New York State Teachers Retirement System Purchases 34,100 Shares of Marathon Digital Holdings, Inc. $MARA

Key Points

• The New York State Teachers Retirement System increased its stake in Marathon Digital Holdings by 12.0%, purchasing an additional 34,100 shares during the second quarter, bringing their total ownership to approximately 0.09% of the company, valued at about $4.997 million.
• Company insiders, including CFO Salman Hassan Khan and CEO Frederick G. Thiel, have sold significant amounts of stock recently, with Khan selling 34,732 shares and Thiel selling 27,505 shares in mid-October.
• Analysts have varied price targets for Marathon Digital, including a "buy" rating from BTIG Research at $27.00 and a "neutral" rating from Compass Point at $18.00, with an average consensus price target of $23.90.

New York State Teachers Retirement System boosted its position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 12.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 318,656 shares of the business services provider's stock after buying an additional 34,100 shares during the quarter. New York State Teachers Retirement System owned approximately 0.09% of Marathon Digital worth $4,997,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Fifth Third Bancorp raised its holdings in Marathon Digital by 59.9% in the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider's stock worth $29,000 after purchasing an additional 683 shares in the last quarter. CX Institutional raised its holdings in Marathon Digital by 12.6% in the 2nd quarter. CX Institutional now owns 6,698 shares of the business services provider's stock worth $105,000 after purchasing an additional 749 shares in the last quarter. Ranch Capital Advisors Inc. raised its holdings in Marathon Digital by 5.8% in the 1st quarter. Ranch Capital Advisors Inc. now owns 14,632 shares of the business services provider's stock worth $168,000 after purchasing an additional 805 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in Marathon Digital by 9.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider's stock worth $127,000 after purchasing an additional 991 shares in the last quarter. Finally, Strategic Advocates LLC raised its holdings in Marathon Digital by 7.8% in the 2nd quarter. Strategic Advocates LLC now owns 16,025 shares of the business services provider's stock worth $251,000 after purchasing an additional 1,163 shares in the last quarter. 44.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Marathon Digital

In other Marathon Digital news, CFO Salman Hassan Khan sold 34,732 shares of the firm's stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $22.74, for a total transaction of $789,805.68. Following the completion of the sale, the chief financial officer directly owned 318,030 shares in the company, valued at approximately $7,232,002.20. This trade represents a 9.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm's stock in a transaction dated Friday, October 17th. The shares were sold at an average price of $19.57, for a total transaction of $538,272.85. Following the sale, the chief executive officer owned 3,718,700 shares of the company's stock, valued at approximately $72,774,959. This represents a 0.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 204,598 shares of company stock worth $3,616,374. 0.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Compass Point assumed coverage on shares of Marathon Digital in a report on Monday, September 15th. They issued a "neutral" rating and a $18.00 price objective for the company. BTIG Research restated a "buy" rating and issued a $27.00 price objective on shares of Marathon Digital in a report on Friday, September 5th. JPMorgan Chase & Co. decreased their price target on shares of Marathon Digital from $22.00 to $20.00 and set an "overweight" rating for the company in a research note on Friday, September 26th. Weiss Ratings reiterated a "hold (c)" rating on shares of Marathon Digital in a research note on Wednesday, October 8th. Finally, Macquarie increased 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 analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $23.90.

Marathon Digital Stock Up 5.9%

NASDAQ:MARA opened at $20.73 on Tuesday. The firm has a market cap of $7.68 billion, a P/E ratio of 18.68 and a beta of 6.33. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 0.54. Marathon Digital Holdings, Inc. has a fifty-two week low of $9.81 and a fifty-two week high of $30.28. The firm has a 50-day simple moving average of $17.41 and a two-hundred day simple moving average of $16.09.

Marathon Digital (NASDAQ:MARA - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.84 earnings per share for the quarter, beating analysts' consensus estimates of ($0.29) by $2.13. The business had revenue of $238.50 million during the quarter, compared to analyst estimates of $212.25 million. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. Marathon Digital's revenue was up 64.0% compared to the same quarter last year. During the same period last year, the business earned ($0.72) EPS. Analysts predict that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

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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