Vanguard Group Inc. Has $419.42 Million Position in Marathon Digital Holdings, Inc. $MARA

Key Points

• Vanguard increased its stake in Marathon by 3.1% in Q4 to 46,706,277 shares — roughly 12.35% of the company, valued at about $419.42 million.
• Marathon posted a major earnings miss (EPS of -$4.52 vs. estimates of -$0.23) and weaker-than-expected revenue ($202.3M vs. $250.7M), leaving the company with negative margins and analysts projecting about -0.79 EPS for the year.
• Coverage is mixed: the consensus rating is Hold with an average target of $18.22, while insiders have sold roughly 172,605 shares in the past 90 days under Rule 10b5-1 plans.

Vanguard Group Inc. grew its holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 46,706,277 shares of the business services provider's stock after purchasing an additional 1,394,559 shares during the quarter. Vanguard Group Inc. owned about 12.35% of Marathon Digital worth $419,422,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mizuho Markets Americas LLC acquired a new stake in shares of Marathon Digital in the third quarter valued at about $5,438,000. WINTON GROUP Ltd acquired a new stake in Marathon Digital during the third quarter worth about $4,643,000. Farallon Capital Management LLC grew its position in Marathon Digital by 338.3% during the third quarter. Farallon Capital Management LLC now owns 3,660,000 shares of the business services provider's stock worth $66,832,000 after buying an additional 2,825,000 shares in the last quarter. Stevens Capital Management LP grew its position in Marathon Digital by 446.6% during the third quarter. Stevens Capital Management LP now owns 319,549 shares of the business services provider's stock worth $5,835,000 after buying an additional 261,085 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its position in Marathon Digital by 20.4% during the third quarter. Public Sector Pension Investment Board now owns 1,445,051 shares of the business services provider's stock worth $26,387,000 after buying an additional 245,222 shares in the last quarter. 44.53% of the stock is owned by institutional investors and hedge funds.

Marathon Digital Stock Performance

NASDAQ:MARA opened at $13.03 on Thursday. Marathon Digital Holdings, Inc. has a 1 year low of $6.66 and a 1 year high of $23.45. The firm has a 50 day moving average of $9.60 and a 200-day moving average of $10.98. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $4.97 billion, a P/E ratio of -3.29 and a beta of 5.41.

Marathon Digital (NASDAQ:MARA - Get Free Report) last posted its earnings results on Thursday, February 26th. The business services provider reported ($4.52) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($4.29). Marathon Digital had a negative net margin of 144.58% and a negative return on equity of 19.01%. The firm had revenue of $202.31 million during the quarter, compared to the consensus estimate of $250.74 million. During the same quarter last year, the firm posted $1.24 EPS. The business's revenue was down 5.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Marathon Digital Holdings, Inc. will post -0.79 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel Zabi Nowaid sold 42,090 shares of Marathon Digital stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $12.00, for a total value of $505,080.00. Following the completion of the transaction, the general counsel owned 1,007,047 shares in the company, valued at approximately $12,084,564. The trade was a 4.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Salman Hassan Khan sold 16,000 shares of the business's stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $11.68, for a total transaction of $186,880.00. Following the completion of the transaction, the chief financial officer owned 441,066 shares of the company's stock, valued at $5,151,650.88. This trade represents a 3.50% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 172,605 shares of company stock worth $1,745,843. Insiders own 0.80% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on MARA shares. Rosenblatt Securities raised their price target on shares of Marathon Digital from $11.00 to $15.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. Morgan Stanley started coverage on shares of Marathon Digital in a research note on Monday, February 9th. They set an "underweight" rating and a $8.00 price target for the company. Piper Sandler cut their price target on shares of Marathon Digital from $26.00 to $16.00 and set an "overweight" rating for the company in a research note on Wednesday, January 14th. Weiss Ratings cut shares of Marathon Digital from a "hold (c-)" rating to a "sell (d)" rating in a research note on Friday, March 6th. Finally, HC Wainwright restated a "neutral" rating on shares of Marathon Digital in a research note on Friday, February 27th. Seven analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $18.22.

Marathon Digital Profile

Marathon Digital Holdings, Inc is a digital asset technology company specializing in the mining and acquisition of bitcoin. Headquartered in Las Vegas, Nevada, the firm employs high-performance application-specific integrated circuit (ASIC) miners and proprietary software to secure the Bitcoin network and expand its crypto-mining footprint. Marathon Digital focuses on operational efficiency and scalability, while maintaining rigorous standards for regulatory compliance and corporate governance.

The company operates multiple large-scale mining facilities throughout North America, including sites in Texas, Montana and New York.

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