Hsbc Holdings PLC Makes New $5.22 Million Investment in Marathon Digital Holdings, Inc. $MARA

Key Points

• HSBC Holdings PLC disclosed a new position in Marathon Digital Holdings, buying 568,952 shares worth about $5.22 million in the fourth quarter. The stake represented roughly 0.15% of the company.
• Marathon Digital insiders have been selling shares, including General Counsel Zabi Nowaid and CEO Frederick G. Thiel, with insiders selling 194,855 shares valued at about $2.47 million over the last quarter.
• Wall Street remains mixed but generally positive on MARA, with a consensus rating of “Moderate Buy” and an average price target of $19.00. Recent analyst targets range from $10 to $27.

Hsbc Holdings PLC bought a new position in Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 568,952 shares of the business services provider's stock, valued at approximately $5,220,000. Hsbc Holdings PLC owned about 0.15% of Marathon Digital at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC increased its holdings in shares of Marathon Digital by 9.8% in the first quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider's stock valued at $127,000 after purchasing an additional 991 shares during the period. NewEdge Advisors LLC boosted its position in Marathon Digital by 65.3% in the first quarter. NewEdge Advisors LLC now owns 7,672 shares of the business services provider's stock valued at $88,000 after buying an additional 3,032 shares during the last quarter. United Services Automobile Association boosted its position in Marathon Digital by 8.2% in the first quarter. United Services Automobile Association now owns 20,634 shares of the business services provider's stock valued at $257,000 after buying an additional 1,569 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Marathon Digital by 11.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 643,311 shares of the business services provider's stock worth $7,398,000 after buying an additional 63,903 shares during the period. Finally, Envestnet Asset Management Inc. acquired a new position in Marathon Digital in the 2nd quarter worth approximately $183,000. Institutional investors and hedge funds own 44.53% of the company's stock.

Marathon Digital Price Performance

MARA stock opened at $14.53 on Friday. Marathon Digital Holdings, Inc. has a 1 year low of $6.66 and a 1 year high of $23.45. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market capitalization of $5.54 billion, a PE ratio of -2.54 and a beta of 5.38. The business has a 50 day simple moving average of $13.15 and a 200-day simple moving average of $10.69.

Insider Buying and Selling

In other news, General Counsel Zabi Nowaid sold 7,000 shares of the business's stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $14.25, for a total transaction of $99,750.00. Following the transaction, the general counsel owned 963,768 shares of the company's stock, valued at approximately $13,733,694. The trade was a 0.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Frederick G. Thiel sold 27,505 shares of the company's stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $14.25, for a total transaction of $391,946.25. Following the completion of the sale, the chief executive officer directly owned 4,562,009 shares of the company's stock, valued at $65,008,628.25. This represents a 0.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 194,855 shares of company stock valued at $2,465,975 in the last quarter. Corporate insiders own 0.97% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Cantor Fitzgerald decreased their price objective on shares of Marathon Digital from $11.00 to $10.00 and set an "overweight" rating for the company in a research note on Thursday, April 9th. Rosenblatt Securities increased their price objective on shares of Marathon Digital from $11.00 to $15.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. Citizens Jmp started coverage on shares of Marathon Digital in a report on Wednesday. They set a "market outperform" rating and a $24.00 target price for the company. Weiss Ratings downgraded shares of Marathon Digital from a "sell (d)" rating to a "sell (d-)" rating in a research report on Tuesday, May 12th. Finally, BTIG Research reaffirmed a "buy" rating and issued a $27.00 price target on shares of Marathon Digital in a report on Monday, June 1st. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $19.00.

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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