M&T Bank Corp Acquires 3,840 Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA)

M&T Bank Corp raised its position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 16.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,721 shares of the business services provider’s stock after acquiring an additional 3,840 shares during the period. M&T Bank Corp’s holdings in Marathon Digital were worth $308,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity at Marathon Digital

In other news, CEO Frederick G. Thiel sold 55,010 shares of the company’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $15.00, for a total transaction of $825,150.00. Following the completion of the sale, the chief executive officer owned 4,146,804 shares in the company, valued at approximately $62,202,060. This represents a 1.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Salman Hassan Khan sold 34,733 shares of the business’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $15.85, for a total value 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 position. The disclosure for this sale can be found here. Insiders sold 234,585 shares of company stock worth $3,733,694 in the last quarter. 0.80% of the stock is owned by company insiders.

Analyst Ratings Changes

MARA has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Marathon Digital from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Friday, June 13th. Compass Point restated a “sell” rating and issued a $9.50 price objective (down previously from $25.00) on shares of Marathon Digital in a report on Tuesday, May 6th. Barclays raised their target price on Marathon Digital from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Monday, May 12th. HC Wainwright reissued a “buy” rating and set a $28.00 price objective on shares of Marathon Digital in a research report on Thursday, April 24th. Finally, Piper Sandler dropped their target price on Marathon Digital from $30.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to MarketBeat, Marathon Digital presently has a consensus rating of “Hold” and an average price target of $20.94.

Marathon Digital Stock Performance

Shares of NASDAQ:MARA opened at $19.97 on Friday. Marathon Digital Holdings, Inc. has a one year low of $9.81 and a one year high of $30.28. The business’s 50-day simple moving average is $16.12 and its 200 day simple moving average is $15.40. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.79 and a current ratio of 0.79. The company has a market cap of $7.03 billion, a P/E ratio of -13.77 and a beta of 6.53.

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

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.