Intech Investment Management LLC Acquires 76,670 Shares of Marathon Digital Holdings, Inc. $MARA

Intech Investment Management LLC grew its holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 56.2% during the 4th quarter, HoldingsChannel reports. The firm owned 213,066 shares of the business services provider’s stock after purchasing an additional 76,670 shares during the quarter. Intech Investment Management LLC’s holdings in Marathon Digital were worth $1,913,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of MARA. Integrated Wealth Concepts LLC increased its stake in shares of Marathon Digital by 9.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider’s stock valued at $127,000 after purchasing an additional 991 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Marathon Digital by 65.3% in the 1st quarter. NewEdge Advisors LLC now owns 7,672 shares of the business services provider’s stock valued at $88,000 after purchasing an additional 3,032 shares during the last quarter. United Services Automobile Association increased its stake in shares of Marathon Digital by 8.2% in the 1st quarter. United Services Automobile Association now owns 20,634 shares of the business services provider’s stock valued at $257,000 after purchasing an additional 1,569 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Marathon Digital by 11.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 643,311 shares of the business services provider’s stock valued at $7,398,000 after purchasing an additional 63,903 shares during the last quarter. Finally, Envestnet Asset Management Inc. bought a new position in shares of Marathon Digital in the 2nd quarter valued at $183,000. Institutional investors own 44.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MARA shares. Weiss Ratings lowered Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, May 12th. Morgan Stanley reduced their price objective on Marathon Digital from $8.50 to $7.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 19th. HC Wainwright restated a “neutral” rating on shares of Marathon Digital in a research report on Friday, February 27th. Cantor Fitzgerald reduced their price objective on Marathon Digital from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Finally, BTIG Research restated a “buy” rating and set a $27.00 price objective on shares of Marathon Digital in a research report on Monday. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Marathon Digital currently has an average rating of “Hold” and an average target price of $18.38.

Insiders Place Their Bets

In other Marathon Digital news, General Counsel Zabi Nowaid sold 42,090 shares of Marathon Digital stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $12.00, for a total transaction of $505,080.00. Following the transaction, the general counsel directly owned 1,007,047 shares of the company’s stock, valued at approximately $12,084,564. The trade was a 4.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Salman Hassan Khan sold 16,000 shares of Marathon Digital 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 transaction, the chief financial officer directly owned 441,066 shares in the company, valued at $5,151,650.88. The trade was a 3.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In 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 company insiders.

Marathon Digital Trading Down 2.2%

Shares of MARA stock opened at $13.96 on Thursday. The firm has a market capitalization of $5.32 billion, a P/E ratio of -2.44 and a beta of 5.38. Marathon Digital Holdings, Inc. has a twelve month low of $6.66 and a twelve month high of $23.45. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.99. The stock’s fifty day simple moving average is $11.46 and its 200 day simple moving average is $10.39.

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.