Marathon Digital Holdings, Inc. $MARA Shares Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd increased its position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 259.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 709,473 shares of the business services provider’s stock after purchasing an additional 511,879 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Marathon Digital were worth $12,955,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in MARA. Integrated Wealth Concepts LLC raised its stake 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 worth $127,000 after buying an additional 991 shares in the last quarter. NewEdge Advisors LLC grew 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 during the period. United Services Automobile Association grew its holdings 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 acquiring an additional 1,569 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Marathon Digital by 11.0% in 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 worth $7,398,000 after acquiring an additional 63,903 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Marathon Digital by 37.1% in the second quarter. GAMMA Investing LLC now owns 12,372 shares of the business services provider’s stock valued at $194,000 after acquiring an additional 3,348 shares during the period. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Marathon Digital Stock Up 2.0%

Shares of NASDAQ MARA opened at $10.50 on Friday. The firm’s 50-day moving average is $10.75 and its two-hundred day moving average is $15.07. The company has a market capitalization of $3.97 billion, a PE 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. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.09 and a quick ratio of 2.09.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price target 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. Compass Point raised shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Monday, November 24th. Cantor Fitzgerald dropped their target price on shares of Marathon Digital from $30.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Rosenblatt Securities reduced their price target on shares of Marathon Digital from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Finally, Piper Sandler lowered their price target on Marathon Digital from $26.00 to $16.00 and set an “overweight” rating on the stock in a report on Wednesday, January 14th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.44.

Insider Transactions at Marathon Digital

In other news, CFO Salman Hassan Khan sold 34,732 shares of the company’s stock in a transaction on 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 $3,396,743.02. This represents a 10.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Zabi Nowaid sold 25,113 shares of Marathon Digital stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $15.87, for a total value of $398,543.31. Following the sale, 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 position. The SEC filing for this sale provides additional information. Insiders sold a total of 182,979 shares of company stock valued at $2,234,934 over the last three months. 0.80% of the stock is currently 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.