Strs Ohio Buys New Stake in Marathon Digital Holdings, Inc. $MARA

Key Points

• Strs Ohio has acquired a new stake in Marathon Digital Holdings, Inc., purchasing 31,600 shares valued at approximately $363,000.
• Hedge funds and institutional investors currently hold 44.53% of Marathon Digital's stock, with significant increases in stakes reported by several investment firms in the last quarter.
• Marathon Digital's CEO and a director recently sold shares, while analysts have raised price targets for the stock, indicating a positive sentiment with an average target price of $24.50.

Strs Ohio acquired a new stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 31,600 shares of the business services provider's stock, valued at approximately $363,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MARA. Nuveen Asset Management LLC boosted its stake in shares of Marathon Digital by 5.4% in the fourth quarter. Nuveen Asset Management LLC now owns 822,705 shares of the business services provider's stock valued at $13,797,000 after purchasing an additional 41,929 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Marathon Digital by 33.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 579,408 shares of the business services provider's stock worth $9,717,000 after acquiring an additional 145,953 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of Marathon Digital by 5.1% in the fourth quarter. Mackenzie Financial Corp now owns 18,125 shares of the business services provider's stock worth $304,000 after acquiring an additional 878 shares in the last quarter. Park Square Financial Group LLC purchased a new stake in shares of Marathon Digital during the fourth quarter worth $27,000. Finally, California State Teachers Retirement System raised its stake in shares of Marathon Digital by 2.9% in the fourth quarter. California State Teachers Retirement System now owns 274,676 shares of the business services provider's stock valued at $4,606,000 after acquiring an additional 7,864 shares in the last quarter. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Marathon Digital

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

Analyst Ratings Changes

A number of research analysts recently issued reports on MARA shares. Piper Sandler lifted their price target on shares of Marathon Digital from $23.00 to $26.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. JPMorgan Chase & Co. raised shares of Marathon Digital from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $19.00 to $22.00 in a research report on Monday, July 28th. Rosenblatt Securities reiterated a "buy" rating and set a $20.00 target price on shares of Marathon Digital in a research note on Wednesday, July 30th. Macquarie raised their price target on Marathon Digital from $19.00 to $26.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Finally, Cantor Fitzgerald upped their price objective on Marathon Digital from $34.00 to $39.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $24.50.

Marathon Digital Stock Performance

Shares of NASDAQ MARA opened at $17.71 on Wednesday. The company has a 50-day simple moving average of $16.56 and a 200-day simple moving average of $15.18. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.54 and a quick ratio of 0.54. The company has a market cap of $6.56 billion, a PE ratio of 15.95 and a beta of 6.35. Marathon Digital Holdings, Inc. has a 12 month low of $9.81 and a 12 month high of $30.28.

Marathon Digital (NASDAQ:MARA - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.84 EPS for the quarter, beating the consensus estimate of ($0.29) by $2.13. The company had revenue of $238.50 million during 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 firm's revenue was up 64.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.72) EPS. On average, equities analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

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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