Second Line Capital LLC Makes New $4.06 Million Investment in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Second Line Capital LLC acquired a new stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA) in the 2nd quarter, Holdings Channel reports. The firm acquired 204,510 shares of the business services provider’s stock, valued at approximately $4,060,000. Marathon Digital comprises approximately 1.2% of Second Line Capital LLC’s investment portfolio, making the stock its 17th biggest holding.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Marathon Digital by 1.9% during the first quarter. Vanguard Group Inc. now owns 23,915,042 shares of the business services provider’s stock worth $540,002,000 after purchasing an additional 441,455 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Marathon Digital by 261.1% during the second 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 increased its position in shares of Marathon Digital by 186.6% during the second quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider’s stock worth $40,485,000 after acquiring an additional 1,327,969 shares in the last quarter. Principal Financial Group Inc. lifted its position in Marathon Digital by 4,394.8% in the 2nd quarter. Principal Financial Group Inc. now owns 1,354,766 shares of the business services provider’s stock valued at $26,892,000 after acquiring an additional 1,324,625 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of Marathon Digital by 12.7% during the 2nd quarter. Millennium Management LLC now owns 1,333,856 shares of the business services provider’s stock worth $26,477,000 after purchasing an additional 149,805 shares during the period. Institutional investors and hedge funds own 44.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MARA. Macquarie initiated coverage on Marathon Digital in a report on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 price objective for the company. B. Riley raised their price objective on shares of Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. HC Wainwright reissued a “buy” rating and set a $27.00 target price on shares of Marathon Digital in a report on Thursday, June 20th. Finally, JPMorgan Chase & Co. dropped 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. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $19.61.

Marathon Digital Stock Performance

NASDAQ MARA opened at $17.29 on Monday. The company’s 50 day simple moving average is $17.04 and its two-hundred day simple moving average is $18.80. The stock has a market capitalization of $4.89 billion, a PE ratio of 8.04 and a beta of 5.51. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.75 and a quick ratio of 3.75. Marathon Digital Holdings, Inc. has a 1 year low of $7.16 and a 1 year high of $34.09.

Marathon Digital (NASDAQ:MARA) last posted 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 net margin of 62.57% and a negative return on equity of 5.15%. The business had revenue of $145.14 million for the quarter, compared to the consensus estimate of $157.86 million. During the same period in the prior year, the business posted ($0.13) EPS. Marathon Digital’s quarterly revenue was up 77.5% on a year-over-year basis. Analysts predict that Marathon Digital Holdings, Inc. will post -1.06 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Frederick G. Thiel sold 27,512 shares of the company’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 value of $431,938.40. Following the transaction, the chief executive officer now directly owns 4,278,309 shares in the company, valued at $67,169,451.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Frederick G. Thiel sold 27,512 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $15.70, for a total value of $431,938.40. Following the completion of the transaction, the chief executive officer now directly owns 4,278,309 shares in the company, valued at $67,169,451.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Salman Hassan Khan sold 16,700 shares of Marathon Digital stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $15.70, for a total value of $262,190.00. Following the sale, the chief financial officer now directly owns 2,103,347 shares of the company’s stock, valued at approximately $33,022,547.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,212 shares of company stock worth $726,178. 1.11% of the stock is currently owned by insiders.

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.