American Century Companies Inc. Purchases 491,245 Shares of Marathon Digital Holdings, Inc. $MARA

American Century Companies Inc. grew its position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 7.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,781,198 shares of the business services provider's stock after purchasing an additional 491,245 shares during the period. American Century Companies Inc. owned about 1.83% of Marathon Digital worth $106,329,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its position in Marathon Digital by 8.4% in 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 position in Marathon Digital by 77.4% during the second 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 raised its stake in shares of Marathon Digital by 91.3% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 347,214 shares of the business services provider's stock worth $5,444,000 after acquiring an additional 165,688 shares in the last quarter. Intech Investment Management LLC raised its stake in shares of Marathon Digital by 14.5% during the first quarter. Intech Investment Management LLC now owns 160,717 shares of the business services provider's stock worth $1,848,000 after acquiring an additional 20,413 shares in the last quarter. Finally, New York State Teachers Retirement System lifted its holdings in shares of Marathon Digital by 12.0% in the 2nd 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. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

Marathon Digital Price Performance

Shares of MARA stock opened at $11.17 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 0.54. Marathon Digital Holdings, Inc. has a fifty-two week low of $9.71 and a fifty-two week high of $30.28. The firm has a market cap of $4.22 billion, a P/E ratio of 10.06 and a beta of 6.40. The business's 50 day moving average price is $17.20 and its 200-day moving average price is $16.54.

Marathon Digital (NASDAQ:MARA - Get Free Report) last announced its earnings results on Tuesday, November 4th. The business services provider reported ($0.32) EPS for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.06). The business had revenue of $252.41 million for the quarter, compared to the consensus estimate of $254.58 million. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. On average, equities research analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Analysts Set New Price Targets

MARA has been the topic of several recent research reports. Cantor Fitzgerald reduced their target price on shares of Marathon Digital from $30.00 to $21.00 and set an "overweight" rating on the stock in a report on Wednesday, November 5th. Rosenblatt Securities cut 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. BTIG Research reaffirmed a "buy" rating and set a $27.00 price objective on shares of Marathon Digital in a research note on Friday, September 5th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Marathon Digital in a report on Monday. Finally, Guggenheim initiated coverage on Marathon Digital in a research note on Tuesday, October 21st. They issued a "neutral" rating for the company. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Marathon Digital currently has a consensus rating of "Moderate Buy" and an average target price of $23.50.

Insider Activity at Marathon Digital

In related news, CFO Salman Hassan Khan sold 34,732 shares of the business's stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $11.99, for a total transaction of $416,436.68. Following the transaction, the chief financial officer owned 283,298 shares in the company, valued at $3,396,743.02. The trade was a 10.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $17.38, for a total transaction of $478,036.90. Following the completion of the transaction, the chief executive officer directly owned 3,755,789 shares of the company's stock, valued at approximately $65,275,612.82. The trade was a 0.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 234,598 shares of company stock valued at $3,876,481 over the last quarter. Company insiders own 0.80% of the company's stock.

About Marathon Digital

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.

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