1,880,100 Shares in Marathon Digital Holdings, Inc. $MARA Bought by Clear Street Group Inc.

Clear Street Group Inc. purchased a new stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,880,100 shares of the business services provider’s stock, valued at approximately $34,331,000. Clear Street Group Inc. owned about 0.50% of Marathon Digital at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Hollencrest Capital Management raised its position in shares of Marathon Digital by 2,407.4% in the 3rd quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider’s stock worth $25,000 after acquiring an additional 1,300 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of Marathon Digital by 56.8% in the 3rd quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 659 shares during the period. Estabrook Capital Management bought a new stake in shares of Marathon Digital during the 2nd quarter valued at about $31,000. Salomon & Ludwin LLC acquired a new stake in Marathon Digital during the third quarter worth approximately $47,000. Finally, Neo Ivy Capital Management acquired a new stake in Marathon Digital during the third quarter worth approximately $79,000. 44.53% of the stock is currently owned by institutional investors and hedge funds.

Marathon Digital Stock Up 6.4%

MARA stock opened at $9.32 on Friday. The stock’s 50 day simple moving average is $9.17 and its 200 day simple moving average is $13.00. The company has a market cap of $3.54 billion, a P/E ratio of -2.35 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 fifty-two week low of $6.66 and a fifty-two week high of $23.45.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings data on Thursday, February 26th. The business services provider reported ($4.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($4.29). The firm had revenue of $202.31 million during the quarter, compared to analyst estimates of $250.74 million. Marathon Digital had a negative net margin of 144.58% and a negative return on equity of 19.01%. The company’s revenue was down 5.6% on a year-over-year basis. During the same period last year, the business posted $1.24 EPS. On average, research analysts expect that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Salman Hassan Khan sold 34,732 shares of Marathon Digital 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 completion of the sale, the chief financial officer owned 248,566 shares of the company’s stock, valued at approximately $2,853,537.68. This trade represents a 12.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $10.80, for a total transaction of $297,054.00. Following the sale, the chief executive officer owned 3,517,566 shares of the company’s stock, valued at $37,989,712.80. This trade represents a 0.78% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 133,247 shares of company stock worth $1,325,255. 0.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

MARA has been the topic of several recent analyst reports. Compass Point raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Monday, November 24th. 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 report on Wednesday, January 14th. Morgan Stanley initiated coverage on shares of Marathon Digital in a research note on Monday, February 9th. They issued an “underweight” rating and a $8.00 price objective for the company. Weiss Ratings downgraded shares of Marathon Digital from a “hold (c-)” rating to a “sell (d)” rating in a research report on Friday, March 6th. Finally, JPMorgan Chase & Co. cut their target price on shares of Marathon Digital from $20.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday, November 24th. Seven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Marathon Digital currently has a consensus rating of “Hold” and a consensus target price of $20.00.

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.