Algert Global LLC Raises Stake in Marathon Digital Holdings, Inc. $MARA

Key Points

• Algert Global LLC increased its stake in Marathon Digital Holdings by 20.2%, acquiring an additional 46,872 shares, bringing its total ownership to 279,474 shares valued at approximately $3.21 million.
• Marathon Digital has recently been active in the market, with several significant investors including American Century Companies Inc. increasing their holdings by over 55% during the same period.
• The company's stock has seen increased analyst confidence, with multiple firms setting buy ratings and price targets ranging from $20.00 to $28.00, giving it an average price target of $24.22.

Algert Global LLC lifted its holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 20.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 279,474 shares of the business services provider's stock after purchasing an additional 46,872 shares during the period. Algert Global LLC owned about 0.08% of Marathon Digital worth $3,214,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Marathon Digital by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 39,811,453 shares of the business services provider's stock worth $457,832,000 after acquiring an additional 1,028,512 shares in the last quarter. American Century Companies Inc. increased its holdings in Marathon Digital by 55.7% in the 1st quarter. American Century Companies Inc. now owns 6,289,953 shares of the business services provider's stock worth $72,334,000 after acquiring an additional 2,250,082 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Marathon Digital by 9.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,322,618 shares of the business services provider's stock worth $38,210,000 after acquiring an additional 294,161 shares in the last quarter. Northern Trust Corp increased its holdings in Marathon Digital by 18.1% in the 4th quarter. Northern Trust Corp now owns 3,293,531 shares of the business services provider's stock worth $55,233,000 after acquiring an additional 504,142 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Marathon Digital by 3.3% in the 1st quarter. Bank of New York Mellon Corp now owns 2,108,303 shares of the business services provider's stock worth $24,245,000 after acquiring an additional 67,838 shares in the last quarter. 44.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Marathon Digital

In other news, CFO Salman Hassan Khan sold 34,732 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $15.73, for a total transaction of $546,334.36. Following the completion of the transaction, the chief financial officer directly owned 353,160 shares of the company's stock, valued at $5,555,206.80. This represents a 8.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $15.28, for a total value of $420,276.40. Following the completion of the transaction, the chief executive officer directly owned 3,810,799 shares of the company's stock, valued at approximately $58,229,008.72. This represents a 0.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 189,712 shares of company stock worth $3,186,128. Insiders own 0.80% of the company's stock.

Marathon Digital Stock Up 5.0%

Shares of Marathon Digital stock traded up $0.78 during trading on Friday, reaching $16.29. The company's stock had a trading volume of 79,007,522 shares, compared to its average volume of 42,415,762. Marathon Digital Holdings, Inc. has a 1-year low of $9.81 and a 1-year high of $30.28. The company has a 50-day simple moving average of $16.55 and a two-hundred day simple moving average of $15.03. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.47. The company has a market cap of $6.03 billion, a price-to-earnings ratio of 14.68 and a beta of 6.24.

Marathon Digital (NASDAQ:MARA - Get Free Report) last announced its earnings results on Tuesday, July 29th. The business services provider reported $1.84 earnings per share for the quarter, topping the consensus estimate of ($0.29) by $2.13. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%.The firm had revenue of $238.50 million for the quarter, compared to the consensus estimate of $212.25 million. During the same period in the previous year, the business earned ($0.72) EPS. The firm's revenue for the quarter was up 64.0% on a year-over-year basis. As a group, equities analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MARA shares. Rosenblatt Securities reaffirmed a "buy" rating and set a $20.00 price objective on shares of Marathon Digital in a report on Wednesday, July 30th. Piper Sandler raised their target price on shares of Marathon Digital from $23.00 to $26.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Compass Point upgraded Marathon Digital from a "sell" rating to a "neutral" rating and raised their price target for the stock from $9.50 to $18.00 in a research report on Friday, July 25th. JPMorgan Chase & Co. upgraded Marathon Digital from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $19.00 to $22.00 in a research report on Monday, July 28th. Finally, Macquarie raised their price target on Marathon Digital from $19.00 to $26.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Marathon Digital currently has an average rating of "Moderate Buy" and a consensus price target of $24.22.

Marathon Digital Profile

MARA Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.