Marathon Digital Holdings, Inc. $MARA Stake Boosted by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 11.5% during the first quarter, HoldingsChannel reports. The fund owned 634,172 shares of the business services provider’s stock after purchasing an additional 65,220 shares during the quarter. Hsbc Holdings PLC’s holdings in Marathon Digital were worth $5,099,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MARA. Vanguard Group Inc. boosted its position in Marathon Digital by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 46,706,277 shares of the business services provider’s stock valued at $419,422,000 after purchasing an additional 1,394,559 shares during the last quarter. State Street Corp raised its stake in shares of Marathon Digital by 1.4% during the 2nd quarter. State Street Corp now owns 13,455,176 shares of the business services provider’s stock worth $210,977,000 after purchasing an additional 191,380 shares in the last quarter. UBS Group AG raised its stake in shares of Marathon Digital by 104.1% during the 3rd quarter. UBS Group AG now owns 12,098,686 shares of the business services provider’s stock worth $220,922,000 after purchasing an additional 6,172,110 shares in the last quarter. Marex Group plc raised its stake in shares of Marathon Digital by 2.6% during the 4th quarter. Marex Group plc now owns 10,137,713 shares of the business services provider’s stock worth $91,037,000 after purchasing an additional 259,210 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Marathon Digital by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 9,957,766 shares of the business services provider’s stock valued at $89,434,000 after buying an additional 251,674 shares during the last quarter. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Digital Stock Performance

Shares of NASDAQ MARA opened at $12.77 on Friday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.99. The business’s 50 day moving average is $13.30 and its two-hundred day moving average is $10.98. The company has a market cap of $4.87 billion, a P/E ratio of -2.23 and a beta of 5.36. Marathon Digital Holdings, Inc. has a 12 month low of $6.66 and a 12 month high of $23.45.

Insider Activity at Marathon Digital

In related news, 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 directly owned 4,562,009 shares in the company, valued at $65,008,628.25. This represents a 0.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Zabi Nowaid sold 7,000 shares of the stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $14.25, for a total transaction of $99,750.00. Following the completion of the sale, the general counsel directly owned 963,768 shares of the company’s stock, valued at approximately $13,733,694. This trade represents a 0.72% decrease in their ownership of the stock. 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. In the last three months, insiders have sold 109,260 shares of company stock worth $1,452,756. Insiders own 0.97% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on MARA. Weiss Ratings cut Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, May 12th. Piper Sandler cut their price objective on shares of Marathon Digital from $16.00 to $13.00 and set an “overweight” rating on the stock in a research report on Friday, July 17th. Cantor Fitzgerald reduced their target price on shares of Marathon Digital from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Morgan Stanley decreased their target price on shares of Marathon Digital from $7.00 to $5.50 and set an “underweight” rating for the company in a research report on Wednesday, July 8th. Finally, Rosenblatt Securities increased their price target on shares of Marathon Digital from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Eight 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $18.50.

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.