WINTON GROUP Ltd Buys New Shares in Marathon Digital Holdings, Inc. $MARA

WINTON GROUP Ltd purchased a new stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 254,276 shares of the business services provider’s stock, valued at approximately $4,643,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MARA. Integrated Wealth Concepts LLC grew its holdings 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 acquiring an additional 991 shares in the last quarter. NewEdge Advisors LLC raised its holdings 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 acquiring an additional 3,032 shares in the last quarter. United Services Automobile Association boosted 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 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 boosted its position 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 purchasing an additional 63,903 shares during the last quarter. Finally, Envestnet Asset Management Inc. bought a new position in Marathon Digital in the second quarter valued at approximately $183,000. 44.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MARA. HC Wainwright reaffirmed a “neutral” rating on shares of Marathon Digital in a research report on Friday, February 27th. Cantor Fitzgerald cut their price objective on Marathon Digital from $21.00 to $11.00 and set an “overweight” rating for the company in a report on Friday, February 27th. Weiss Ratings cut shares of Marathon Digital from a “hold (c-)” rating to a “sell (d)” rating in a research note on Friday. Compass Point upgraded shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Monday, November 24th. Finally, Piper Sandler dropped their price target on shares of Marathon Digital from $26.00 to $16.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 14th. Seven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $20.00.

Marathon Digital Trading Up 8.1%

Marathon Digital stock opened at $8.66 on Tuesday. The stock has a 50-day simple moving average of $9.21 and a 200 day simple moving average of $13.17. The stock has a market capitalization of $3.29 billion, a P/E ratio of -2.19 and a beta of 5.51. 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 52 week low of $6.66 and a 52 week high of $23.45.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings data on Thursday, February 26th. The business services provider reported ($4.52) earnings per share (EPS) 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 business had revenue of $202.31 million during the quarter, compared to the consensus estimate of $250.74 million. During the same quarter in the prior year, the company earned $1.24 EPS. Marathon Digital’s quarterly revenue was down 5.6% on a year-over-year basis. Analysts expect that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $10.80, for a total value of $297,054.00. Following the sale, the chief executive officer owned 3,517,566 shares in the company, valued at approximately $37,989,712.80. This represents a 0.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Salman Hassan Khan sold 34,732 shares of the firm’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $11.48, for a total value of $398,723.36. Following the sale, the chief financial officer directly owned 248,566 shares of the company’s stock, valued at $2,853,537.68. This represents a 12.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 133,247 shares of company stock worth $1,325,255 over the last three months. 0.80% of the stock is 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.