Vontobel Holding Ltd. Increases Position in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Vontobel Holding Ltd. increased its stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 49.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 164,721 shares of the business services provider's stock after purchasing an additional 54,409 shares during the quarter. Vontobel Holding Ltd.'s holdings in Marathon Digital were worth $1,894,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. New York State Teachers Retirement System increased its holdings in shares of Marathon Digital by 2.6% in the 1st quarter. New York State Teachers Retirement System now owns 284,556 shares of the business services provider's stock valued at $3,272,000 after purchasing an additional 7,300 shares in the last quarter. Amalgamated Bank increased its holdings in shares of Marathon Digital by 4.3% in the 1st quarter. Amalgamated Bank now owns 96,737 shares of the business services provider's stock valued at $1,112,000 after purchasing an additional 3,996 shares in the last quarter. KBC Group NV increased its holdings in shares of Marathon Digital by 19.3% in the 1st quarter. KBC Group NV now owns 13,725 shares of the business services provider's stock valued at $158,000 after purchasing an additional 2,220 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Marathon Digital by 1,521.1% in 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 purchasing an additional 12,032 shares in the last quarter. Finally, Western Wealth Management LLC increased its holdings in shares of Marathon Digital by 24.7% in the 1st quarter. Western Wealth Management LLC now owns 23,029 shares of the business services provider's stock valued at $265,000 after purchasing an additional 4,555 shares in the last quarter. Hedge funds and other institutional investors own 44.53% of the company's stock.

Marathon Digital Price Performance

Marathon Digital stock opened at $17.72 on Friday. Marathon Digital Holdings, Inc. has a 12-month low of $9.81 and a 12-month high of $30.28. The stock has a market capitalization of $6.24 billion, a P/E ratio of -12.22 and a beta of 6.53. The firm's 50-day moving average is $15.23 and its two-hundred day moving average is $15.46. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.79 and a quick ratio of 0.79.

Marathon Digital (NASDAQ:MARA - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The business services provider reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.06). Marathon Digital had a positive return on equity of 6.33% and a negative net margin of 46.68%. The firm had revenue of $213.88 million for the quarter, compared to analyst estimates of $234.19 million. During the same period in the prior year, the business earned $1.26 earnings per share. Marathon Digital's revenue for the quarter was up 29.5% on a year-over-year basis. Equities analysts predict that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Douglas K. Mellinger sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $16.00, for a total value of $48,000.00. Following the sale, the director directly owned 176,859 shares of the company's stock, valued at approximately $2,829,744. This trade represents a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $15.30, for a total transaction of $420,826.50. Following the completion of the sale, the chief executive officer directly owned 3,983,593 shares in the company, valued at $60,948,972.90. This represents a 0.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 198,853 shares of company stock valued at $3,054,629 in the last ninety days. Insiders own 0.80% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MARA. JPMorgan Chase & Co. increased their price target on shares of Marathon Digital from $18.00 to $19.00 and gave the company a "neutral" rating in a report on Friday, June 13th. Piper Sandler dropped their target price on shares of Marathon Digital from $30.00 to $23.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Rosenblatt Securities raised their target price on shares of Marathon Digital from $17.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. HC Wainwright restated a "buy" rating and set a $28.00 target price on shares of Marathon Digital in a report on Thursday, April 24th. Finally, Barclays raised their target price 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $20.94.

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.

Want to see what other hedge funds are holding MARA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.