American Century Companies Inc. Reduces Stock Position in Marathon Digital Holdings, Inc. $MARA

American Century Companies Inc. lessened its holdings in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 31.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,619,886 shares of the business services provider’s stock after selling 2,161,312 shares during the period. American Century Companies Inc. owned about 1.22% of Marathon Digital worth $84,359,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Harvest Portfolios Group Inc. grew its position in shares of Marathon Digital by 86.3% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 249,377 shares of the business services provider’s stock worth $4,554,000 after buying an additional 115,528 shares during the last quarter. WealthTrust Asset Management LLC purchased a new stake in Marathon Digital in the third quarter worth $196,000. Banco Santander S.A. bought a new stake in Marathon Digital in the third quarter valued at $195,000. R Squared Ltd bought a new stake in Marathon Digital in the third quarter valued at $740,000. Finally, Xponance Inc. increased its position in Marathon Digital by 7.9% during the 3rd quarter. Xponance Inc. now owns 29,306 shares of the business services provider’s stock valued at $535,000 after purchasing an additional 2,152 shares during the period. Institutional investors own 44.53% of the company’s stock.

Insider Activity at Marathon Digital

In other Marathon Digital news, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $7.66, for a total transaction of $210,688.30. Following the sale, the chief executive officer directly owned 3,381,861 shares in the company, valued at approximately $25,905,055.26. This trade represents a 0.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Salman Hassan Khan sold 16,000 shares of Marathon Digital stock in a transaction 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 completion of the sale, the chief financial officer directly owned 359,165 shares of the company’s stock, valued at approximately $2,751,203.90. The trade was a 4.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 133,247 shares of company stock valued at $1,325,255 in the last three months. 0.80% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on MARA. JPMorgan Chase & Co. dropped their target price on shares of Marathon Digital from $20.00 to $13.00 and set an “overweight” rating for the company in a research report on Monday, November 24th. Rosenblatt Securities decreased their price target on shares of Marathon Digital from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Compass Point raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Monday, November 24th. HC Wainwright reiterated a “neutral” rating on shares of Marathon Digital in a report on Friday, February 27th. Finally, Cantor Fitzgerald decreased their target price on Marathon Digital from $21.00 to $11.00 and set an “overweight” rating for the company in a research report on Friday, February 27th. Seven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.00.

Marathon Digital Stock Performance

Shares of Marathon Digital stock opened at $8.66 on Wednesday. Marathon Digital Holdings, Inc. has a 1 year low of $6.66 and a 1 year high of $23.45. The firm’s 50-day moving average is $9.29 and its 200 day moving average is $13.37. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of -2.19 and a beta of 5.51. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.09 and a quick ratio of 2.09.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings data on Thursday, February 26th. The business services provider reported ($4.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($4.29). The firm had revenue of $202.31 million for the quarter, compared to the consensus estimate of $250.74 million. Marathon Digital had a negative net margin of 144.58% and a negative return on equity of 17.88%. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.24 earnings per share. Sell-side analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Marathon Digital 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.