The Manufacturers Life Insurance Company Has $3.27 Million Stock Position in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

The Manufacturers Life Insurance Company lifted its stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 27.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,561 shares of the business services provider’s stock after purchasing an additional 35,802 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.06% of Marathon Digital worth $3,267,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Beaird Harris Wealth Management LLC boosted its holdings in Marathon Digital by 121.1% in the first quarter. Beaird Harris Wealth Management LLC now owns 1,269 shares of the business services provider’s stock worth $29,000 after acquiring an additional 695 shares in the last quarter. FinTrust Capital Advisors LLC bought a new position in shares of Marathon Digital in the 1st quarter worth $90,000. DekaBank Deutsche Girozentrale acquired a new stake in Marathon Digital in the 1st quarter valued at $105,000. GAMMA Investing LLC increased its stake in Marathon Digital by 108.0% during the 2nd quarter. GAMMA Investing LLC now owns 6,865 shares of the business services provider’s stock valued at $136,000 after purchasing an additional 3,565 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in Marathon Digital by 1,555.6% during the second quarter. 1832 Asset Management L.P. now owns 8,278 shares of the business services provider’s stock worth $164,000 after buying an additional 7,778 shares during the last quarter. 44.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MARA has been the subject of a number of analyst reports. Macquarie started coverage on shares of Marathon Digital in a research report on Tuesday, September 24th. They set an “outperform” rating and a $22.00 target price for the company. HC Wainwright reissued a “buy” rating and set a $27.00 price objective on shares of Marathon Digital in a report on Thursday, June 20th. JPMorgan Chase & Co. lowered their price objective on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a research note on Friday, August 23rd. Finally, B. Riley lifted their target price 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 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $19.61.

Insiders Place Their Bets

In other Marathon Digital news, CFO Salman Hassan Khan sold 16,700 shares of the firm’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 2,103,347 shares of the company’s stock, valued at $33,022,547.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Salman Hassan Khan sold 16,700 shares of Marathon Digital 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 completion of the transaction, the chief financial officer now owns 2,103,347 shares in the company, valued at $33,022,547.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frederick G. Thiel sold 27,512 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were 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 in the company, valued at approximately $67,169,451.30. This trade 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. Company insiders own 1.11% of the company’s stock.

Marathon Digital Stock Performance

MARA stock opened at $15.83 on Wednesday. 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 firm has a market cap of $4.48 billion, a PE ratio of 7.36 and a beta of 5.50. The business has a 50 day moving average of $16.28 and a 200-day moving average of $18.58. Marathon Digital Holdings, Inc. has a 12-month low of $7.55 and a 12-month high of $34.09.

Marathon Digital (NASDAQ:MARA) last announced its earnings results 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). The business had revenue of $145.14 million for the quarter, compared to analysts’ expectations of $157.86 million. Marathon Digital had a net margin of 62.57% and a negative return on equity of 5.15%. The company’s revenue for the quarter was up 77.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.13) earnings per share. As a group, sell-side analysts expect that Marathon Digital Holdings, Inc. will post -1.06 earnings per share 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.