Marathon Digital Holdings, Inc. (NASDAQ:MARA) Shares Sold by Bank of Montreal Can

Bank of Montreal Can trimmed its position in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 68.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 110,698 shares of the business services provider’s stock after selling 237,057 shares during the quarter. Bank of Montreal Can’s holdings in Marathon Digital were worth $2,148,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of MARA. Vanguard Group Inc. boosted its holdings in Marathon Digital by 26.7% in the 4th 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 during the last quarter. Dimensional Fund Advisors LP boosted its holdings 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 purchasing an additional 2,340,472 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings 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 purchasing an additional 1,327,969 shares during the last quarter. Principal Financial Group Inc. boosted its holdings 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 purchasing an additional 1,324,625 shares during the last quarter. Finally, Public Sector Pension Investment Board acquired a new position in Marathon Digital in the 2nd quarter valued at about $11,920,000. 44.53% of the stock is currently owned by institutional investors and hedge funds.

Marathon Digital Price Performance

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

Marathon Digital (NASDAQ:MARA) last announced its earnings results on Thursday, August 1st. The business services provider reported ($0.72) earnings per share 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 for the quarter, compared to analysts’ expectations of $157.86 million. During the same period in the previous year, the company earned ($0.13) earnings per share. Marathon Digital’s quarterly revenue was up 77.5% on a year-over-year basis. On average, research analysts forecast that Marathon Digital Holdings, Inc. will post -1.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MARA has been the topic of several recent analyst reports. B. Riley upped 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. JPMorgan Chase & Co. decreased their price objective on shares of Marathon Digital from $14.00 to $12.00 and set an “underweight” rating on the stock in a report on Friday, August 23rd. Macquarie initiated coverage on shares of Marathon Digital in a report on Tuesday, September 24th. They issued an “outperform” rating and a $22.00 price objective on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $27.00 price objective on shares of Marathon Digital in a report on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Marathon Digital has a consensus rating of “Hold” and a consensus price target of $19.61.

Insider Buying and Selling at Marathon Digital

In other Marathon Digital news, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Marathon Digital news, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were 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 sale was disclosed in a legal filing with the SEC, which is available at 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 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 $67,169,451.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,212 shares of company stock valued at $726,178. Insiders own 1.11% of the company’s stock.

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.