Algert Global LLC Buys 54,971 Shares of Marathon Digital Holdings, Inc. $MARA

Algert Global LLC increased its stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 17.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 372,597 shares of the business services provider’s stock after purchasing an additional 54,971 shares during the period. Algert Global LLC owned approximately 0.10% of Marathon Digital worth $6,804,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Bessemer Group Inc. boosted its stake in Marathon Digital by 56.8% during the 3rd quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock worth $33,000 after acquiring an additional 659 shares during the last quarter. Archer Investment Corp raised its holdings in Marathon Digital by 10.9% in the second quarter. Archer Investment Corp now owns 7,650 shares of the business services provider’s stock worth $120,000 after purchasing an additional 750 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of Marathon Digital by 15.9% during the third quarter. Smartleaf Asset Management LLC now owns 5,812 shares of the business services provider’s stock worth $108,000 after purchasing an additional 799 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Marathon Digital by 3.1% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 29,389 shares of the business services provider’s stock valued at $537,000 after buying an additional 882 shares during the period. Finally, Ameritas Investment Partners Inc. increased its position in shares of Marathon Digital by 2.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 35,443 shares of the business services provider’s stock valued at $556,000 after buying an additional 934 shares in the last quarter. Institutional investors and hedge funds own 44.53% of the company’s stock.

Marathon Digital Stock Down 1.0%

Shares of MARA stock opened at $9.23 on Tuesday. The firm’s fifty day moving average price is $9.14 and its two-hundred day moving average price is $12.93. 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 firm has a market capitalization of $3.51 billion, a P/E ratio of -2.33 and a beta of 5.51.

Marathon Digital (NASDAQ:MARA) last announced 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). Marathon Digital had a negative net margin of 144.58% and a negative return on equity of 19.01%. The company had revenue of $202.31 million during the quarter, compared to the consensus estimate of $250.74 million. During the same quarter in the previous year, the business earned $1.24 EPS. Marathon Digital’s revenue was down 5.6% on a year-over-year basis. On average, equities analysts predict that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MARA. JPMorgan Chase & Co. cut their price objective on Marathon Digital from $20.00 to $13.00 and set an “overweight” rating on the stock in a report on Monday, November 24th. Weiss Ratings lowered shares of Marathon Digital from a “hold (c-)” rating to a “sell (d)” rating in a research note on Friday, March 6th. Cantor Fitzgerald lowered their price objective on shares of Marathon Digital from $21.00 to $11.00 and set an “overweight” rating for the company in a research report on Friday, February 27th. Morgan Stanley assumed coverage on shares of Marathon Digital in a research report on Monday, February 9th. They issued an “underweight” rating and a $8.00 price objective on the stock. Finally, HC Wainwright reiterated a “neutral” rating on shares of Marathon Digital in a report on Friday, February 27th. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $20.00.

Insider Activity at Marathon Digital

In other news, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $10.80, for a total value of $297,054.00. Following the completion of the sale, the chief executive officer owned 3,517,566 shares of the company’s stock, valued at approximately $37,989,712.80. This represents a 0.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Salman Hassan Khan sold 16,000 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $7.66, for a total transaction of $122,560.00. Following the completion of the transaction, the chief financial officer directly owned 359,165 shares of the company’s stock, valued at $2,751,203.90. This represents a 4.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 98,515 shares of company stock worth $926,531 in the last ninety days. Insiders own 0.80% of the company’s stock.

Marathon Digital Company Profile

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.