Public Sector Pension Investment Board Raises Holdings in Marathon Digital Holdings, Inc. $MARA

Public Sector Pension Investment Board boosted its position in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 20.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,445,051 shares of the business services provider’s stock after purchasing an additional 245,222 shares during the quarter. Public Sector Pension Investment Board owned about 0.39% of Marathon Digital worth $26,387,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Marex Group plc acquired a new stake in shares of Marathon Digital in the second quarter valued at about $84,301,000. Norges Bank acquired a new stake in Marathon Digital in the 2nd quarter valued at about $59,255,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in Marathon Digital by 144.1% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,003,747 shares of the business services provider’s stock valued at $15,739,000 after acquiring an additional 592,493 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its stake in Marathon Digital by 259.1% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 709,473 shares of the business services provider’s stock worth $12,955,000 after purchasing an additional 511,879 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Marathon Digital by 7.8% during the 2nd quarter. American Century Companies Inc. now owns 6,781,198 shares of the business services provider’s stock worth $106,329,000 after purchasing an additional 491,245 shares during the last quarter. Institutional investors and hedge funds own 44.53% of the company’s stock.

Marathon Digital Price Performance

Shares of MARA opened at $7.92 on Friday. The firm has a 50-day simple moving average of $9.93 and a two-hundred day simple moving average of $14.04. The stock has a market cap of $3.00 billion, a PE ratio of 4.40 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 debt-to-equity ratio of 0.63, a current ratio of 2.09 and a quick ratio of 2.09.

Insiders Place Their Bets

In other news, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $10.80, for a total transaction of $297,054.00. Following the completion of the transaction, the chief executive officer directly owned 3,517,566 shares in the company, valued at $37,989,712.80. This trade represents a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Salman Hassan Khan sold 34,732 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $11.99, for a total value of $416,436.68. Following the completion of the sale, the chief financial officer owned 283,298 shares in the company, valued at $3,396,743.02. This represents a 10.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 151,979 shares of company stock worth $1,738,228 over the last 90 days. 0.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MARA shares. Cantor Fitzgerald cut 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. Weiss Ratings cut shares of Marathon Digital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, February 5th. Piper Sandler dropped their price objective on shares of Marathon Digital from $26.00 to $16.00 and set an “overweight” rating for the company in a report on Wednesday, January 14th. JPMorgan Chase & Co. reduced 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 note on Monday, November 24th. Finally, Rosenblatt Securities decreased their target price on shares of Marathon Digital from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $21.00.

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.