Matauro LLC Acquires 76,031 Shares of Marathon Digital Holdings, Inc. $MARA

Matauro LLC increased its holdings in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 26.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 365,197 shares of the business services provider’s stock after acquiring an additional 76,031 shares during the period. Marathon Digital accounts for approximately 1.1% of Matauro LLC’s portfolio, making the stock its 20th biggest position. Matauro LLC’s holdings in Marathon Digital were worth $6,668,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MARA. Nuveen LLC acquired a new position in shares of Marathon Digital during the 1st quarter worth about $11,514,000. Kovitz Investment Group Partners LLC raised its holdings in Marathon Digital by 34.4% during the first quarter. Kovitz Investment Group Partners LLC now owns 18,954 shares of the business services provider’s stock worth $218,000 after acquiring an additional 4,853 shares in the last quarter. Cresset Asset Management LLC raised its holdings in Marathon Digital by 37.8% during the first quarter. Cresset Asset Management LLC now owns 63,847 shares of the business services provider’s stock worth $734,000 after acquiring an additional 17,512 shares in the last quarter. Northern Trust Corp boosted its position in Marathon Digital by 7.2% during the first quarter. Northern Trust Corp now owns 3,529,782 shares of the business services provider’s stock valued at $40,592,000 after purchasing an additional 236,251 shares during the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. grew its stake in Marathon Digital by 30.8% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 117,167 shares of the business services provider’s stock valued at $1,398,000 after purchasing an additional 27,584 shares in the last quarter. 44.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MARA shares. Rosenblatt Securities dropped their price objective on Marathon Digital from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. BTIG Research restated a “buy” rating and set a $27.00 target price on shares of Marathon Digital in a report on Friday, September 5th. Macquarie upped their price target on shares of Marathon Digital from $26.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. decreased their price objective on shares of Marathon Digital from $20.00 to $13.00 and set an “overweight” rating for the company in a research report on Monday, November 24th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Marathon Digital in a research note on Monday. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Marathon Digital currently has an average rating of “Moderate Buy” and a consensus price target of $23.56.

Insider Activity

In related news, General Counsel Zabi Nowaid sold 25,113 shares of the business’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $15.87, for a total value of $398,543.31. Following the completion of the sale, the general counsel directly owned 723,136 shares in the company, valued at $11,476,168.32. The trade was a 3.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Salman Hassan Khan sold 34,732 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $11.99, for a total value of $416,436.68. Following the completion of the transaction, the chief financial officer directly owned 283,298 shares in the company, valued at approximately $3,396,743.02. This represents a 10.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 218,711 shares of company stock valued at $3,286,669. 0.80% of the stock is owned by insiders.

Marathon Digital Price Performance

Shares of MARA opened at $10.18 on Friday. The company’s 50-day moving average is $14.64 and its 200-day moving average is $16.01. 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 firm has a market capitalization of $3.85 billion, a PE ratio of 5.66 and a beta of 5.42. Marathon Digital Holdings, Inc. has a fifty-two week low of $9.61 and a fifty-two week high of $23.45.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings results 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 during the quarter, compared to analyst estimates of $254.58 million. Marathon Digital had a net margin of 100.82% and a negative return on equity of 2.59%. Equities analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

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.