Marathon Digital Holdings, Inc. $MARA Shares Acquired by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lifted its position in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 4.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 103,426 shares of the business services provider’s stock after purchasing an additional 4,592 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Marathon Digital were worth $1,622,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp boosted its holdings in Marathon Digital by 59.9% in the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 683 shares during the last quarter. CX Institutional purchased a new stake in shares of Marathon Digital during the 1st quarter valued at approximately $68,000. Archer Investment Corp raised its position in shares of Marathon Digital by 6,800.0% during the 1st quarter. Archer Investment Corp now owns 6,900 shares of the business services provider’s stock valued at $79,000 after buying an additional 6,800 shares during the period. NewEdge Advisors LLC raised its position in shares of Marathon Digital by 65.3% during the 1st quarter. NewEdge Advisors LLC now owns 7,672 shares of the business services provider’s stock valued at $88,000 after buying an additional 3,032 shares during the period. Finally, Stratos Wealth Partners LTD. purchased a new stake in shares of Marathon Digital during the 1st quarter valued at approximately $121,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Insider Activity

In other news, CFO Salman Hassan Khan sold 34,732 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $16.24, for a total value of $564,047.68. Following the sale, the chief financial officer directly owned 318,428 shares in the company, valued at approximately $5,171,270.72. This trade represents a 9.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $17.38, for a total value of $478,036.90. Following the sale, the chief executive officer owned 3,755,789 shares in the company, valued at approximately $65,275,612.82. This trade represents a 0.73% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 204,598 shares of company stock worth $3,486,838. Corporate insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. cut their target price on Marathon Digital from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Friday, September 26th. Rosenblatt Securities reiterated a “buy” rating and set a $20.00 price target on shares of Marathon Digital in a report on Wednesday, July 30th. Piper Sandler upped their target price on shares of Marathon Digital from $23.00 to $26.00 and gave the company an “overweight” rating in a research report on Monday, July 21st. Cantor Fitzgerald upped their target price on shares of Marathon Digital from $28.00 to $30.00 and gave the company an “overweight” rating in a research report on Monday, October 6th. Finally, Macquarie boosted their price target on shares of Marathon Digital from $19.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $23.40.

Marathon Digital Stock Down 7.8%

Shares of NASDAQ:MARA opened at $18.63 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a market capitalization of $6.90 billion, a PE ratio of 16.78 and a beta of 6.33. The firm’s 50-day moving average is $16.78 and its two-hundred day moving average is $15.69. Marathon Digital Holdings, Inc. has a 1 year low of $9.81 and a 1 year high of $30.28.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $2.13. The firm had revenue of $238.50 million during the quarter, compared to analysts’ expectations of $212.25 million. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. The business’s quarterly revenue was up 64.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.72) earnings per share. Analysts predict that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

About Marathon Digital

MARA Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.