54,592 Shares in Marathon Digital Holdings, Inc. $MARA Bought by Paradiem LLC

Paradiem LLC bought a new position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) during the third quarter, HoldingsChannel.com reports. The firm bought 54,592 shares of the business services provider’s stock, valued at approximately $997,000.

Several other large investors also recently bought and sold shares of MARA. Bank of New York Mellon Corp raised its stake in shares of Marathon Digital by 8.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,286,074 shares of the business services provider’s stock worth $35,846,000 after buying an additional 177,771 shares during the last quarter. Emerald Advisers LLC grew its stake in Marathon Digital by 77.4% in the 2nd quarter. Emerald Advisers LLC now owns 579,571 shares of the business services provider’s stock valued at $9,088,000 after acquiring an additional 252,864 shares during the last quarter. Emerald Mutual Fund Advisers Trust increased its holdings in Marathon Digital by 91.3% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 347,214 shares of the business services provider’s stock valued at $5,444,000 after acquiring an additional 165,688 shares in the last quarter. Intech Investment Management LLC increased its holdings in Marathon Digital by 14.5% during the 1st quarter. Intech Investment Management LLC now owns 160,717 shares of the business services provider’s stock valued at $1,848,000 after acquiring an additional 20,413 shares in the last quarter. Finally, New York State Teachers Retirement System raised its position in Marathon Digital by 12.0% during the second quarter. New York State Teachers Retirement System now owns 318,656 shares of the business services provider’s stock worth $4,997,000 after acquiring an additional 34,100 shares during the last quarter. Institutional investors and hedge funds own 44.53% of the company’s stock.

Insider Activity

In other Marathon Digital news, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $10.77, for a total value of $296,228.85. Following the sale, the chief executive officer directly owned 3,555,489 shares of the company’s stock, valued at approximately $38,292,616.53. This trade represents a 0.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Salman Hassan Khan sold 34,732 shares of Marathon Digital stock in a transaction dated 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 $2,853,537.68. This trade represents a 12.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 218,711 shares of company stock valued at $3,286,669 over the last quarter. Company insiders own 0.80% of the company’s stock.

Wall Street Analysts Forecast Growth

MARA has been the topic of several research reports. BTIG Research reiterated a “buy” rating and issued a $27.00 price target on shares of Marathon Digital in a research report on Friday, September 5th. Compass Point raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Monday, November 24th. Guggenheim initiated coverage on Marathon Digital in a research report on Tuesday, October 21st. They set a “neutral” rating for the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Marathon Digital in a report on Monday, December 22nd. Finally, Rosenblatt Securities reduced their price objective on Marathon Digital from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.56.

Marathon Digital Stock Performance

Shares of MARA opened at $9.59 on Friday. Marathon Digital Holdings, Inc. has a 1 year low of $9.43 and a 1 year high of $23.45. The company’s 50 day simple moving average is $13.53 and its 200 day simple moving average is $15.81. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of 5.33 and a beta of 5.42. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.09 and a current ratio of 2.09.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings results on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.06). Marathon Digital had a net margin of 100.82% and a negative return on equity of 2.59%. The business had revenue of $252.41 million during the quarter, compared to analyst estimates of $254.58 million. On average, sell-side analysts predict that Marathon Digital Holdings, Inc. will post -1.04 EPS 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.