Louisiana State Employees Retirement System Makes New Investment in Marathon Digital Holdings, Inc. $MARA

Louisiana State Employees Retirement System purchased a new position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 167,700 shares of the business services provider’s stock, valued at approximately $1,368,000.

Several other hedge funds also recently modified their holdings of MARA. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Marathon Digital in the fourth quarter worth $36,000. Hantz Financial Services Inc. raised its stake in Marathon Digital by 344.8% during the 4th quarter. Hantz Financial Services Inc. now owns 5,022 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 3,893 shares during the last quarter. Danske Bank A S boosted its holdings in Marathon Digital by 93.3% in the 4th quarter. Danske Bank A S now owns 5,800 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 2,800 shares during the period. Farther Finance Advisors LLC boosted its holdings in Marathon Digital by 50.8% in the 4th quarter. Farther Finance Advisors LLC now owns 7,754 shares of the business services provider’s stock valued at $70,000 after purchasing an additional 2,613 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in Marathon Digital by 303.6% in the 2nd quarter. Smartleaf Asset Management LLC now owns 5,013 shares of the business services provider’s stock worth $75,000 after purchasing an additional 3,771 shares during the last quarter. 44.53% of the stock is owned by institutional investors.

Marathon Digital Stock Down 7.3%

MARA opened at $12.40 on Friday. Marathon Digital Holdings, Inc. has a fifty-two week low of $6.66 and a fifty-two week high of $23.45. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.84 and a quick ratio of 1.84. The firm’s fifty day moving average price is $13.31 and its two-hundred day moving average price is $10.73. The company has a market capitalization of $4.73 billion, a P/E ratio of -2.17 and a beta of 5.36.

Analysts Set New Price Targets

MARA has been the topic of several research reports. Weiss Ratings downgraded shares of Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, May 12th. Rosenblatt Securities increased their target price on shares of Marathon Digital from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Cantor Fitzgerald decreased their target price on Marathon Digital from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. BTIG Research restated a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a research note on Monday, June 1st. Finally, Citizens Jmp began coverage on Marathon Digital in a report on Wednesday, June 24th. They issued a “market outperform” rating and a $24.00 price target for the company. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.00.

Insider Buying and Selling at Marathon Digital

In other news, CFO Salman Hassan Khan sold 16,000 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $12.00, for a total transaction of $192,000.00. Following the completion of the transaction, the chief financial officer directly owned 425,066 shares of the company’s stock, valued at approximately $5,100,792. This trade represents a 3.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Zabi Nowaid sold 42,090 shares of Marathon Digital stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $12.00, for a total transaction of $505,080.00. Following the sale, the general counsel owned 1,007,047 shares in the company, valued at approximately $12,084,564. This trade represents a 4.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 194,855 shares of company stock valued at $2,465,975 over the last quarter. 0.97% of the stock is currently owned by insiders.

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.