Massachusetts Financial Services Co. MA Makes New $10.20 Million Investment in Marathon Digital Holdings, Inc. $MARA

Massachusetts Financial Services Co. MA acquired a new position in Marathon Digital Holdings, Inc. (NASDAQ:MARA) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,135,956 shares of the business services provider’s stock, valued at approximately $10,201,000.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Marathon Digital by 9.8% in the third quarter. Vanguard Group Inc. now owns 45,311,718 shares of the business services provider’s stock worth $827,392,000 after purchasing an additional 4,049,979 shares during the last quarter. State Street Corp lifted its stake in Marathon Digital by 1.4% in the second 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 during the last quarter. UBS Group AG lifted its stake in Marathon Digital by 104.1% in the third 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 during the last quarter. Voloridge Investment Management LLC bought a new stake in Marathon Digital in the third quarter worth about $93,066,000. Finally, Capital Research Global Investors bought a new stake in Marathon Digital in the third quarter worth about $68,090,000. Institutional investors own 44.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MARA shares. Weiss Ratings downgraded shares of Marathon Digital from a “hold (c-)” rating to a “sell (d)” rating in a research note on Friday, March 6th. HC Wainwright reissued a “neutral” rating on shares of Marathon Digital in a research note on Friday, February 27th. Piper Sandler decreased their price objective on shares of Marathon Digital from $26.00 to $16.00 and set an “overweight” rating for the company in a research note on Wednesday, January 14th. Cantor Fitzgerald decreased their price objective 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. Finally, Morgan Stanley started coverage on shares of Marathon Digital in a research note on Monday, February 9th. They set an “underweight” rating and a $8.00 price target for the company. Seven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $19.90.

Insider Activity at Marathon Digital

In other news, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $9.18, for a total transaction of $252,495.90. Following the completion of the sale, the chief executive officer owned 4,788,954 shares of the company’s stock, valued at approximately $43,962,597.72. The trade was a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Salman Hassan Khan sold 16,000 shares of Marathon Digital stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $9.18, for a total transaction of $146,880.00. Following the sale, the chief financial officer directly owned 343,165 shares of the company’s stock, valued at $3,150,254.70. This represents a 4.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 114,515 shares of company stock valued at $1,029,678 in the last ninety days. Insiders own 0.80% of the company’s stock.

Marathon Digital Stock Performance

Marathon Digital stock opened at $11.55 on Friday. The company has a 50 day moving average price of $8.67 and a 200-day moving average price of $11.79. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.27 and a current ratio of 1.27. Marathon Digital Holdings, Inc. has a fifty-two week low of $6.66 and a fifty-two week high of $23.45. The company has a market capitalization of $4.39 billion, a PE ratio of -2.92 and a beta of 5.29.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings results on Thursday, February 26th. The business services provider reported ($4.52) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($4.29). Marathon Digital had a negative net margin of 144.58% and a negative return on equity of 19.01%. The company had revenue of $202.31 million for the quarter, compared to the consensus estimate of $250.74 million. During the same period in the prior year, the firm posted $1.24 EPS. The business’s revenue was down 5.6% on a year-over-year basis. As a group, equities analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

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.