BI Asset Management Fondsmaeglerselskab A S Takes Position in Marathon Digital Holdings, Inc. $MARA

BI Asset Management Fondsmaeglerselskab A S acquired a new position in Marathon Digital Holdings, Inc. (NASDAQ:MARA) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 296,390 shares of the business services provider’s stock, valued at approximately $5,412,000.

Other large investors have also recently added to or reduced their stakes in the company. Archer Investment Corp boosted its position in Marathon Digital by 10.9% during the 2nd quarter. Archer Investment Corp now owns 7,650 shares of the business services provider’s stock worth $120,000 after acquiring an additional 750 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Marathon Digital by 3.1% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 29,389 shares of the business services provider’s stock valued at $537,000 after purchasing an additional 882 shares during the period. Ameritas Investment Partners Inc. raised its stake in shares of Marathon Digital by 2.7% during the second quarter. Ameritas Investment Partners Inc. now owns 35,443 shares of the business services provider’s stock valued at $556,000 after purchasing an additional 934 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in Marathon Digital by 9.8% in the first quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider’s stock worth $127,000 after purchasing an additional 991 shares during the period. Finally, AlphaQuest LLC lifted its holdings in Marathon Digital by 16.9% in the second quarter. AlphaQuest LLC now owns 8,913 shares of the business services provider’s stock worth $140,000 after purchasing an additional 1,289 shares during the period. 44.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $10.80, for a total value of $297,054.00. Following the completion of the transaction, the chief executive officer owned 3,517,566 shares in the company, valued at $37,989,712.80. This trade represents a 0.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Salman Hassan Khan sold 34,732 shares of Marathon Digital stock in a transaction dated Monday, December 15th. The stock was 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 $2,853,537.68. This represents a 12.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 178,092 shares of company stock valued at $2,153,321 over the last three months. Insiders own 0.80% of the company’s stock.

Marathon Digital Trading Up 22.4%

Shares of NASDAQ:MARA opened at $8.24 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.09 and a current ratio of 2.09. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of 4.58 and a beta of 5.56. Marathon Digital Holdings, Inc. has a 1-year low of $6.66 and a 1-year high of $23.45. The company has a 50 day moving average price of $10.36 and a 200 day moving average price of $14.39.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings data 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). The company had revenue of $252.41 million for the quarter, compared to analyst estimates of $254.58 million. Marathon Digital had a net margin of 100.82% and a negative return on equity of 2.59%. On average, research analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Guggenheim assumed coverage on shares of Marathon Digital in a research note on Tuesday, October 21st. They set a “neutral” rating on the stock. Weiss Ratings cut shares of Marathon Digital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday. Rosenblatt Securities lowered their price objective on shares of Marathon Digital from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Macquarie Infrastructure upped their target price on Marathon Digital from $26.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Finally, Piper Sandler decreased their price target on Marathon Digital from $26.00 to $16.00 and set an “overweight” rating for the company in a research note on Wednesday, January 14th. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Marathon Digital currently has an average rating of “Moderate Buy” and a consensus target price of $22.44.

Marathon Digital Profile

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.