Intech Investment Management LLC Grows Holdings in Marathon Digital Holdings, Inc. $MARA

Key Points

• Intech Investment Management LLC increased its stake in Marathon Digital Holdings by 14.5%, owning 160,717 shares worth approximately $1.85 million after acquiring more shares in Q1.
• Director Vicki Mealer-Burke and CFO Salman Hassan Khan sold significant shares, with total insider sales over the last 90 days amounting to approximately $2.44 million.
• Multiple analysts have upgraded Marathon Digital's stock ratings and targets, with an average price target currently set at $24.50, reflecting strong analyst confidence in the company's performance.

Intech Investment Management LLC grew its holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 14.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 160,717 shares of the business services provider's stock after purchasing an additional 20,413 shares during the quarter. Intech Investment Management LLC's holdings in Marathon Digital were worth $1,848,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Marathon Digital by 2.7% in the first quarter. Vanguard Group Inc. now owns 39,811,453 shares of the business services provider's stock valued at $457,832,000 after purchasing an additional 1,028,512 shares during the period. American Century Companies Inc. boosted its stake in shares of Marathon Digital by 55.7% in the first quarter. American Century Companies Inc. now owns 6,289,953 shares of the business services provider's stock valued at $72,334,000 after purchasing an additional 2,250,082 shares during the period. Northern Trust Corp boosted its stake in shares of Marathon Digital by 7.2% in the first quarter. Northern Trust Corp now owns 3,529,782 shares of the business services provider's stock valued at $40,592,000 after purchasing an additional 236,251 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Marathon Digital by 9.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,322,618 shares of the business services provider's stock valued at $38,210,000 after purchasing an additional 294,161 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Marathon Digital by 3.3% in the first quarter. Bank of New York Mellon Corp now owns 2,108,303 shares of the business services provider's stock valued at $24,245,000 after purchasing an additional 67,838 shares during the period. Hedge funds and other institutional investors own 44.53% of the company's stock.

Insider Buying and Selling

In related news, CEO Frederick G. Thiel sold 27,505 shares of the business's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $17.38, for a total value of $478,036.90. Following the sale, the chief executive officer directly owned 3,755,789 shares in the company, valued at $65,275,612.82. The trade was a 0.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Salman Hassan Khan sold 34,732 shares of the business's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $16.24, for a total transaction of $564,047.68. Following the completion of the sale, the chief financial officer owned 318,428 shares in the company, valued at $5,171,270.72. This represents a 9.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 204,598 shares of company stock worth $3,483,548 in the last three months. Corporate insiders own 0.80% of the company's stock.

Marathon Digital Price Performance

Shares of NASDAQ MARA traded down $0.21 during trading on Friday, hitting $18.29. 62,723,905 shares of the company were exchanged, compared to its average volume of 62,780,952. The company has a market cap of $6.78 billion, a price-to-earnings ratio of 16.48 and a beta of 6.35. Marathon Digital Holdings, Inc. has a 1 year low of $9.81 and a 1 year high of $30.28. The firm's fifty day moving average price is $16.60 and its 200 day moving average price is $15.15. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.54 and a quick ratio of 0.54.

Marathon Digital (NASDAQ:MARA - Get Free Report) last issued its earnings results on Tuesday, July 29th. The business services provider reported $1.84 EPS for the quarter, topping the consensus estimate of ($0.29) by $2.13. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. The company had revenue of $238.50 million for the quarter, compared to analyst estimates of $212.25 million. During the same period in the previous year, the firm earned ($0.72) EPS. The business's revenue was up 64.0% on a year-over-year basis. On average, sell-side analysts expect that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MARA. Piper Sandler raised their price objective on shares of Marathon Digital from $23.00 to $26.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Cantor Fitzgerald lifted their price target on shares of Marathon Digital from $34.00 to $39.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. BTIG Research reiterated a "buy" rating and issued a $27.00 price target on shares of Marathon Digital in a research note on Friday, September 5th. Compass Point initiated coverage on shares of Marathon Digital in a research note on Monday, September 15th. They issued a "neutral" rating and a $18.00 price target for the company. Finally, Macquarie lifted their price target on shares of Marathon Digital from $19.00 to $26.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. Seven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Marathon Digital currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.50.

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.