FORA Capital LLC Boosts Holdings in Marathon Digital Holdings, Inc. $MARA

FORA Capital LLC increased its position in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 493.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,794 shares of the business services provider’s stock after purchasing an additional 158,626 shares during the period. FORA Capital LLC owned approximately 0.05% of Marathon Digital worth $3,484,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Integrated Wealth Concepts LLC increased its stake in Marathon Digital by 9.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider’s stock valued at $127,000 after purchasing an additional 991 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of Marathon Digital by 65.3% in the first quarter. NewEdge Advisors LLC now owns 7,672 shares of the business services provider’s stock worth $88,000 after buying an additional 3,032 shares in the last quarter. United Services Automobile Association grew its holdings in shares of Marathon Digital by 8.2% during the first quarter. United Services Automobile Association now owns 20,634 shares of the business services provider’s stock valued at $257,000 after buying an additional 1,569 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Marathon Digital by 11.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 643,311 shares of the business services provider’s stock valued at $7,398,000 after buying an additional 63,903 shares during the last quarter. Finally, Envestnet Asset Management Inc. bought a new stake in shares of Marathon Digital during the second quarter valued at approximately $183,000. 44.53% of the stock is owned by hedge funds and other institutional investors.

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, January 20th. The stock was sold at an average price of $10.80, for a total transaction of $297,054.00. Following the completion of the sale, the chief executive officer directly owned 3,517,566 shares in the company, valued at $37,989,712.80. The trade was a 0.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Salman Hassan Khan sold 34,732 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $11.48, for a total transaction of $398,723.36. Following the completion of the transaction, the chief financial officer owned 248,566 shares in the company, valued at $2,853,537.68. This trade represents a 12.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 133,247 shares of company stock worth $1,325,255 over the last three months. Insiders own 0.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Compass Point upgraded shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Monday, November 24th. HC Wainwright reiterated a “neutral” rating on shares of Marathon Digital in a research note on Friday, February 27th. Piper Sandler reduced their target price on Marathon Digital from $26.00 to $16.00 and set an “overweight” rating for the company in a report on Wednesday, January 14th. Morgan Stanley initiated coverage on Marathon Digital in a research note on Monday, February 9th. They issued an “underweight” rating and a $8.00 price target for the company. Finally, Weiss Ratings cut 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 assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Marathon Digital presently has a consensus rating of “Hold” and a consensus target price of $20.00.

Marathon Digital Price Performance

NASDAQ MARA opened at $9.32 on Friday. The business’s fifty day moving average price is $9.17 and its 200-day moving average price is $13.02. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of -2.35 and a beta of 5.51. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.27 and a quick ratio of 1.27. Marathon Digital Holdings, Inc. has a 1-year low of $6.66 and a 1-year high of $23.45.

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

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.