Simplicity Wealth LLC Invests $943,000 in Marathon Digital Holdings, Inc. $MARA

Simplicity Wealth LLC bought a new position in Marathon Digital Holdings, Inc. (NASDAQ:MARA) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 51,620 shares of the business services provider’s stock, valued at approximately $943,000.

Other large investors have also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC grew its position in Marathon Digital by 9.8% in the first quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider’s stock worth $127,000 after buying an additional 991 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Marathon Digital by 65.3% during the 1st quarter. NewEdge Advisors LLC now owns 7,672 shares of the business services provider’s stock worth $88,000 after acquiring an additional 3,032 shares in the last quarter. United Services Automobile Association grew its holdings in shares of Marathon Digital by 8.2% in the 1st quarter. United Services Automobile Association now owns 20,634 shares of the business services provider’s stock worth $257,000 after acquiring an additional 1,569 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Marathon Digital by 11.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 643,311 shares of the business services provider’s stock worth $7,398,000 after purchasing an additional 63,903 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Marathon Digital by 37.1% during the second quarter. GAMMA Investing LLC now owns 12,372 shares of the business services provider’s stock valued at $194,000 after purchasing an additional 3,348 shares during the last quarter. 44.53% of the stock is currently owned by institutional investors.

Insider Activity

In other news, General Counsel Zabi Nowaid sold 25,113 shares of the company’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 directly owned 723,136 shares of the company’s stock, valued at approximately $11,476,168.32. This represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $10.80, for a total value of $297,054.00. Following the sale, the chief executive officer owned 3,517,566 shares of the company’s stock, valued at approximately $37,989,712.80. This represents a 0.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 182,979 shares of company stock worth $2,234,934 in the last ninety days. Corporate insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

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

Marathon Digital Price Performance

Shares of MARA opened at $10.50 on Friday. The business’s 50-day moving average is $10.75 and its 200-day moving average is $15.07. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.09 and a quick ratio of 2.09. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of 5.83 and a beta of 5.34. Marathon Digital Holdings, Inc. has a fifty-two week low of $8.95 and a fifty-two week high of $23.45.

Marathon Digital (NASDAQ:MARA) last announced 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). The company had revenue of $252.41 million for the quarter, compared to analysts’ expectations of $254.58 million. Marathon Digital had a net margin of 100.82% and a negative return on equity of 2.59%. Equities research analysts expect that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

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.