Public Sector Pension Investment Board Increases Stake in Marathon Digital Holdings, Inc. $MARA

Public Sector Pension Investment Board raised its holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 20.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,445,051 shares of the business services provider’s stock after buying an additional 245,222 shares during the period. Public Sector Pension Investment Board’s holdings in Marathon Digital were worth $26,387,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of MARA. Hollencrest Capital Management raised its stake in shares of Marathon Digital by 2,407.4% in the third quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 1,300 shares in the last quarter. Estabrook Capital Management acquired a new stake in Marathon Digital in the 2nd quarter valued at about $31,000. Bessemer Group Inc. raised its position in Marathon Digital by 56.8% in the 3rd quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 659 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Marathon Digital by 375.4% in the 2nd quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider’s stock valued at $40,000 after buying an additional 2,001 shares during the period. Finally, Salomon & Ludwin LLC acquired a new position in shares of Marathon Digital during the third quarter worth about $47,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Analyst Upgrades and Downgrades

MARA has been the topic of several analyst reports. Cantor Fitzgerald reduced their target price 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. Piper Sandler dropped their price objective on shares of Marathon Digital from $26.00 to $16.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 14th. Macquarie Infrastructure raised their price objective on shares of Marathon Digital from $26.00 to $29.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Rosenblatt Securities lowered their target price on shares of Marathon Digital from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Finally, Compass Point raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Monday, November 24th. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Marathon Digital has an average rating of “Hold” and a consensus price target of $21.00.

Insider Buying and Selling at Marathon Digital

In other Marathon Digital news, CFO Salman Hassan Khan sold 34,732 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $11.48, for a total transaction of $398,723.36. Following the transaction, the chief financial officer owned 248,566 shares of the company’s stock, valued at approximately $2,853,537.68. This trade represents a 12.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $10.80, for a total value of $297,054.00. Following the completion of the sale, the chief executive officer directly owned 3,517,566 shares of the company’s stock, valued at $37,989,712.80. The trade was a 0.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 151,979 shares of company stock worth $1,738,228 over the last quarter. 0.80% of the stock is owned by company insiders.

Marathon Digital Stock Up 9.2%

Shares of NASDAQ:MARA opened at $7.92 on Friday. The company has a market capitalization of $3.00 billion, a PE ratio of 4.40 and a beta of 5.56. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.63. Marathon Digital Holdings, Inc. has a twelve month low of $6.66 and a twelve month high of $23.45. The firm has a 50 day simple moving average of $9.93 and a 200-day simple moving average of $14.04.

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.