Corebridge Financial Inc. Has $2.05 Million Stock Position in Marathon Digital Holdings, Inc. $MARA

Key Points

• Corebridge Financial Inc. increased its stake in Marathon Digital Holdings by 16.5%, owning 178,075 shares valued at $2.048 million after acquiring an additional 25,171 shares in the first quarter.
• Several hedge funds, including Janney Montgomery Scott LLC and Mirae Asset Global Investments, have significantly raised their positions in Marathon Digital, reflecting growing institutional interest in the company.
• Marathon Digital reported earnings of $1.84 per share for the last quarter, surpassing estimates, with quarterly revenue rising 64% year-over-year, amounting to $238.5 million.

Corebridge Financial Inc. boosted its position in Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 16.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 178,075 shares of the business services provider's stock after buying an additional 25,171 shares during the quarter. Corebridge Financial Inc. owned approximately 0.05% of Marathon Digital worth $2,048,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Comerica Bank raised its position in Marathon Digital by 316.2% in the 1st quarter. Comerica Bank now owns 468,867 shares of the business services provider's stock valued at $5,392,000 after buying an additional 356,219 shares during the last quarter. MetLife Investment Management LLC raised its position in Marathon Digital by 16.4% in the 1st quarter. MetLife Investment Management LLC now owns 198,220 shares of the business services provider's stock valued at $2,280,000 after buying an additional 27,900 shares during the last quarter. Jump Financial LLC acquired a new stake in Marathon Digital in the 1st quarter valued at approximately $154,000. Banco Bilbao Vizcaya Argentaria S.A. raised its position in Marathon Digital by 30.8% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 117,167 shares of the business services provider's stock valued at $1,398,000 after buying an additional 27,584 shares during the last quarter. Finally, Groupama Asset Managment bought a new position in Marathon Digital in the first quarter valued at approximately $4,600,000. Institutional investors and hedge funds own 44.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MARA. Compass Point upgraded Marathon Digital from a "sell" rating to a "neutral" rating and raised their price target for the company from $9.50 to $18.00 in a research note on Friday, July 25th. Macquarie lifted their target price on Marathon Digital from $19.00 to $26.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Rosenblatt Securities reiterated a "buy" rating and set a $20.00 target price on shares of Marathon Digital in a research note on Wednesday, July 30th. JPMorgan Chase & Co. upgraded Marathon Digital from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $19.00 to $22.00 in a research note on Monday, July 28th. Finally, Cantor Fitzgerald lifted their target price on Marathon Digital from $34.00 to $39.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $24.22.

Marathon Digital Stock Performance

NASDAQ:MARA traded down $0.78 during mid-day trading on Thursday, hitting $15.11. 53,099,219 shares of the stock were exchanged, compared to its average volume of 43,058,043. The stock has a market capitalization of $5.60 billion, a price-to-earnings ratio of 13.61 and a beta of 6.35. The firm's 50-day simple moving average is $16.77 and its 200 day simple moving average is $14.98. 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 $9.81 and a fifty-two week high of $30.28.

Marathon Digital (NASDAQ:MARA - Get Free Report) last released its quarterly 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. The business had revenue of $238.50 million during the quarter, compared to analysts' expectations of $212.25 million. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%.The firm's revenue for the quarter was up 64.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.72) EPS. As a group, equities analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Insiders Place Their Bets

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

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.