Ensign Peak Advisors Inc Buys 4,450 Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Ensign Peak Advisors Inc raised its stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 5.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 85,563 shares of the business services provider’s stock after purchasing an additional 4,450 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Marathon Digital were worth $1,698,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in MARA. Vanguard Group Inc. increased its stake in Marathon Digital by 26.7% during the fourth quarter. Vanguard Group Inc. now owns 23,473,587 shares of the business services provider’s stock valued at $551,395,000 after acquiring an additional 4,950,392 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Marathon Digital by 261.1% during the second quarter. Dimensional Fund Advisors LP now owns 3,236,920 shares of the business services provider’s stock valued at $64,249,000 after purchasing an additional 2,340,472 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Marathon Digital by 186.6% in the second quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider’s stock valued at $40,485,000 after purchasing an additional 1,327,969 shares in the last quarter. Principal Financial Group Inc. lifted its position in Marathon Digital by 4,394.8% in the second quarter. Principal Financial Group Inc. now owns 1,354,766 shares of the business services provider’s stock worth $26,892,000 after purchasing an additional 1,324,625 shares during the period. Finally, Hel Ved Capital Management Ltd acquired a new stake in Marathon Digital during the fourth quarter worth $11,531,000. Institutional investors and hedge funds own 44.53% of the company’s stock.

Marathon Digital Stock Down 1.3 %

NASDAQ MARA opened at $17.29 on Friday. The stock’s 50 day simple moving average is $17.04 and its 200 day simple moving average is $18.80. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.75 and a quick ratio of 3.75. Marathon Digital Holdings, Inc. has a one year low of $7.16 and a one year high of $34.09. The firm has a market cap of $4.89 billion, a PE ratio of 8.04 and a beta of 5.51.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings data on Thursday, August 1st. The business services provider reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.49). The business had revenue of $145.14 million during the quarter, compared to analyst estimates of $157.86 million. Marathon Digital had a negative return on equity of 5.15% and a net margin of 62.57%. Marathon Digital’s revenue for the quarter was up 77.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.13) EPS. As a group, sell-side analysts forecast that Marathon Digital Holdings, Inc. will post -1.06 earnings per share for the current fiscal year.

Insider Buying and Selling at Marathon Digital

In other news, CEO Frederick G. Thiel sold 27,512 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $15.70, for a total transaction of $431,938.40. Following the sale, the chief executive officer now directly owns 4,278,309 shares of the company’s stock, valued at $67,169,451.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Marathon Digital news, CFO Salman Hassan Khan sold 16,700 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $15.70, for a total transaction of $262,190.00. Following the transaction, the chief financial officer now directly owns 2,103,347 shares in the company, valued at approximately $33,022,547.90. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Frederick G. Thiel sold 27,512 shares of Marathon Digital stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $15.70, for a total transaction of $431,938.40. Following the sale, the chief executive officer now owns 4,278,309 shares of the company’s stock, valued at approximately $67,169,451.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,212 shares of company stock worth $726,178. 1.11% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Friday, August 23rd. HC Wainwright restated a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a research note on Thursday, June 20th. Macquarie initiated coverage on Marathon Digital in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 price objective on the stock. Finally, B. Riley boosted their price target on Marathon Digital from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $19.61.

Marathon Digital Company Profile

Marathon Digital 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 Patent Group, Inc and changed its name to Marathon Digital Holdings, Inc in February 2021. Marathon Digital Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.