MetLife Investment Management LLC Raises Position in Marathon Digital Holdings, Inc. $MARA

Key Points

• MetLife Investment Management LLC has increased its stake in Marathon Digital Holdings by 16.4% in the first quarter, now owning 198,220 shares valued at approximately $2.28 million.
• Marathon Digital reported a significant earnings per share of $1.84, surpassing expectations, with revenue rising 64% year-over-year to $238.5 million.
• Recent analyst upgrades have boosted Marathon Digital's average price target to $24.22, signaling a consensus rating of "Moderate Buy".

MetLife Investment Management LLC lifted its stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 16.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,220 shares of the business services provider's stock after purchasing an additional 27,900 shares during the period. MetLife Investment Management LLC owned 0.06% of Marathon Digital worth $2,280,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Jump Financial LLC bought a new position in shares of Marathon Digital in the first quarter worth about $154,000. Banco Bilbao Vizcaya Argentaria S.A. increased its holdings 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 worth $1,398,000 after acquiring an additional 27,584 shares in the last quarter. Groupama Asset Managment bought a new stake in Marathon Digital during the 1st quarter worth approximately $4,600,000. Northern Trust Corp lifted its holdings in Marathon Digital by 7.2% during 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 in the last quarter. Finally, Algert Global LLC boosted its position in shares of Marathon Digital by 20.2% in the first quarter. Algert Global LLC now owns 279,474 shares of the business services provider's stock worth $3,214,000 after purchasing an additional 46,872 shares during the period. Institutional investors own 44.53% of the company's stock.

Marathon Digital Stock Performance

NASDAQ MARA opened at $15.98 on Tuesday. 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 Holdings, Inc. has a 1-year low of $9.81 and a 1-year high of $30.28. The business has a 50 day simple moving average of $16.73 and a two-hundred day simple moving average of $14.97. The stock has a market capitalization of $5.92 billion, a PE ratio of 14.40 and a beta of 6.36.

Marathon Digital (NASDAQ:MARA - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $2.13. The business had revenue of $238.50 million for 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 company's revenue for the quarter was up 64.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.72) EPS. On average, research analysts predict 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 dated Monday, August 18th. The shares were sold at an average price of $15.28, for a total transaction of $420,276.40. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Salman Hassan Khan sold 34,732 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $15.73, for a total transaction of $546,334.36. Following the completion of the transaction, the chief financial officer directly 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 189,712 shares of company stock worth $3,186,128. 0.80% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages 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 report on Monday, July 21st. Barclays raised their price target on Marathon Digital from $14.00 to $16.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. JPMorgan Chase & Co. raised Marathon Digital from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $19.00 to $22.00 in a research note on Monday, July 28th. Rosenblatt Securities reissued a "buy" rating and issued a $20.00 price target on shares of Marathon Digital in a report on Wednesday, July 30th. Finally, Compass Point upgraded Marathon Digital from a "sell" rating to a "neutral" rating and upped their price target for the stock from $9.50 to $18.00 in a research note on Friday, July 25th. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Marathon Digital currently has an average rating of "Moderate Buy" and a consensus target price of $24.22.

Marathon Digital Company 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.

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