Clear Creek Financial Management LLC Purchases New Shares in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Clear Creek Financial Management LLC purchased a new position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,475 shares of the business services provider's stock, valued at approximately $178,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Marathon Digital in the fourth quarter valued at about $46,413,000. Vanguard Group Inc. increased its position in shares of Marathon Digital by 7.5% during the fourth quarter. Vanguard Group Inc. now owns 38,782,941 shares of the business services provider's stock valued at $650,390,000 after acquiring an additional 2,706,271 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Marathon Digital by 192.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,897,200 shares of the business services provider's stock valued at $31,817,000 after acquiring an additional 1,248,292 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Marathon Digital by 44.3% in the fourth quarter. American Century Companies Inc. now owns 4,039,871 shares of the business services provider's stock valued at $67,749,000 after purchasing an additional 1,240,354 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Marathon Digital in the fourth quarter valued at approximately $13,416,000. 44.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Marathon Digital

In related news, Director Douglas K. Mellinger sold 3,000 shares of the company's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $16.00, for a total transaction of $48,000.00. Following the completion of the transaction, the director owned 176,859 shares of the company's stock, valued at approximately $2,829,744. This represents a 1.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Salman Hassan Khan sold 34,733 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $15.85, for a total transaction of $550,518.05. Following the completion of the sale, the chief financial officer directly owned 1,413,298 shares of the company's stock, valued at $22,400,773.30. The trade was a 2.40% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 198,853 shares of company stock valued at $3,054,629. Company insiders own 0.80% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Piper Sandler lowered their price objective on shares of Marathon Digital from $30.00 to $23.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Compass Point reaffirmed a "sell" rating and issued a $9.50 target price (down from $25.00) on shares of Marathon Digital in a report on Tuesday, May 6th. Barclays lifted their target price on shares of Marathon Digital from $14.00 to $16.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. JPMorgan Chase & Co. boosted their price objective on shares of Marathon Digital from $18.00 to $19.00 and gave the company a "neutral" rating in a research note on Friday, June 13th. Finally, HC Wainwright reissued a "buy" rating and issued a $28.00 price objective on shares of Marathon Digital in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $20.94.

Marathon Digital Price Performance

Shares of NASDAQ MARA traded down $0.08 on Friday, hitting $17.72. The company's stock had a trading volume of 32,142,502 shares, compared to its average volume of 45,182,762. Marathon Digital Holdings, Inc. has a 12-month low of $9.81 and a 12-month high of $30.28. The company has a market capitalization of $6.24 billion, a price-to-earnings ratio of -12.22 and a beta of 6.53. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a 50 day moving average of $15.23 and a 200-day moving average of $15.41.

Marathon Digital (NASDAQ:MARA - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The business services provider reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.06). The firm had revenue of $213.88 million for the quarter, compared to analysts' expectations of $234.19 million. Marathon Digital had a negative net margin of 46.68% and a positive return on equity of 6.33%. The business's quarterly revenue was up 29.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.26 EPS. As a group, research analysts predict that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Marathon Digital Company 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.