Brevan Howard Capital Management LP Buys 137,606 Shares of Marathon Digital Holdings, Inc. $MARA

Brevan Howard Capital Management LP raised its stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 238.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 195,260 shares of the business services provider’s stock after buying an additional 137,606 shares during the quarter. Brevan Howard Capital Management LP owned about 0.05% of Marathon Digital worth $3,565,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Hollencrest Capital Management increased its holdings in shares of Marathon Digital by 2,407.4% during the third quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 1,300 shares in the last quarter. Estabrook Capital Management purchased a new position in shares of Marathon Digital in the 2nd quarter worth about $31,000. Bessemer Group Inc. boosted its stake in Marathon Digital by 56.8% in the 3rd quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock worth $33,000 after purchasing an additional 659 shares in the last quarter. Salomon & Ludwin LLC bought a new position in Marathon Digital in the 3rd quarter worth about $47,000. Finally, Smartleaf Asset Management LLC grew its position in Marathon Digital by 303.6% during the 2nd quarter. Smartleaf Asset Management LLC now owns 5,013 shares of the business services provider’s stock valued at $75,000 after purchasing an additional 3,771 shares during the last quarter. 44.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on MARA. HC Wainwright restated a “neutral” rating on shares of Marathon Digital in a research note on Friday, February 27th. Morgan Stanley started coverage on shares of Marathon Digital in a research note on Monday, February 9th. They issued an “underweight” rating and a $8.00 target price on the stock. JPMorgan Chase & Co. reduced their price target 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. Piper Sandler decreased their price objective on shares of Marathon Digital from $26.00 to $16.00 and set an “overweight” rating for the company in a report on Wednesday, January 14th. Finally, Cantor Fitzgerald lowered their price objective on Marathon Digital from $21.00 to $11.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $20.00.

Insider Activity

In related news, CFO Salman Hassan Khan sold 16,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer directly owned 359,165 shares in the company, valued at approximately $2,751,203.90. The trade was a 4.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were 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 of the company’s stock, valued at approximately $25,905,055.26. This represents a 0.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 98,515 shares of company stock valued at $926,531 in the last ninety days. Insiders own 0.80% of the company’s stock.

Marathon Digital Stock Performance

Shares of MARA opened at $9.23 on Tuesday. 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 one year low of $6.66 and a one 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. The business has a fifty day moving average of $9.14 and a 200 day moving average of $12.93.

Marathon Digital (NASDAQ:MARA) last posted its earnings results 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 during 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 19.01%. The firm’s revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.24 EPS. As a group, sell-side analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 EPS 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.