Bank of New York Mellon Corp Grows Stock Holdings in Marathon Digital Holdings, Inc. $MARA

Bank of New York Mellon Corp increased its position in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 8.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,286,074 shares of the business services provider’s stock after acquiring an additional 177,771 shares during the period. Bank of New York Mellon Corp owned approximately 0.62% of Marathon Digital worth $35,846,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Teacher Retirement System of Texas acquired a new stake in shares of Marathon Digital in the first quarter valued at approximately $566,000. Stratos Wealth Partners LTD. purchased a new stake in shares of Marathon Digital during the first quarter worth about $121,000. M&T Bank Corp grew its stake in Marathon Digital by 16.8% in the 1st quarter. M&T Bank Corp now owns 26,721 shares of the business services provider’s stock worth $308,000 after acquiring an additional 3,840 shares during the period. Xponance Inc. increased its stake in Marathon Digital by 27.1% in the first quarter. Xponance Inc. now owns 26,179 shares of the business services provider’s stock valued at $301,000 after purchasing an additional 5,582 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in Marathon Digital by 13.7% in the 1st quarter. Arizona State Retirement System now owns 97,209 shares of the business services provider’s stock valued at $1,118,000 after buying an additional 11,733 shares during the period. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Digital Trading Down 1.5%

Shares of MARA opened at $14.41 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a 50-day moving average price of $18.03 and a 200 day moving average price of $16.69. The company has a market capitalization of $5.45 billion, a P/E ratio of 12.98 and a beta of 6.40. Marathon Digital Holdings, Inc. has a one year low of $9.81 and a one year high of $30.28.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings results on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.06). The company had revenue of $252.41 million during the quarter, compared to analyst estimates of $254.58 million. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. Sell-side analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MARA. Piper Sandler increased their price objective on shares of Marathon Digital from $23.00 to $26.00 and gave the stock an “overweight” rating in a report on Monday, July 21st. Compass Point assumed coverage on shares of Marathon Digital in a research report on Monday, September 15th. They set a “neutral” rating and a $18.00 price target for the company. Cantor Fitzgerald decreased their price target on shares of Marathon Digital from $30.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Macquarie boosted their price target on Marathon Digital from $26.00 to $29.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Finally, Guggenheim initiated coverage on Marathon Digital in a research note on Tuesday, October 21st. They issued a “neutral” rating on the stock. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.00.

Insider Transactions at Marathon Digital

In related news, General Counsel Zabi Nowaid sold 25,113 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $15.87, for a total transaction of $398,543.31. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction on Friday, October 17th. The stock was sold at an average price of $19.57, for a total transaction of $538,272.85. Following the sale, the chief executive officer directly owned 3,718,700 shares in the company, valued at $72,774,959. This trade represents a 0.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 234,598 shares of company stock valued at $4,096,870 over the last 90 days. Insiders own 0.80% of the company’s stock.

About Marathon Digital

MARA Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.