Y Intercept Hong Kong Ltd Grows Holdings in Marathon Digital Holdings, Inc. $MARA

Y Intercept Hong Kong Ltd increased its stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 259.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 709,473 shares of the business services provider’s stock after purchasing an additional 511,879 shares during the period. Y Intercept Hong Kong Ltd owned approximately 0.19% of Marathon Digital worth $12,955,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its stake in Marathon Digital by 8.4% in the second 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 buying an additional 177,771 shares in the last quarter. Emerald Advisers LLC increased its holdings in shares of Marathon Digital by 77.4% in the 2nd quarter. Emerald Advisers LLC now owns 579,571 shares of the business services provider’s stock valued at $9,088,000 after acquiring an additional 252,864 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its position in shares of 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 acquiring an additional 165,688 shares in the last quarter. Mizuho Markets Americas LLC acquired a new stake in shares of Marathon Digital during the 3rd quarter worth about $5,438,000. Finally, New York State Teachers Retirement System lifted its stake in Marathon Digital by 12.0% during the second quarter. New York State Teachers Retirement System now owns 318,656 shares of the business services provider’s stock worth $4,997,000 after purchasing an additional 34,100 shares during the last quarter. Institutional investors and hedge funds own 44.53% of the company’s stock.

Insider Buying and Selling at Marathon Digital

In other Marathon Digital news, General Counsel Zabi Nowaid sold 25,113 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $15.87, for a total transaction of $398,543.31. Following the completion of the sale, the general counsel directly owned 723,136 shares of the company’s stock, valued at approximately $11,476,168.32. This trade represents a 3.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Salman Hassan Khan sold 34,732 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $11.48, for a total value of $398,723.36. Following the completion of the transaction, the chief financial officer directly owned 248,566 shares in the company, valued at approximately $2,853,537.68. The trade was a 12.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 182,979 shares of company stock valued at $2,234,934 in the last ninety days. Insiders own 0.80% of the company’s stock.

Analysts Set New Price Targets

MARA has been the topic of several recent analyst reports. Compass Point upgraded shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Monday, November 24th. JPMorgan Chase & Co. dropped their target price on shares of Marathon Digital from $20.00 to $13.00 and set an “overweight” rating on the stock in a research report on Monday, November 24th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Marathon Digital in a research note on Monday, December 29th. Rosenblatt Securities reduced their price target on shares of Marathon Digital from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Finally, Macquarie raised their price objective on Marathon Digital from $26.00 to $29.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.44.

Marathon Digital Stock Up 2.0%

Shares of NASDAQ:MARA opened at $10.50 on Friday. Marathon Digital Holdings, Inc. has a 1-year low of $8.95 and a 1-year high of $23.45. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.09 and a quick ratio of 2.09. The stock has a market cap of $3.97 billion, a P/E ratio of 5.83 and a beta of 5.34. The firm has a fifty day moving average price of $10.75 and a 200 day moving average price of $15.07.

Marathon Digital (NASDAQ:MARA) last announced its earnings results on Tuesday, November 4th. The business services provider reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $254.58 million. Sell-side analysts predict that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

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.