Handelsbanken Fonder AB Takes Position in Marathon Digital Holdings, Inc. $MARA

Key Points

• Handelsbanken Fonder AB opened a new position in Marathon Digital during the fourth quarter, buying 92,500 shares valued at about $831,000.
• Institutional ownership remains significant, with large investors like Vanguard, State Street, and UBS increasing their stakes; hedge funds and institutions now own 44.53% of the company.
• Marathon Digital’s fundamentals were weak in its latest quarterly report, posting a larger-than-expected loss of $4.52 per share and revenue of $202.31 million, while analysts currently rate the stock a Hold on average.

Handelsbanken Fonder AB bought a new stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 92,500 shares of the business services provider's stock, valued at approximately $831,000.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Marathon Digital by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 46,706,277 shares of the business services provider's stock valued at $419,422,000 after buying an additional 1,394,559 shares in the last quarter. State Street Corp boosted its stake in shares of Marathon Digital by 1.4% in the second quarter. State Street Corp now owns 13,455,176 shares of the business services provider's stock valued at $210,977,000 after buying an additional 191,380 shares in the last quarter. UBS Group AG boosted its stake in shares of Marathon Digital by 104.1% in the third quarter. UBS Group AG now owns 12,098,686 shares of the business services provider's stock valued at $220,922,000 after buying an additional 6,172,110 shares in the last quarter. Voloridge Investment Management LLC purchased a new stake in shares of Marathon Digital in the third quarter valued at approximately $93,066,000. Finally, Capital Research Global Investors purchased a new stake in shares of Marathon Digital in the third quarter valued at approximately $68,090,000. Institutional investors and hedge funds own 44.53% of the company's stock.

Marathon Digital Stock Performance

Marathon Digital stock opened at $14.33 on Thursday. The firm has a market capitalization of $5.46 billion, a P/E ratio of -2.51 and a beta of 5.41. The stock has a fifty day moving average price of $10.93 and a 200 day moving average price of $10.40. Marathon Digital Holdings, Inc. has a 52 week low of $6.66 and a 52 week high of $23.45. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.99.

Marathon Digital (NASDAQ:MARA - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The business services provider reported ($4.52) EPS for the quarter, missing the consensus estimate of ($0.23) by ($4.29). The firm had revenue of $202.31 million for the quarter, compared to analyst estimates of $250.74 million. Marathon Digital had a negative return on equity of 23.20% and a negative net margin of 234.83%.The business's revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.24 earnings per share. Equities research analysts anticipate that Marathon Digital Holdings, Inc. will post -1.67 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $12.00, for a total value of $330,060.00. Following the completion of the sale, the chief executive officer owned 4,589,514 shares in the company, valued at approximately $55,074,168. This trade represents a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Salman Hassan Khan sold 16,000 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $12.00, for a total value of $192,000.00. Following the completion of the sale, the chief financial officer owned 425,066 shares of the company's stock, valued at approximately $5,100,792. This trade represents a 3.63% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 180,855 shares of company stock worth $2,033,654 over the last three months. 0.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MARA has been the topic of a number of analyst reports. Cantor Fitzgerald decreased their price target on Marathon Digital from $11.00 to $10.00 and set an "overweight" rating on the stock in a research note on Thursday, April 9th. Rosenblatt Securities lifted their price target on Marathon Digital from $11.00 to $15.00 and gave the company a "buy" rating in a research note on Friday, May 1st. HC Wainwright restated a "neutral" rating on shares of Marathon Digital in a research note on Friday, February 27th. Morgan Stanley decreased their price target on Marathon Digital from $8.50 to $7.00 and set an "underweight" rating on the stock in a research note on Tuesday, May 19th. Finally, Weiss Ratings downgraded Marathon Digital from a "sell (d)" rating to a "sell (d-)" rating in a research note on Tuesday, May 12th. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $18.38.

Marathon Digital Company 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.

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