BI Asset Management Fondsmaeglerselskab A S Makes New Investment in Marathon Digital Holdings, Inc. $MARA

BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 296,390 shares of the business services provider’s stock, valued at approximately $5,412,000. BI Asset Management Fondsmaeglerselskab A S owned about 0.08% of Marathon Digital at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in MARA. Mutual Advisors LLC bought a new stake in shares of Marathon Digital in the third quarter worth $1,771,000. Thrivent Financial for Lutherans boosted its stake in Marathon Digital by 3.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 267,260 shares of the business services provider’s stock valued at $4,880,000 after acquiring an additional 8,482 shares during the last quarter. Independent Advisor Alliance acquired a new position in Marathon Digital during the 3rd quarter worth $203,000. AlphaQuest LLC increased its position in shares of Marathon Digital by 164.5% in the 3rd quarter. AlphaQuest LLC now owns 23,573 shares of the business services provider’s stock worth $430,000 after purchasing an additional 14,660 shares during the last quarter. Finally, Arizona State Retirement System increased its position in shares of Marathon Digital by 3.2% in the 3rd quarter. Arizona State Retirement System now owns 104,139 shares of the business services provider’s stock worth $1,902,000 after purchasing an additional 3,249 shares during the last quarter. Institutional investors and hedge funds own 44.53% of the company’s stock.

Insider Buying and Selling

In other news, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $10.80, for a total transaction of $297,054.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Zabi Nowaid sold 25,113 shares of the stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $15.87, for a total transaction of $398,543.31. Following the completion of the sale, the general counsel directly owned 723,136 shares in the company, valued at approximately $11,476,168.32. This trade represents a 3.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 178,092 shares of company stock worth $2,153,321 in the last three months. 0.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MARA. Rosenblatt Securities decreased their price target on Marathon Digital from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. JPMorgan Chase & Co. reduced their target price on Marathon Digital from $20.00 to $13.00 and set an “overweight” rating on the stock in a report on Monday, November 24th. Weiss Ratings lowered Marathon Digital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday. Piper Sandler lowered their price target on Marathon Digital from $26.00 to $16.00 and set an “overweight” rating for the company in a report on Wednesday, January 14th. Finally, Macquarie Infrastructure raised their price objective on Marathon Digital from $26.00 to $29.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Eight equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Marathon Digital currently has a consensus rating of “Moderate Buy” and an average target price of $22.44.

Marathon Digital Stock Performance

Shares of MARA stock opened at $8.24 on Friday. The company has a market cap of $3.12 billion, a P/E ratio of 4.58 and a beta of 5.56. The business has a 50 day moving average of $10.36 and a two-hundred day moving average of $14.39. Marathon Digital Holdings, Inc. has a 52 week low of $6.66 and a 52 week high of $23.45. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.63.

Marathon Digital (NASDAQ:MARA) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $254.58 million. As a group, analysts anticipate 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.