Marathon Digital Holdings, Inc. (NASDAQ:MARA) Shares Purchased by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its stake in Marathon Digital Holdings by 34.2%, owning approximately 1,076,290 shares worth $12.38 million as of the latest SEC filing.
• Marathon Digital reported a quarterly earnings per share of $1.84, significantly surpassing the consensus estimate of (0.29), with revenues of $238.5 million for the quarter.
• Several analysts have upgraded their ratings for Marathon Digital, with Macquarie raising its price target from $19.00 to $26.00 and HC Wainwright issuing a buy rating with a price objective of $28.00.

Public Sector Pension Investment Board increased its position in Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 34.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,076,290 shares of the business services provider's stock after buying an additional 274,486 shares during the quarter. Public Sector Pension Investment Board owned 0.31% of Marathon Digital worth $12,377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Janney Montgomery Scott LLC increased its stake in shares of Marathon Digital by 307.7% during the first quarter. Janney Montgomery Scott LLC now owns 63,371 shares of the business services provider's stock valued at $729,000 after buying an additional 47,826 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Marathon Digital by 1,521.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,823 shares of the business services provider's stock valued at $147,000 after buying an additional 12,032 shares during the period. Wells Fargo & Company MN increased its stake in shares of Marathon Digital by 46.3% during the fourth quarter. Wells Fargo & Company MN now owns 239,195 shares of the business services provider's stock valued at $4,011,000 after buying an additional 75,668 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Marathon Digital by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 207,839 shares of the business services provider's stock valued at $3,485,000 after buying an additional 3,998 shares during the period. Finally, Stifel Financial Corp increased its stake in shares of Marathon Digital by 59.3% during the fourth quarter. Stifel Financial Corp now owns 41,497 shares of the business services provider's stock valued at $696,000 after buying an additional 15,447 shares during the period. Institutional investors own 44.53% of the company's stock.

Marathon Digital Price Performance

Shares of NASDAQ:MARA traded down $0.08 during trading on Friday, reaching $15.67. The stock had a trading volume of 36,967,597 shares, compared to its average volume of 42,083,727. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 0.54. The business has a fifty day moving average price of $16.61 and a 200-day moving average price of $15.13. The stock has a market cap of $5.81 billion, a PE ratio of 14.12 and a beta of 6.24. Marathon Digital Holdings, Inc. has a 1-year low of $9.81 and a 1-year high of $30.28.

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, topping analysts' consensus estimates of ($0.29) by $2.13. The company had revenue of $238.50 million for the quarter, compared to analyst estimates of $212.25 million. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%. The firm's revenue for the quarter was up 64.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.72) earnings per share. On average, equities analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Marathon Digital news, CEO Frederick G. Thiel sold 27,505 shares of the business's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $19.52, for a total transaction of $536,897.60. Following the transaction, the chief executive officer owned 3,946,504 shares of the company's stock, valued at approximately $77,035,758.08. The trade was a 0.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Salman Hassan Khan sold 34,733 shares of the business's stock in a transaction 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 in the company, valued at $22,400,773.30. This trade represents a 2.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,475 shares of company stock worth $2,219,517 in the last three months. 0.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MARA has been the topic of several research analyst reports. Macquarie boosted their target price on Marathon Digital from $19.00 to $26.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Rosenblatt Securities reaffirmed a "buy" rating and set a $20.00 price target on shares of Marathon Digital in a report on Wednesday, July 30th. JPMorgan Chase & Co. raised Marathon Digital from a "neutral" rating to an "overweight" rating and increased their target price for the company from $19.00 to $22.00 in a report on Monday, July 28th. HC Wainwright restated a "buy" rating and issued a $28.00 price target on shares of Marathon Digital in a research report on Thursday, April 24th. Finally, Cantor Fitzgerald increased 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, July 28th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $24.22.

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.