Millennium Management LLC Buys 149,805 Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Millennium Management LLC boosted its stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 12.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,333,856 shares of the business services provider’s stock after acquiring an additional 149,805 shares during the quarter. Millennium Management LLC owned 0.47% of Marathon Digital worth $26,477,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MARA. Vanguard Group Inc. lifted its holdings in shares of Marathon Digital by 26.7% in the fourth quarter. Vanguard Group Inc. now owns 23,473,587 shares of the business services provider’s stock valued at $551,395,000 after purchasing an additional 4,950,392 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Marathon Digital by 261.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,236,920 shares of the business services provider’s stock valued at $64,249,000 after buying an additional 2,340,472 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Marathon Digital by 186.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider’s stock valued at $40,485,000 after acquiring an additional 1,327,969 shares in the last quarter. Principal Financial Group Inc. boosted its position in Marathon Digital by 4,394.8% during the 2nd quarter. Principal Financial Group Inc. now owns 1,354,766 shares of the business services provider’s stock worth $26,892,000 after acquiring an additional 1,324,625 shares during the last quarter. Finally, Public Sector Pension Investment Board acquired a new position in Marathon Digital during the 2nd quarter worth approximately $11,920,000. 44.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MARA shares. HC Wainwright reissued a “buy” rating and issued a $27.00 price objective on shares of Marathon Digital in a research report on Thursday, June 20th. Macquarie started coverage on shares of Marathon Digital in a research note on Tuesday, September 24th. They set an “outperform” rating and a $22.00 price objective for the company. JPMorgan Chase & Co. lowered their target price on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating on the stock in a research report on Friday, August 23rd. Finally, B. Riley increased their price target on Marathon Digital from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $19.61.

Insiders Place Their Bets

In other news, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $15.70, for a total value of $262,190.00. Following the transaction, the chief financial officer now directly owns 2,103,347 shares of the company’s stock, valued at $33,022,547.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Salman Hassan Khan sold 16,700 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $15.70, for a total value of $262,190.00. Following the transaction, the chief financial officer now owns 2,103,347 shares of the company’s stock, valued at $33,022,547.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frederick G. Thiel sold 27,512 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $15.70, for a total value of $431,938.40. Following the transaction, the chief executive officer now owns 4,278,309 shares in the company, valued at approximately $67,169,451.30. The disclosure for this sale can be found here. Insiders sold a total of 46,212 shares of company stock valued at $726,178 over the last ninety days. 1.11% of the stock is currently owned by company insiders.

Marathon Digital Stock Up 1.7 %

Shares of MARA stock opened at $15.47 on Friday. Marathon Digital Holdings, Inc. has a 52-week low of $7.16 and a 52-week high of $34.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.75 and a current ratio of 3.75. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 7.20 and a beta of 5.51. The firm’s 50-day moving average is $16.65 and its 200-day moving average is $18.73.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings data on Thursday, August 1st. The business services provider reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.49). The business had revenue of $145.14 million during the quarter, compared to analyst estimates of $157.86 million. Marathon Digital had a net margin of 62.57% and a negative return on equity of 5.15%. The business’s quarterly revenue was up 77.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.13) earnings per share. Sell-side analysts predict that Marathon Digital Holdings, Inc. will post -1.06 EPS for the current year.

About Marathon Digital

Marathon Digital 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 Patent Group, Inc and changed its name to Marathon Digital Holdings, Inc in February 2021. Marathon Digital Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.