Louisiana State Employees Retirement System Buys 4,600 Shares of Marathon Digital Holdings, Inc. $MARA

Louisiana State Employees Retirement System grew its holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 2.9% during the second quarter, HoldingsChannel.com reports. The firm owned 164,400 shares of the business services provider’s stock after acquiring an additional 4,600 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Marathon Digital were worth $2,578,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fifth Third Bancorp increased its stake in Marathon Digital by 59.9% in the second quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider’s stock worth $29,000 after purchasing an additional 683 shares during the period. CX Institutional purchased a new stake in Marathon Digital in the first quarter worth $68,000. Archer Investment Corp increased its stake in Marathon Digital by 6,800.0% in the first quarter. Archer Investment Corp now owns 6,900 shares of the business services provider’s stock worth $79,000 after purchasing an additional 6,800 shares during the period. NewEdge Advisors LLC increased its stake in Marathon Digital by 65.3% in the first quarter. NewEdge Advisors LLC now owns 7,672 shares of the business services provider’s stock worth $88,000 after purchasing an additional 3,032 shares during the period. Finally, Stratos Wealth Partners LTD. purchased a new stake in Marathon Digital in the first quarter worth $121,000. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Insider Buying and Selling

In other Marathon Digital news, CFO Salman Hassan Khan sold 34,732 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $16.24, for a total value of $564,047.68. Following the completion of the transaction, the chief financial officer directly owned 318,428 shares of the company’s stock, valued at approximately $5,171,270.72. The trade was a 9.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Frederick G. Thiel sold 27,505 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $17.38, for a total value of $478,036.90. Following the completion of the transaction, the chief executive officer directly owned 3,755,789 shares of the company’s stock, valued at $65,275,612.82. The trade was a 0.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 204,598 shares of company stock valued at $3,486,838 over the last quarter. 0.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MARA has been the topic of a number of recent analyst reports. Cantor Fitzgerald increased their target price on Marathon Digital from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Monday, October 6th. JPMorgan Chase & Co. cut their price target on Marathon Digital from $22.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, September 26th. Compass Point initiated coverage on Marathon Digital in a research note on Monday, September 15th. They set a “neutral” rating and a $18.00 price target on the stock. Piper Sandler raised their price target on Marathon Digital from $23.00 to $26.00 and gave the company an “overweight” rating in a research note on Monday, July 21st. Finally, Macquarie raised their price target on Marathon Digital from $19.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.40.

Marathon Digital Price Performance

Shares of NASDAQ MARA opened at $18.63 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market cap of $6.90 billion, a PE ratio of 16.78 and a beta of 6.33. The business has a 50-day simple moving average of $16.78 and a two-hundred day simple moving average of $15.67. Marathon Digital Holdings, Inc. has a fifty-two week low of $9.81 and a fifty-two week high of $30.28.

Marathon Digital (NASDAQ:MARA) last released its earnings results on Tuesday, July 29th. The business services provider reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $2.13. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%.The firm had revenue of $238.50 million during the quarter, compared to the consensus estimate of $212.25 million. During the same quarter in the previous year, the company posted ($0.72) earnings per share. The company’s revenue was up 64.0% compared to the same quarter last year. As a group, equities analysts expect that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

About Marathon Digital

MARA 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 Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.