Assenagon Asset Management S.A. Acquires 47,965 Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Assenagon Asset Management S.A. lifted its holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 50.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 143,188 shares of the business services provider’s stock after buying an additional 47,965 shares during the period. Assenagon Asset Management S.A. owned about 0.05% of Marathon Digital worth $2,323,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its holdings in Marathon Digital by 91.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 52,624 shares of the business services provider’s stock valued at $1,188,000 after purchasing an additional 25,205 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Marathon Digital by 22.5% during the 1st quarter. Principal Financial Group Inc. now owns 30,141 shares of the business services provider’s stock valued at $681,000 after purchasing an additional 5,534 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in Marathon Digital by 2.1% during the 1st quarter. Commonwealth Equity Services LLC now owns 70,974 shares of the business services provider’s stock valued at $1,603,000 after purchasing an additional 1,430 shares during the last quarter. Private Advisor Group LLC grew its holdings in Marathon Digital by 9.3% during the 1st quarter. Private Advisor Group LLC now owns 40,203 shares of the business services provider’s stock valued at $908,000 after purchasing an additional 3,421 shares during the last quarter. Finally, FinTrust Capital Advisors LLC bought a new position in Marathon Digital during the 1st quarter valued at about $90,000. 44.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MARA has been the topic of several analyst reports. Macquarie initiated coverage on shares of Marathon Digital in a report on Tuesday, September 24th. They set an “outperform” rating and a $22.00 price target on the stock. B. Riley upped their target price on shares of Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. Cantor Fitzgerald initiated coverage on shares of Marathon Digital in a research note on Thursday, October 10th. They issued an “overweight” rating and a $21.00 target price on the stock. HC Wainwright restated a “buy” rating and issued a $27.00 target price on shares of Marathon Digital in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Marathon Digital from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Friday, August 23rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $21.43.

Insider Activity at Marathon Digital

In related news, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total transaction of $481,337.50. Following the completion of the sale, the chief executive officer now owns 4,250,804 shares of the company’s stock, valued at $74,389,070. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Salman Hassan Khan sold 16,700 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total transaction of $292,250.00. Following the completion of the sale, the chief financial officer now owns 2,077,232 shares of the company’s stock, valued at $36,351,560. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $17.50, for a total transaction of $481,337.50. Following the sale, the chief executive officer now directly owns 4,250,804 shares of the company’s stock, valued at $74,389,070. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 91,417 shares of company stock valued at $1,516,536 over the last 90 days. Insiders own 1.11% of the company’s stock.

Marathon Digital Price Performance

Shares of MARA opened at $16.77 on Friday. The company has a 50 day moving average price of $16.59 and a 200-day moving average price of $18.37. Marathon Digital Holdings, Inc. has a fifty-two week low of $8.39 and a fifty-two week high of $34.09. The stock has a market capitalization of $4.74 billion, a PE ratio of 7.79 and a beta of 5.50. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.75 and a current ratio of 3.75.

Marathon Digital (NASDAQ:MARA) last posted its earnings results on Thursday, August 1st. The business services provider reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.49). Marathon Digital had a net margin of 62.57% and a negative return on equity of 5.15%. The firm 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) EPS. The company’s revenue was up 77.5% on a year-over-year basis. Equities analysts predict that Marathon Digital Holdings, Inc. will post -1.05 earnings per share 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.