Swiss National Bank Acquires 78,300 Shares of Marathon Digital Holdings, Inc. $MARA

Key Points

• The Swiss National Bank increased its stake in Marathon Digital Holdings, acquiring an additional 78,300 shares during the first quarter, now owning a total of 657,500 shares worth approximately $7.56 million.
• Several large investors, including Vanguard Group and Charles Schwab, have also expanded their investments in Marathon Digital, indicating growing institutional interest in the company.
• Marathon Digital reported strong quarterly earnings of $1.84 per share, significantly surpassing expectations, with a revenue increase of 64% compared to the previous year.

Swiss National Bank raised its stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 13.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 657,500 shares of the business services provider's stock after buying an additional 78,300 shares during the quarter. Swiss National Bank owned about 0.19% of Marathon Digital worth $7,561,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Park Square Financial Group LLC acquired a new position in shares of Marathon Digital during the 4th quarter worth about $27,000. Sterling Capital Management LLC grew its position in shares of Marathon Digital by 358.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider's stock valued at $31,000 after purchasing an additional 1,426 shares during the period. NewEdge Advisors LLC increased its stake in Marathon Digital by 28.9% during the 4th quarter. NewEdge Advisors LLC now owns 4,640 shares of the business services provider's stock worth $78,000 after purchasing an additional 1,040 shares in the last quarter. CX Institutional acquired a new stake in Marathon Digital during the 1st quarter worth approximately $68,000. Finally, Archer Investment Corp lifted its stake in Marathon Digital by 6,800.0% in the first quarter. Archer Investment Corp now owns 6,900 shares of the business services provider's stock valued at $79,000 after buying an additional 6,800 shares in the last quarter. 44.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Salman Hassan Khan sold 34,732 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $19.05, for a total transaction of $661,644.60. Following the sale, the chief financial officer owned 324,572 shares in the company, valued at $6,183,096.60. This represents a 9.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Frederick G. Thiel sold 27,505 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $19.52, for a total value of $536,897.60. Following the sale, the chief executive officer owned 3,946,504 shares in the company, valued at approximately $77,035,758.08. This represents a 0.69% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 127,475 shares of company stock worth $2,219,517. Company insiders own 0.80% of the company's stock.

Marathon Digital Stock Down 5.7%

NASDAQ MARA traded down $0.9240 during trading on Tuesday, hitting $15.1660. The stock had a trading volume of 29,588,088 shares, compared to its average volume of 42,079,906. Marathon Digital Holdings, Inc. has a 12 month low of $9.81 and a 12 month high of $30.28. The company has a market capitalization of $5.62 billion, a PE ratio of 13.66 and a beta of 6.24. 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 company's 50-day moving average price is $16.60 and its two-hundred day moving average price is $15.05.

Marathon Digital (NASDAQ:MARA - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.29) by $2.13. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%.The company had revenue of $238.50 million for the quarter, compared to analysts' expectations of $212.25 million. During the same quarter in the prior year, the business posted ($0.72) EPS. The business's revenue was up 64.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on MARA. JPMorgan Chase & Co. upgraded shares of Marathon Digital from a "neutral" rating to an "overweight" rating and upped their price target for the company from $19.00 to $22.00 in a report on Monday, July 28th. HC Wainwright reiterated a "buy" rating and issued a $28.00 price target on shares of Marathon Digital in a report on Thursday, April 24th. Barclays upped their price target on shares of Marathon Digital from $14.00 to $16.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Piper Sandler upped their price target on shares of Marathon Digital from $23.00 to $26.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $20.00 price target on shares of Marathon Digital in a report on Wednesday, July 30th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Marathon Digital currently has an average rating of "Moderate Buy" and an average target price of $24.22.

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.