100,000 Shares in Marathon Digital Holdings, Inc. $MARA Bought by Alight Capital Management LP

Alight Capital Management LP bought a new position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 100,000 shares of the business services provider’s stock, valued at approximately $1,826,000.

A number of other large investors also recently modified their holdings of the business. Hollencrest Capital Management lifted its position in Marathon Digital by 2,407.4% in the 3rd quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 1,300 shares during the last quarter. Estabrook Capital Management acquired a new stake in shares of Marathon Digital in the second quarter valued at approximately $31,000. Bessemer Group Inc. raised its holdings in shares of Marathon Digital by 56.8% during the third quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock valued at $33,000 after buying an additional 659 shares during the last quarter. Salomon & Ludwin LLC bought a new stake in shares of Marathon Digital during the third quarter valued at approximately $47,000. Finally, Smartleaf Asset Management LLC boosted its position in shares of Marathon Digital by 303.6% during the second quarter. Smartleaf Asset Management LLC now owns 5,013 shares of the business services provider’s stock worth $75,000 after buying an additional 3,771 shares during the period. 44.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MARA. Piper Sandler cut their target price on Marathon Digital from $26.00 to $16.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 14th. Compass Point raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Monday, November 24th. Morgan Stanley initiated coverage on shares of Marathon Digital in a research note on Monday, February 9th. They set an “underweight” rating and a $8.00 price objective on the stock. Cantor Fitzgerald reduced their price objective on shares of Marathon Digital from $21.00 to $11.00 and set an “overweight” rating for the company in a report on Friday, February 27th. Finally, Weiss Ratings lowered shares of Marathon Digital from a “hold (c-)” rating to a “sell (d)” rating in a research report on Friday, March 6th. Seven analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Marathon Digital presently has a consensus rating of “Hold” and an average price target of $20.00.

Marathon Digital Price Performance

NASDAQ MARA opened at $9.32 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.92. Marathon Digital Holdings, Inc. has a 1 year low of $6.66 and a 1 year high of $23.45. The company has a market cap of $3.54 billion, a PE ratio of -2.35 and a beta of 5.51. The stock’s 50-day moving average price is $9.17 and its two-hundred day moving average price is $13.00.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings data on Thursday, February 26th. The business services provider reported ($4.52) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($4.29). The firm had revenue of $202.31 million for the quarter, compared to analysts’ expectations of $250.74 million. Marathon Digital had a negative return on equity of 19.01% and a negative net margin of 144.58%.The company’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.24 earnings per share. On average, analysts predict that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Insider Activity

In other Marathon Digital news, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $7.66, for a total value of $210,688.30. Following the completion of the sale, the chief executive officer owned 3,381,861 shares of the company’s stock, valued at $25,905,055.26. The trade was a 0.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Salman Hassan Khan sold 16,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $7.66, for a total value of $122,560.00. Following the sale, the chief financial officer directly owned 359,165 shares of the company’s stock, valued at $2,751,203.90. The trade was a 4.26% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 133,247 shares of company stock valued at $1,325,255. 0.80% of the stock is owned by corporate insiders.

About Marathon Digital

Marathon Digital Holdings, Inc is a digital asset technology company specializing in the mining and acquisition of bitcoin. Headquartered in Las Vegas, Nevada, the firm employs high-performance application-specific integrated circuit (ASIC) miners and proprietary software to secure the Bitcoin network and expand its crypto-mining footprint. Marathon Digital focuses on operational efficiency and scalability, while maintaining rigorous standards for regulatory compliance and corporate governance.

The company operates multiple large-scale mining facilities throughout North America, including sites in Texas, Montana and New York.