Hsbc Holdings PLC Invests $5.22 Million in Marathon Digital Holdings, Inc. $MARA

Hsbc Holdings PLC purchased a new stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 568,952 shares of the business services provider’s stock, valued at approximately $5,220,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Tobam grew its position in Marathon Digital by 3.6% in the fourth quarter. Tobam now owns 58,338 shares of the business services provider’s stock worth $524,000 after acquiring an additional 2,045 shares during the period. Alpine Global Management LLC raised its position in Marathon Digital by 208,433.3% in the fourth quarter. Alpine Global Management LLC now owns 18,768 shares of the business services provider’s stock valued at $169,000 after purchasing an additional 18,759 shares during the period. Vident Advisory LLC lifted its stake in shares of Marathon Digital by 71.0% in the 4th quarter. Vident Advisory LLC now owns 1,693,604 shares of the business services provider’s stock valued at $15,209,000 after purchasing an additional 703,262 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of Marathon Digital by 29.3% during the 4th quarter. Mackenzie Financial Corp now owns 45,045 shares of the business services provider’s stock worth $419,000 after purchasing an additional 10,194 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in Marathon Digital by 19.6% in the 4th quarter. NewEdge Advisors LLC now owns 11,053 shares of the business services provider’s stock valued at $99,000 after buying an additional 1,811 shares during the period. 44.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Citizens Jmp began coverage on shares of Marathon Digital in a research report on Wednesday. They issued a “market outperform” rating and a $24.00 target price on the stock. Morgan Stanley reduced their price target on shares of Marathon Digital from $8.50 to $7.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 19th. Rosenblatt Securities upped their price objective on shares of Marathon Digital from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, May 1st. BTIG Research restated a “buy” rating and issued a $27.00 price objective on shares of Marathon Digital in a report on Monday, June 1st. Finally, Cantor Fitzgerald lowered their price objective on shares of Marathon Digital from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Insider Activity

In other news, Director Douglas K. Mellinger sold 7,000 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $16.00, for a total value of $112,000.00. Following the completion of the transaction, the director owned 231,618 shares in the company, valued at approximately $3,705,888. This represents a 2.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $14.25, for a total transaction of $391,946.25. Following the completion of the transaction, the chief executive officer owned 4,562,009 shares of the company’s stock, valued at $65,008,628.25. This represents a 0.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 194,855 shares of company stock worth $2,465,975. 0.97% of the stock is currently owned by company insiders.

Marathon Digital Price Performance

Shares of NASDAQ MARA opened at $14.53 on Friday. The stock’s 50-day moving average is $13.15 and its two-hundred day moving average is $10.69. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.84 and a quick ratio of 1.84. Marathon Digital Holdings, Inc. has a 1-year low of $6.66 and a 1-year high of $23.45. The company has a market cap of $5.54 billion, a price-to-earnings ratio of -2.54 and a beta of 5.38.

About Marathon Digital

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.