Teacher Retirement System of Texas Purchases New Position in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Teacher Retirement System of Texas bought a new position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 49,195 shares of the business services provider’s stock, valued at approximately $566,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MARA. Park Square Financial Group LLC purchased a new position in shares of Marathon Digital during the 4th quarter worth approximately $27,000. Sterling Capital Management LLC grew its holdings in shares of Marathon Digital by 358.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider’s stock worth $31,000 after acquiring an additional 1,426 shares during the period. Brown Brothers Harriman & Co. purchased a new position in shares of Marathon Digital during the 4th quarter worth approximately $50,000. CIBC Private Wealth Group LLC grew its holdings in shares of Marathon Digital by 211.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,500 shares of the business services provider’s stock worth $64,000 after acquiring an additional 2,375 shares during the period. Finally, CX Institutional purchased a new position in shares of Marathon Digital during the 1st quarter worth approximately $68,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Insider Activity

In other news, CFO Salman Hassan Khan sold 34,733 shares of the company’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $15.85, for a total transaction of $550,518.05. Following the transaction, the chief financial officer directly owned 1,413,298 shares of the company’s stock, valued at $22,400,773.30. This represents a 2.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Frederick G. Thiel sold 55,010 shares of the stock in a transaction on Friday, May 9th. The shares were sold at an average price of $15.00, for a total value of $825,150.00. Following the transaction, the chief executive officer directly owned 4,146,804 shares in the company, valued at $62,202,060. The trade was a 1.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 199,853 shares of company stock valued at $3,072,049 over the last ninety days. 0.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on Marathon Digital from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, June 13th. Rosenblatt Securities upped their target price on Marathon Digital from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, May 27th. Compass Point restated a “sell” rating and issued a $9.50 price target (down previously from $25.00) on shares of Marathon Digital in a research note on Tuesday, May 6th. HC Wainwright restated a “buy” rating and issued a $28.00 price target on shares of Marathon Digital in a research note on Thursday, April 24th. Finally, Piper Sandler cut their price target on Marathon Digital from $30.00 to $23.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Marathon Digital presently has a consensus rating of “Hold” and a consensus target price of $20.94.

Marathon Digital Stock Performance

MARA stock opened at $19.44 on Thursday. The stock has a market capitalization of $6.84 billion, a PE ratio of -13.41 and a beta of 6.53. Marathon Digital Holdings, Inc. has a 12-month low of $9.81 and a 12-month high of $30.28. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.62. The stock’s 50 day simple moving average is $16.00 and its 200 day simple moving average is $15.38.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings data on Thursday, May 8th. The business services provider reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.06). The business had revenue of $213.88 million during the quarter, compared to the consensus estimate of $234.19 million. Marathon Digital had a negative net margin of 46.68% and a positive return on equity of 6.33%. The business’s revenue was up 29.5% compared to the same quarter last year. During the same period last year, the company posted $1.26 earnings per share. As a group, research analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Marathon Digital Company Profile

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.