Marathon Digital Holdings, Inc. $MARA Position Decreased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS decreased its holdings in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 1.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,600 shares of the business services provider’s stock after selling 1,300 shares during the period. KLP Kapitalforvaltning AS’s holdings in Marathon Digital were worth $1,123,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the company. Sava Infond d.o.o. raised its holdings in shares of Marathon Digital by 109.1% during the second quarter. Sava Infond d.o.o. now owns 11,500 shares of the business services provider’s stock valued at $180,000 after acquiring an additional 6,000 shares during the period. 111 Capital acquired a new stake in shares of Marathon Digital during the second quarter valued at approximately $190,000. Matauro LLC raised its holdings in shares of Marathon Digital by 3.7% during the second quarter. Matauro LLC now owns 289,166 shares of the business services provider’s stock valued at $4,534,000 after acquiring an additional 10,207 shares during the period. State of Alaska Department of Revenue raised its holdings in shares of Marathon Digital by 11.5% during the second quarter. State of Alaska Department of Revenue now owns 209,652 shares of the business services provider’s stock valued at $3,287,000 after acquiring an additional 21,605 shares during the period. Finally, CX Institutional raised its holdings in shares of Marathon Digital by 12.6% during the second quarter. CX Institutional now owns 6,698 shares of the business services provider’s stock valued at $105,000 after acquiring an additional 749 shares during the period. 44.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Marathon Digital

In related news, Director Vicki Mealer-Burke sold 14,887 shares of Marathon Digital stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $15.22, for a total value of $226,580.14. Following the completion of the transaction, the director directly owned 58,103 shares of the company’s stock, valued at $884,327.66. The trade was a 20.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $17.38, for a total value of $478,036.90. Following the sale, the chief executive officer directly owned 3,755,789 shares of the company’s stock, valued at $65,275,612.82. This represents a 0.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 142,361 shares of company stock valued at $2,288,295 over the last ninety days. 0.80% of the stock is owned by insiders.

Marathon Digital Stock Up 9.9%

MARA opened at $22.24 on Wednesday. Marathon Digital Holdings, Inc. has a fifty-two week low of $9.81 and a fifty-two week high of $30.28. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.54 and a quick ratio of 0.54. The firm’s fifty day moving average price is $17.00 and its two-hundred day moving average price is $15.80. The company has a market capitalization of $8.24 billion, a P/E ratio of 20.04 and a beta of 6.33.

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

Wall Street Analyst Weigh In

MARA has been the topic of several research reports. BTIG Research reiterated a “buy” rating and issued a $27.00 price objective on shares of Marathon Digital in a research note on Friday, September 5th. Cantor Fitzgerald upped their price objective on shares of Marathon Digital from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday, October 6th. Piper Sandler upped their price objective on shares of Marathon Digital from $23.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, July 21st. 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 note on Wednesday, July 30th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Marathon Digital from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, September 26th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Marathon Digital presently has an average rating of “Moderate Buy” and a consensus target price of $23.40.

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.