Simplicity Wealth LLC Acquires New Holdings in Marathon Digital Holdings, Inc. $MARA

Simplicity Wealth LLC bought a new position in Marathon Digital Holdings, Inc. (NASDAQ:MARA) in the 3rd quarter, Holdings Channel.com reports. The fund bought 51,620 shares of the business services provider’s stock, valued at approximately $943,000.

Several other hedge funds also recently modified their holdings of MARA. Integrated Wealth Concepts LLC raised its holdings in shares of Marathon Digital by 9.8% during 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 in the last quarter. NewEdge Advisors LLC increased its position in Marathon Digital by 65.3% during the first quarter. NewEdge Advisors LLC now owns 7,672 shares of the business services provider’s stock worth $88,000 after buying an additional 3,032 shares during the last quarter. United Services Automobile Association increased its position in Marathon Digital by 8.2% during the first quarter. United Services Automobile Association now owns 20,634 shares of the business services provider’s stock worth $257,000 after buying an additional 1,569 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Marathon Digital by 11.0% during the first 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 buying an additional 63,903 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Marathon Digital by 37.1% during the second quarter. GAMMA Investing LLC now owns 12,372 shares of the business services provider’s stock valued at $194,000 after buying an additional 3,348 shares in the last quarter. Institutional investors and hedge funds own 44.53% of the company’s stock.

Insider Activity at Marathon Digital

In other news, General Counsel Zabi Nowaid sold 25,113 shares of the company’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $15.87, for a total transaction of $398,543.31. Following the completion of the transaction, the general counsel owned 723,136 shares of the company’s stock, valued at approximately $11,476,168.32. This represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Salman Hassan Khan sold 34,732 shares of Marathon Digital stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $11.99, for a total value of $416,436.68. Following the sale, the chief financial officer directly owned 283,298 shares in the company, valued at approximately $3,396,743.02. This trade represents a 10.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 182,979 shares of company stock worth $2,234,934 in the last ninety days. 0.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on MARA. Rosenblatt Securities lowered their price objective on Marathon Digital from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Macquarie upped their target price on Marathon Digital from $26.00 to $29.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Guggenheim assumed coverage on Marathon Digital in a report on Tuesday, October 21st. They set a “neutral” rating on the stock. Piper Sandler reduced 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. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Marathon Digital in a report on Monday, December 29th. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $22.44.

Marathon Digital Stock Performance

MARA opened at $10.50 on Friday. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.63. The stock’s 50 day moving average price is $10.75 and its two-hundred day moving average price is $15.07. The firm has a market capitalization of $3.97 billion, a P/E ratio of 5.83 and a beta of 5.34. Marathon Digital Holdings, Inc. has a 12-month low of $8.95 and a 12-month high of $23.45.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings results on Tuesday, November 4th. The business services provider reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.06). The business had revenue of $252.41 million for the quarter, compared to analyst estimates of $254.58 million. Marathon Digital had a negative return on equity of 2.59% and a net margin of 100.82%. On average, 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.