Marathon Digital Holdings, Inc. (NASDAQ:MARA) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lessened its holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 71.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,454 shares of the business services provider’s stock after selling 107,008 shares during the quarter. SG Americas Securities LLC’s holdings in Marathon Digital were worth $689,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Marathon Digital by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 23,915,042 shares of the business services provider’s stock valued at $540,002,000 after buying an additional 441,455 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of 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 worth $64,249,000 after purchasing an additional 2,340,472 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Marathon Digital by 186.6% during 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 purchasing an additional 1,327,969 shares during the period. Principal Financial Group Inc. grew its stake 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 buying an additional 1,324,625 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in Marathon Digital by 12.7% in the second quarter. Millennium Management LLC now owns 1,333,856 shares of the business services provider’s stock valued at $26,477,000 after buying an additional 149,805 shares during the last quarter. Institutional investors own 44.53% of the company’s stock.

Insider Buying and Selling at Marathon Digital

In other news, CEO Frederick G. Thiel sold 27,512 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $15.70, for a total transaction of $431,938.40. Following the completion of the sale, the chief executive officer now directly owns 4,278,309 shares of the company’s stock, valued at $67,169,451.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Salman Hassan Khan sold 16,700 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $15.70, for a total transaction of $262,190.00. Following the sale, the chief financial officer now owns 2,103,347 shares in the company, valued at $33,022,547.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Frederick G. Thiel sold 27,512 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $15.70, for a total transaction of $431,938.40. Following the completion of the transaction, the chief executive officer now directly owns 4,278,309 shares of the company’s stock, valued at $67,169,451.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,212 shares of company stock valued at $726,178. Corporate insiders own 1.11% of the company’s stock.

Marathon Digital Trading Up 5.6 %

Shares of MARA stock opened at $16.08 on Monday. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.13. The stock has a 50-day simple moving average of $16.11 and a 200 day simple moving average of $18.46. Marathon Digital Holdings, Inc. has a fifty-two week low of $7.55 and a fifty-two week high of $34.09. The stock has a market capitalization of $4.55 billion, a P/E ratio of 7.48 and a beta of 5.50.

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

Analyst Ratings Changes

Several research firms have recently commented on MARA. Macquarie assumed coverage on shares of Marathon Digital in a research report on Tuesday, September 24th. They set an “outperform” rating and a $22.00 price target for the company. Cantor Fitzgerald assumed coverage on shares of Marathon Digital in a research note on Thursday. They issued an “overweight” rating and a $21.00 price target on the stock. JPMorgan Chase & Co. reduced their price objective on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a research report on Friday, August 23rd. HC Wainwright reaffirmed a “buy” rating and set a $27.00 target price on shares of Marathon Digital in a research note on Thursday. Finally, B. Riley increased their price target on Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Marathon Digital has a consensus rating of “Hold” and an average target price of $19.79.

Marathon Digital Company Profile

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.