Nisa Investment Advisors LLC Buys 95,990 Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Nisa Investment Advisors LLC boosted its stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 233.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 137,055 shares of the business services provider's stock after purchasing an additional 95,990 shares during the quarter. Nisa Investment Advisors LLC's holdings in Marathon Digital were worth $1,576,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Park Square Financial Group LLC bought a new position in Marathon Digital in the 4th quarter worth about $27,000. Sterling Capital Management LLC boosted its position in shares of Marathon Digital by 358.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider's stock valued at $31,000 after acquiring an additional 1,426 shares during the last quarter. Brown Brothers Harriman & Co. bought a new stake in shares of Marathon Digital during the 4th quarter valued at about $50,000. US Bancorp DE boosted its position in shares of Marathon Digital by 73.3% during the 4th quarter. US Bancorp DE now owns 3,559 shares of the business services provider's stock valued at $60,000 after acquiring an additional 1,505 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Marathon Digital by 211.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,500 shares of the business services provider's stock valued at $64,000 after acquiring an additional 2,375 shares during the last quarter. Institutional investors own 44.53% of the company's stock.

Marathon Digital Price Performance

Shares of Marathon Digital stock opened at $19.21 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.79 and a quick ratio of 0.79. The business's 50 day simple moving average is $15.65 and its two-hundred day simple moving average is $15.32. The stock has a market capitalization of $6.76 billion, a P/E ratio of -13.25 and a beta of 6.53. Marathon Digital Holdings, Inc. has a one year low of $9.81 and a one year high of $30.28.

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

Insiders Place Their Bets

In other Marathon Digital news, CFO Salman Hassan Khan sold 34,733 shares of Marathon Digital stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $15.85, for a total value of $550,518.05. Following the transaction, the chief financial officer directly owned 1,413,298 shares of the company's stock, valued at $22,400,773.30. The trade was a 2.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Douglas K. Mellinger sold 3,000 shares of the business's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $16.00, for a total value of $48,000.00. Following the transaction, the director directly owned 176,859 shares in the company, valued at $2,829,744. This trade represents a 1.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 199,853 shares of company stock valued at $3,072,049 in the last ninety days. Company insiders own 0.80% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MARA shares. Barclays lifted their price target on Marathon Digital from $14.00 to $16.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Compass Point reiterated a "sell" rating and set a $9.50 price target (down previously from $25.00) on shares of Marathon Digital in a research report on Tuesday, May 6th. JPMorgan Chase & Co. lifted their price target on Marathon Digital from $18.00 to $19.00 and gave the company a "neutral" rating in a research report on Friday, June 13th. Piper Sandler dropped their price target on Marathon Digital from $30.00 to $23.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Finally, HC Wainwright reiterated a "buy" rating and set a $28.00 price target on shares of Marathon Digital in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $20.94.

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.

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