Zurcher Kantonalbank Zurich Cantonalbank Boosts Stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 18.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,276 shares of the business services provider’s stock after purchasing an additional 10,811 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Marathon Digital were worth $785,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Park Square Financial Group LLC purchased a new stake in shares of Marathon Digital during the 4th quarter worth about $27,000. Sterling Capital Management LLC increased its position in shares of Marathon Digital by 358.3% in the fourth 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 in the last quarter. CIBC Private Wealth Group LLC increased its position in shares of Marathon Digital by 211.1% in the fourth 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 in the last quarter. CX Institutional purchased a new position in shares of Marathon Digital in the 1st quarter valued at $68,000. Finally, NewEdge Advisors LLC lifted its holdings in shares of Marathon Digital by 28.9% during the 4th quarter. NewEdge Advisors LLC now owns 4,640 shares of the business services provider’s stock valued at $78,000 after acquiring an additional 1,040 shares in the last quarter. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Marathon Digital

In other Marathon Digital news, CFO Salman Hassan Khan sold 34,733 shares of Marathon Digital stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $15.85, for a total value of $550,518.05. Following the completion of the transaction, the chief financial officer owned 1,413,298 shares of the company’s stock, valued at $22,400,773.30. The trade was a 2.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Douglas K. Mellinger sold 3,000 shares of the business’s stock in a transaction on Friday, May 9th. The shares were sold at an average price of $16.00, for a total transaction of $48,000.00. Following the sale, the director owned 176,859 shares of the company’s stock, valued at approximately $2,829,744. The trade was a 1.67% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 262,090 shares of company stock worth $4,270,591. 0.80% of the stock is currently owned by corporate insiders.

Marathon Digital Price Performance

MARA opened at $15.62 on Wednesday. The company has a 50-day moving average of $16.48 and a 200-day moving average of $15.29. The company has a market capitalization of $5.79 billion, a P/E ratio of 14.07 and a beta of 6.24. Marathon Digital Holdings, Inc. has a 1-year low of $9.81 and a 1-year high of $30.28. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 0.54.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $2.13. The business had revenue of $238.50 million during the quarter, compared to the consensus estimate of $212.25 million. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%. The company’s revenue for the quarter was up 64.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.72) earnings per share. Equities analysts expect that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Analysts Set New Price Targets

MARA has been the topic of several research reports. Rosenblatt Securities reissued a “buy” rating and issued a $20.00 price objective on shares of Marathon Digital in a research report on Wednesday, July 30th. Barclays upped their price target on Marathon Digital from $14.00 to $16.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th. Compass Point raised shares of Marathon Digital from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $9.50 to $18.00 in a research report on Friday, July 25th. HC Wainwright reaffirmed a “buy” rating and set a $28.00 price target on shares of Marathon Digital in a research note on Thursday, April 24th. Finally, Macquarie upped their price objective on shares of Marathon Digital from $19.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.22.

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.