Paradiem LLC Purchases Shares of 54,592 Marathon Digital Holdings, Inc. $MARA

Paradiem LLC acquired a new position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 54,592 shares of the business services provider’s stock, valued at approximately $997,000.

Several other institutional investors have also modified their holdings of the stock. Bank of New York Mellon Corp increased its holdings in shares of Marathon Digital by 8.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,286,074 shares of the business services provider’s stock valued at $35,846,000 after acquiring an additional 177,771 shares during the period. Emerald Advisers LLC boosted its stake in Marathon Digital by 77.4% during the 2nd quarter. Emerald Advisers LLC now owns 579,571 shares of the business services provider’s stock worth $9,088,000 after purchasing an additional 252,864 shares during the period. Emerald Mutual Fund Advisers Trust grew its position in Marathon Digital by 91.3% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 347,214 shares of the business services provider’s stock worth $5,444,000 after purchasing an additional 165,688 shares during the last quarter. Intech Investment Management LLC increased its stake in Marathon Digital by 14.5% in the first quarter. Intech Investment Management LLC now owns 160,717 shares of the business services provider’s stock valued at $1,848,000 after purchasing an additional 20,413 shares during the period. Finally, New York State Teachers Retirement System raised its holdings in shares of Marathon Digital by 12.0% in the second quarter. New York State Teachers Retirement System now owns 318,656 shares of the business services provider’s stock valued at $4,997,000 after buying an additional 34,100 shares during the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Analyst Upgrades and Downgrades

MARA has been the subject of several recent research reports. Rosenblatt Securities decreased their target price on shares of Marathon Digital from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Compass Point raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Monday, November 24th. Guggenheim assumed coverage on Marathon Digital in a research note on Tuesday, October 21st. They issued a “neutral” rating on the stock. BTIG Research reissued a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a report on Friday, September 5th. Finally, Cantor Fitzgerald decreased their price target on Marathon Digital from $30.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.56.

Marathon Digital Price Performance

Shares of MARA opened at $9.59 on Friday. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.63. The stock’s 50 day moving average is $13.53 and its two-hundred day moving average is $15.81. Marathon Digital Holdings, Inc. has a twelve month low of $9.43 and a twelve month high of $23.45. The firm has a market capitalization of $3.63 billion, a PE ratio of 5.33 and a beta of 5.42.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings results on Tuesday, November 4th. The business services provider reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.06). Marathon Digital had a net margin of 100.82% and a negative return on equity of 2.59%. The business had revenue of $252.41 million during the quarter, compared to analyst estimates of $254.58 million. Research analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Insider Buying and Selling at Marathon Digital

In other Marathon Digital news, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $10.77, for a total transaction of $296,228.85. Following the sale, the chief executive officer directly owned 3,555,489 shares in the company, valued at approximately $38,292,616.53. The trade was a 0.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Salman Hassan Khan sold 34,732 shares of the stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $11.48, for a total transaction of $398,723.36. Following the completion of the transaction, the chief financial officer owned 248,566 shares of the company’s stock, valued at $2,853,537.68. This represents a 12.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 218,711 shares of company stock valued at $3,286,669. 0.80% of the stock is owned by company 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.