Teachers Retirement System of The State of Kentucky Sells 43,186 Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Teachers Retirement System of The State of Kentucky lowered its position in Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 31.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 94,850 shares of the business services provider's stock after selling 43,186 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Marathon Digital were worth $1,091,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Marathon Digital during the 4th quarter worth approximately $46,413,000. Vanguard Group Inc. grew its holdings in Marathon Digital by 7.5% in the 4th quarter. Vanguard Group Inc. now owns 38,782,941 shares of the business services provider's stock valued at $650,390,000 after buying an additional 2,706,271 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Marathon Digital by 192.4% in the 4th 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 buying an additional 1,248,292 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Marathon Digital during the 4th quarter worth $13,416,000. Finally, Wellington Management Group LLP grew its holdings in shares of Marathon Digital by 1,726.2% during the 4th quarter. Wellington Management Group LLP now owns 716,430 shares of the business services provider's stock worth $12,015,000 after purchasing an additional 677,199 shares during the period. Hedge funds and other institutional investors own 44.53% of the company's stock.

Insider Buying and Selling

In other news, Director Douglas K. Mellinger sold 3,000 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $16.00, for a total value of $48,000.00. Following the completion of the sale, the director owned 176,859 shares in the company, valued at $2,829,744. This represents a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Frederick G. Thiel sold 55,010 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $15.00, for a total transaction of $825,150.00. Following the transaction, the chief executive officer directly owned 4,146,804 shares in the company, valued at $62,202,060. The trade was a 1.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 262,090 shares of company stock valued at $4,270,591 in the last three months. 0.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MARA has been the subject of a number of research analyst reports. Compass Point upgraded Marathon Digital from a "sell" rating to a "neutral" rating and raised their target price for the company from $9.50 to $18.00 in a report on Friday. Cantor Fitzgerald raised their target price on Marathon Digital from $34.00 to $39.00 and gave the stock an "overweight" rating in a research report on Monday. Barclays raised their target price on Marathon Digital from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. JPMorgan Chase & Co. upgraded Marathon Digital from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $19.00 to $22.00 in a research note on Monday. Finally, Piper Sandler raised their price target on Marathon Digital from $23.00 to $26.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Marathon Digital presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.56.

Marathon Digital Price Performance

MARA traded down $0.21 during trading on Monday, reaching $17.04. 17,898,617 shares of the stock were exchanged, compared to its average volume of 42,529,555. Marathon Digital Holdings, Inc. has a 1 year low of $9.81 and a 1 year high of $30.28. The company has a market capitalization of $6.00 billion, a price-to-earnings ratio of -11.78 and a beta of 6.53. The business's 50 day moving average price is $16.41 and its two-hundred day moving average price is $15.36. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.79 and a quick ratio of 0.79.

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

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.