,768 shares of the company’s stock, valued at approximately $13,733,694. The trade was a 0.72% 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. Insiders have sold a total of 109,260 shares of company stock worth $1,452,756 over the last 90 days. Insiders own 0.97% of the company’s stock.

Marathon Digital Stock Performance

NASDAQ MARA opened at $9.21 on Friday. The company has a market cap of $3.56 billion, a P/E ratio of -1.01 and a beta of 5.40. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.89 and a current ratio of 0.89. The business’s 50 day moving average price is $12.44 and its 200-day moving average price is $11.00. Marathon Digital Holdings, Inc. has a fifty-two week low of $6.66 and a fifty-two week high of $23.45.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings results on Thursday, August 6th. The business services provider reported ($1.60) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($1.77). Marathon Digital had a negative net margin of 429.71% and a negative return on equity of 26.05%. The company had revenue of $174.88 million for the quarter, compared to analysts’ expectations of $209.44 million. During the same quarter in the previous year, the company posted $1.84 EPS. The business’s quarterly revenue was down 26.7% on a year-over-year basis. Sell-side analysts predict that Marathon Digital Holdings, Inc. will post -2.28 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on MARA shares. Cantor Fitzgerald dropped their target price on shares of Marathon Digital from $14.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Marathon Digital in a research report on Friday, August 7th. BTIG Research reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Marathon Digital in a research note on Monday, June 1st. Morgan Stanley increased their target price on Marathon Digital from $5.50 to $6.00 and gave the stock an “underweight” rating in a research report on Thursday. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $15.00 price target on shares of Marathon Digital in a report on Friday, August 7th. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $18.78.

Marathon Digital Profile

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.