Norges Bank purchased a new stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA – Free Report) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 4,397,792 shares of the business services provider’s stock, valued at approximately $39,492,000.
Other institutional investors have also recently made changes to their positions in the company. Bessemer Group Inc. increased its stake in shares of Marathon Digital by 56.8% during the third quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock valued at $33,000 after buying an additional 659 shares during the period. Danske Bank A S purchased a new position in shares of Marathon Digital during the third quarter valued at $55,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of Marathon Digital during the fourth quarter valued at $36,000. Neo Ivy Capital Management purchased a new position in shares of Marathon Digital during the third quarter valued at $79,000. Finally, Osaic Holdings Inc. increased its stake in shares of Marathon Digital by 38.6% during the second quarter. Osaic Holdings Inc. now owns 4,816 shares of the business services provider’s stock valued at $76,000 after buying an additional 1,340 shares during the period. Hedge funds and other institutional investors own 44.53% of the company’s stock.
Analyst Ratings Changes
MARA has been the topic of several research reports. Morgan Stanley cut their price target on Marathon Digital from $8.50 to $7.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 19th. Cantor Fitzgerald cut their price objective on shares of Marathon Digital from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Rosenblatt Securities lifted their price objective on shares of Marathon Digital from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, May 1st. Weiss Ratings lowered shares of Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, May 12th. Finally, HC Wainwright reissued a “neutral” rating on shares of Marathon Digital in a report on Friday, February 27th. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $18.38.
Marathon Digital Price Performance
NASDAQ MARA opened at $13.78 on Tuesday. The firm’s fifty day simple moving average is $11.76 and its two-hundred day simple moving average is $10.42. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.99. Marathon Digital Holdings, Inc. has a 12-month low of $6.66 and a 12-month high of $23.45. The firm has a market capitalization of $5.25 billion, a P/E ratio of -2.41 and a beta of 5.38.
Insiders Place Their Bets
In other Marathon Digital news, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $9.18, for a total value of $252,495.90. Following the transaction, the chief executive officer directly 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Salman Hassan Khan sold 16,000 shares of the business’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $11.68, for a total value of $186,880.00. Following the sale, the chief financial officer owned 441,066 shares in the company, valued at $5,151,650.88. The trade was a 3.50% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 180,855 shares of company stock valued at $2,033,654. 0.80% of the stock is currently owned by insiders.
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.
Featured Articles
- Five stocks we like better than Marathon Digital
- 3 Stocks With Fresh Catalysts to Watch Before the July 4
- Amprius Insiders Are Selling: Should Investors Be Worried?
- A Weaker Dollar Could Put These 3 Industrial Stocks Back in Focus
- A Market Rotation Toward Quality Will Benefit These 3 ETFs
Want to see what other hedge funds are holding MARA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Digital Holdings, Inc. (NASDAQ:MARA – Free Report).
Receive News & Ratings for Marathon Digital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marathon Digital and related companies with MarketBeat.com's FREE daily email newsletter.
