Dimensional Fund Advisors LP Takes Position in Marathon Digital Holdings, Inc. $MARA

Dimensional Fund Advisors LP acquired a new stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 104,251 shares of the business services provider’s stock, valued at approximately $851,000.

Other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA acquired a new position in Marathon Digital during the 4th quarter valued at approximately $10,201,000. New York State Teachers Retirement System increased its position in 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 buying an additional 95,970 shares during the period. Vanguard Group Inc. lifted its stake in 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 valued at $419,422,000 after buying an additional 1,394,559 shares during the last quarter. Handelsbanken Fonder AB bought a new stake in Marathon Digital in the fourth quarter valued at $831,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Marathon Digital during the fourth quarter valued at $5,220,000. Institutional investors own 44.53% of the company’s stock.

Insider Activity at Marathon Digital

In other Marathon Digital news, Director Douglas K. Mellinger sold 7,000 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $16.00, for a total value of $112,000.00. Following the completion of the sale, the director owned 231,618 shares in the company, valued at $3,705,888. This represents a 2.93% decrease in their position. The transaction was disclosed in a 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, CFO Salman Hassan Khan sold 16,000 shares of Marathon Digital stock in a transaction on Monday, May 18th. The shares were sold at an average price of $12.00, for a total value of $192,000.00. Following the sale, the chief financial officer directly owned 425,066 shares of the company’s stock, valued at approximately $5,100,792. The trade was a 3.63% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 in the last 90 days. 0.97% of the stock is owned by corporate insiders.

Marathon Digital Stock Performance

Shares of Marathon Digital stock opened at $9.20 on Friday. The stock has a market cap of $3.55 billion, a PE ratio of -1.00 and a beta of 5.40. The business has a fifty day simple moving average of $12.37 and a 200-day simple moving average of $10.99. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.15. Marathon Digital Holdings, Inc. has a 12 month low of $6.66 and a 12 month high of $23.45.

Marathon Digital (NASDAQ:MARA) last posted 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). The business had revenue of $174.88 million for the quarter, compared to analyst estimates of $209.44 million. Marathon Digital had a negative net margin of 429.71% and a negative return on equity of 26.05%. The firm’s quarterly revenue was down 26.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.84 earnings per share. On average, sell-side analysts anticipate that Marathon Digital Holdings, Inc. will post -2.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Rosenblatt Securities restated a “buy” rating and set a $15.00 price target on shares of Marathon Digital in a research report on Friday, August 7th. Morgan Stanley lifted their price objective on shares of Marathon Digital from $5.50 to $6.00 and gave the company an “underweight” rating in a research report on Thursday. Piper Sandler reduced their target price on shares of Marathon Digital from $16.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, July 17th. Cantor Fitzgerald decreased their target price on shares of Marathon Digital from $14.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. Finally, BTIG Research restated a “buy” rating and issued a $27.00 price target on shares of Marathon Digital in a research note on Monday, June 1st. Eight equities research analysts have rated the stock with a Buy rating, two have issued 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 $18.78.

Marathon Digital Company 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.