Compass Rose Asset Management LP Makes New $4.24 Million Investment in Marathon Digital Holdings, Inc. $MARA

Compass Rose Asset Management LP acquired a new stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 520,000 shares of the business services provider’s stock, valued at approximately $4,243,000. Marathon Digital makes up about 0.3% of Compass Rose Asset Management LP’s portfolio, making the stock its 15th largest holding. Compass Rose Asset Management LP owned approximately 0.14% of Marathon Digital at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MARA. Massachusetts Financial Services Co. MA bought a new position in shares of Marathon Digital in the 4th quarter worth $10,201,000. Exchange Traded Concepts LLC boosted its position in Marathon Digital by 47.3% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,539,210 shares of the business services provider’s stock valued at $13,822,000 after purchasing an additional 494,161 shares in the last quarter. New York State Teachers Retirement System grew its stake in Marathon Digital by 28.9% in the fourth quarter. New York State Teachers Retirement System now owns 427,726 shares of the business services provider’s stock valued at $3,841,000 after purchasing an additional 95,970 shares during the last quarter. Vanguard Group Inc. grew its stake in Marathon Digital by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 46,706,277 shares of the business services provider’s stock valued at $419,422,000 after purchasing an additional 1,394,559 shares during the last quarter. Finally, Handelsbanken Fonder AB bought a new position in Marathon Digital in the fourth quarter worth about $831,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $14.25, for a total transaction of $391,946.25. Following the sale, the chief executive officer owned 4,562,009 shares in the company, valued at approximately $65,008,628.25. The trade was a 0.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Zabi Nowaid sold 7,000 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $14.25, for a total transaction of $99,750.00. Following the completion of the transaction, the general counsel directly owned 963,768 shares of the company’s stock, valued at $13,733,694. The trade was a 0.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 109,260 shares of company stock worth $1,452,756 in the last three months. Insiders own 0.97% of the company’s stock.

Marathon Digital Stock Up 2.9%

Shares of MARA stock opened at $12.77 on Friday. The stock’s fifty day moving average price is $13.30 and its 200 day moving average price is $10.98. Marathon Digital Holdings, Inc. has a 1-year low of $6.66 and a 1-year high of $23.45. The company has a market cap of $4.87 billion, a price-to-earnings ratio of -2.23 and a beta of 5.36. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.84 and a quick ratio of 1.84.

Analyst Ratings Changes

Several analysts have commented on the stock. Cantor Fitzgerald decreased their price target on shares of Marathon Digital from $11.00 to $10.00 and set an “overweight” rating for the company in a research 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 stock a “buy” rating in a research report on Friday, May 1st. BTIG Research reiterated a “buy” rating and set a $27.00 price objective on shares of Marathon Digital in a research note on Monday, June 1st. Piper Sandler reduced their price objective on shares of Marathon Digital from $16.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, July 17th. Finally, Weiss Ratings cut shares of Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, May 12th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.50.

Marathon Digital Company 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.