Moody National Bank Trust Division Takes $1.86 Million Position in Marathon Digital Holdings, Inc. $MARA

Moody National Bank Trust Division purchased a new position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 133,775 shares of the business services provider’s stock, valued at approximately $1,858,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. CoreCap Advisors LLC lifted its holdings in Marathon Digital by 128.0% in the second quarter. CoreCap Advisors LLC now owns 3,651 shares of the business services provider’s stock valued at $51,000 after buying an additional 2,050 shares during the period. Versant Capital Management Inc boosted its stake in Marathon Digital by 257.3% in the second quarter. Versant Capital Management Inc now owns 4,966 shares of the business services provider’s stock valued at $69,000 after acquiring an additional 3,576 shares during the last quarter. Western Wealth Management LLC grew its holdings in Marathon Digital by 26.1% during the 1st quarter. Western Wealth Management LLC now owns 27,140 shares of the business services provider’s stock worth $221,000 after acquiring an additional 5,610 shares during the period. Empowered Funds LLC grew its holdings in Marathon Digital by 14.2% during the 1st quarter. Empowered Funds LLC now owns 13,091 shares of the business services provider’s stock worth $107,000 after acquiring an additional 1,632 shares during the period. Finally, DV Trading LLC bought a new stake in shares of Marathon Digital during the 1st quarter valued at $99,000. 44.53% of the stock is owned by institutional investors.

Marathon Digital Price Performance

Marathon Digital stock opened at $11.75 on Wednesday. The company has a 50 day moving average of $13.03 and a 200-day moving average of $11.03. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.99. Marathon Digital Holdings, Inc. has a twelve month low of $6.66 and a twelve month high of $23.45. The stock has a market capitalization of $4.48 billion, a PE ratio of -2.05 and a beta of 5.40.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Rosenblatt Securities increased their price target on Marathon Digital from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Weiss Ratings cut Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, May 12th. Cantor Fitzgerald dropped their price objective on Marathon Digital from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Citizens Jmp initiated coverage on Marathon Digital in a research note on Wednesday, June 24th. They issued a “market outperform” rating and a $24.00 target price on the stock. Finally, BTIG Research restated a “buy” rating and set a $27.00 target price on shares of Marathon Digital in a report on Monday, June 1st. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Marathon Digital presently has a consensus rating of “Moderate Buy” and an average price target of $18.50.

Insider Activity at Marathon Digital

In other Marathon Digital news, CFO Salman Hassan Khan sold 16,000 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $14.25, for a total transaction of $228,000.00. Following the completion of the transaction, the chief financial officer owned 409,066 shares in the company, valued at approximately $5,829,190.50. This represents a 3.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Douglas K. Mellinger sold 7,000 shares of Marathon Digital stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $16.00, for a total value of $112,000.00. Following the completion of the sale, the director directly owned 231,618 shares in the company, valued at $3,705,888. This represents a 2.93% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 109,260 shares of company stock valued at $1,452,756. 0.97% of the stock is owned by insiders.

Marathon Digital Company 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.