Hsbc Holdings PLC Raises Stake in Marathon Digital Holdings, Inc. $MARA

Hsbc Holdings PLC raised its stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 11.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 634,172 shares of the business services provider’s stock after buying an additional 65,220 shares during the quarter. Hsbc Holdings PLC owned about 0.17% of Marathon Digital worth $5,099,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA acquired a new position in shares of Marathon Digital during the fourth quarter valued at $10,201,000. Exchange Traded Concepts LLC grew its position in Marathon Digital by 47.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,539,210 shares of the business services provider’s stock valued at $13,822,000 after buying an additional 494,161 shares in the last quarter. New York State Teachers Retirement System grew its position in Marathon Digital by 28.9% in the 4th quarter. New York State Teachers Retirement System now owns 427,726 shares of the business services provider’s stock valued at $3,841,000 after buying an additional 95,970 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Marathon Digital by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 46,706,277 shares of the business services provider’s stock worth $419,422,000 after buying an additional 1,394,559 shares in the last quarter. Finally, Handelsbanken Fonder AB bought a new stake in shares of Marathon Digital during the 4th quarter worth about $831,000. 44.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Douglas K. Mellinger sold 7,000 shares of the stock in a transaction dated Monday, June 22nd. The stock was 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 of the company’s stock, valued at approximately $3,705,888. This represents a 2.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $14.25, for a total value of $391,946.25. Following the sale, the chief executive officer owned 4,562,009 shares of the company’s stock, valued at $65,008,628.25. The trade was a 0.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 109,260 shares of company stock valued at $1,452,756 over the last ninety days. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Piper Sandler decreased their price objective on shares of Marathon Digital from $16.00 to $13.00 and set an “overweight” rating for the company in a report on Friday, July 17th. BTIG Research reissued a “buy” rating and set a $27.00 target price on shares of Marathon Digital in a report on Monday, June 1st. Rosenblatt Securities upped their target price on Marathon Digital from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Morgan Stanley decreased their price target on Marathon Digital from $7.00 to $5.50 and set an “underweight” rating for the company in a research note on Wednesday, July 8th. Finally, Cantor Fitzgerald lowered their price target on Marathon Digital from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Marathon Digital has a consensus rating of “Moderate Buy” and a consensus target price of $18.50.

Marathon Digital Price Performance

Shares of NASDAQ:MARA opened at $12.77 on Friday. The company’s fifty day moving average is $13.30 and its two-hundred day moving average is $10.98. The company has a market cap of $4.87 billion, a P/E ratio of -2.23 and a beta of 5.36. Marathon Digital Holdings, Inc. has a 12-month low of $6.66 and a 12-month high of $23.45. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.99.

About Marathon Digital

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.