Quantinno Capital Management LP Raises Stake in Marathon Digital Holdings, Inc. $MARA

Quantinno Capital Management LP lifted its stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 315.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 166,571 shares of the business services provider’s stock after purchasing an additional 126,482 shares during the period. Quantinno Capital Management LP’s holdings in Marathon Digital were worth $1,359,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Ascentis Independent Advisors bought a new position in Marathon Digital in the 1st quarter worth about $28,000. Bogart Wealth LLC boosted its holdings in shares of Marathon Digital by 4,345.1% in the first quarter. Bogart Wealth LLC now owns 4,045 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 3,954 shares during the period. Eurizon Capital SGR S.p.A. bought a new position in Marathon Digital in the fourth quarter worth approximately $36,000. Hantz Financial Services Inc. grew its stake in Marathon Digital by 344.8% in the fourth quarter. Hantz Financial Services Inc. now owns 5,022 shares of the business services provider’s stock worth $45,000 after purchasing an additional 3,893 shares in the last quarter. Finally, Danske Bank A S increased its holdings in Marathon Digital by 93.3% during the 4th quarter. Danske Bank A S now owns 5,800 shares of the business services provider’s stock worth $52,000 after purchasing an additional 2,800 shares during the period. Institutional investors own 44.53% of the company’s stock.

Marathon Digital Price Performance

Shares of NASDAQ MARA opened at $9.21 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.15. The firm has a 50-day simple moving average of $12.44 and a 200-day simple moving average of $11.00. Marathon Digital Holdings, Inc. has a 52 week low of $6.66 and a 52 week high of $23.45. The stock has a market capitalization of $3.56 billion, a price-to-earnings ratio of -1.01 and a beta of 5.40.

Marathon Digital (NASDAQ:MARA) last issued its earnings results on Thursday, August 6th. The business services provider reported ($1.60) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($1.77). Marathon Digital had a negative return on equity of 26.05% and a negative net margin of 429.71%.The company had revenue of $174.88 million for the quarter, compared to analyst estimates of $209.44 million. During the same quarter in the prior year, the firm earned $1.84 earnings per share. The company’s revenue for the quarter was down 26.7% on a year-over-year basis. On average, equities analysts predict that Marathon Digital Holdings, Inc. will post -2.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MARA shares. Citizens Jmp assumed coverage on Marathon Digital in a research report on Wednesday, June 24th. They set a “market outperform” rating and a $24.00 target price for the company. Cantor Fitzgerald decreased their target price on shares of Marathon Digital from $14.00 to $12.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. Rosenblatt Securities reissued a “buy” rating and issued a $15.00 price target on shares of Marathon Digital in a report on Friday, August 7th. Morgan Stanley lifted their price objective on shares of Marathon Digital from $5.50 to $6.00 and gave the stock an “underweight” rating in a research note on Thursday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Marathon Digital in a report on Friday, August 7th. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $18.78.

Insider Activity

In related news, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $14.25, for a total value of $391,946.25. Following the completion of the sale, the chief executive officer owned 4,562,009 shares of the company’s stock, valued at approximately $65,008,628.25. This represents a 0.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Douglas K. Mellinger sold 7,000 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $16.00, for a total transaction of $112,000.00. Following the completion of the sale, the director directly owned 231,618 shares of the company’s stock, valued at approximately $3,705,888. This trade represents a 2.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 109,260 shares of company stock worth $1,452,756. Company insiders own 0.97% of the company’s stock.

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.