Mizuho Markets Americas LLC Invests $5.44 Million in Marathon Digital Holdings, Inc. $MARA

Mizuho Markets Americas LLC bought a new stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 297,828 shares of the business services provider’s stock, valued at approximately $5,438,000.

Other large investors also recently added to or reduced their stakes in the company. Marex Group plc acquired a new stake in shares of Marathon Digital in the second quarter valued at $84,301,000. Norges Bank acquired a new position in Marathon Digital in the 2nd quarter valued at about $59,255,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in Marathon Digital by 144.1% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,003,747 shares of the business services provider’s stock worth $15,739,000 after purchasing an additional 592,493 shares during the period. American Century Companies Inc. lifted its position in shares of Marathon Digital by 7.8% during the second quarter. American Century Companies Inc. now owns 6,781,198 shares of the business services provider’s stock worth $106,329,000 after purchasing an additional 491,245 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Marathon Digital by 140.9% in the second quarter. SG Americas Securities LLC now owns 97,690 shares of the business services provider’s stock valued at $1,532,000 after purchasing an additional 336,728 shares during the period. 44.53% of the stock is currently owned by institutional investors and hedge funds.

Marathon Digital Price Performance

MARA stock opened at $11.36 on Monday. The business has a 50 day moving average price of $11.08 and a 200 day moving average price of $15.28. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.63. The stock has a market cap of $4.30 billion, a price-to-earnings ratio of 6.31 and a beta of 5.34. Marathon Digital Holdings, Inc. has a fifty-two week low of $8.95 and a fifty-two week high of $23.45.

Marathon Digital (NASDAQ:MARA) last released its quarterly earnings data on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.06). Marathon Digital had a negative return on equity of 2.59% and a net margin of 100.82%.The company had revenue of $252.41 million for the quarter, compared to analyst estimates of $254.58 million. Equities research analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Piper Sandler cut their target price on shares of Marathon Digital from $26.00 to $16.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 14th. Compass Point raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Monday, November 24th. JPMorgan Chase & Co. decreased their target price on Marathon Digital from $20.00 to $13.00 and set an “overweight” rating for the company in a report on Monday, November 24th. Rosenblatt Securities cut their price target on Marathon Digital from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Finally, Cantor Fitzgerald decreased their price objective on Marathon Digital from $30.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $22.44.

Insider Activity at Marathon Digital

In other news, CFO Salman Hassan Khan sold 34,732 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $11.48, for a total value of $398,723.36. Following the completion of the sale, the chief financial officer directly owned 248,566 shares of the company’s stock, valued at approximately $2,853,537.68. The trade was a 12.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $10.77, for a total value of $296,228.85. Following the transaction, the chief executive officer owned 3,555,489 shares in the company, valued at $38,292,616.53. This represents a 0.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 155,474 shares of company stock valued at $1,937,880 over the last ninety days. Insiders own 0.80% of the company’s stock.

Marathon Digital Profile

Marathon Digital Holdings, Inc is a digital asset technology company specializing in the mining and acquisition of bitcoin. Headquartered in Las Vegas, Nevada, the firm employs high-performance application-specific integrated circuit (ASIC) miners and proprietary software to secure the Bitcoin network and expand its crypto-mining footprint. Marathon Digital focuses on operational efficiency and scalability, while maintaining rigorous standards for regulatory compliance and corporate governance.

The company operates multiple large-scale mining facilities throughout North America, including sites in Texas, Montana and New York.