State of Alaska Department of Revenue Increases Stock Position in Marathon Digital Holdings, Inc. $MARA

State of Alaska Department of Revenue boosted its stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 11.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 209,652 shares of the business services provider's stock after purchasing an additional 21,605 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of Marathon Digital worth $3,287,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Rhumbline Advisers lifted its stake in Marathon Digital by 10.0% in the 1st quarter. Rhumbline Advisers now owns 917,299 shares of the business services provider's stock worth $10,549,000 after purchasing an additional 83,242 shares in the last quarter. Intech Investment Management LLC raised its position in shares of Marathon Digital by 14.5% during the 1st quarter. Intech Investment Management LLC now owns 160,717 shares of the business services provider's stock valued at $1,848,000 after buying an additional 20,413 shares in the last quarter. Exchange Traded Concepts LLC raised its position in shares of Marathon Digital by 7.7% during the 2nd quarter. Exchange Traded Concepts LLC now owns 1,173,211 shares of the business services provider's stock valued at $18,396,000 after buying an additional 83,649 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Marathon Digital by 307.7% during the 1st 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 in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Marathon Digital by 1,521.1% during the 1st 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 in the last quarter. Hedge funds and other institutional investors own 44.53% of the company's stock.

Marathon Digital Stock Performance

Marathon Digital stock opened at $18.26 on Wednesday. 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 firm has a market capitalization of $6.76 billion, a P/E ratio of 16.45 and a beta of 6.36. The company's 50-day moving average is $16.34 and its 200 day moving average is $15.33.

Marathon Digital (NASDAQ:MARA - Get Free Report) last posted 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. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. The company had revenue of $238.50 million for the quarter, compared to analyst estimates of $212.25 million. During the same period in the prior year, the company posted ($0.72) EPS. The firm's revenue for the quarter was up 64.0% on a year-over-year basis. Research analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MARA. Compass Point began coverage on shares of Marathon Digital in a research report on Monday, September 15th. They set a "neutral" rating and a $18.00 target price on the stock. Cantor Fitzgerald upped their target price on shares of Marathon Digital from $34.00 to $39.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Macquarie upped their target price on shares of Marathon Digital from $19.00 to $26.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. decreased their target price on shares of Marathon Digital from $22.00 to $20.00 and set an "overweight" rating on the stock in a research report on Friday, September 26th. Finally, BTIG Research restated a "buy" rating and set a $27.00 target price on shares of Marathon Digital in a research report on Friday, September 5th. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Marathon Digital has a consensus rating of "Moderate Buy" and an average target price of $24.30.

Insiders Place Their Bets

In other Marathon Digital news, Director Vicki Mealer-Burke sold 14,887 shares of the company's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $15.22, for a total value of $226,580.14. Following the transaction, the director directly owned 58,103 shares in the company, valued at $884,327.66. This represents a 20.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $15.28, for a total transaction of $420,276.40. Following the completion of the transaction, the chief executive officer owned 3,810,799 shares in the company, valued at $58,229,008.72. This represents a 0.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 204,598 shares of company stock worth $3,483,548 in the last three months. Corporate insiders own 0.80% of the company's stock.

Marathon Digital 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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