Marathon Digital Holdings, Inc. (NASDAQ:MARA) Holdings Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 186.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,039,569 shares of the business services provider’s stock after acquiring an additional 1,327,969 shares during the period. Bank of New York Mellon Corp owned 0.72% of Marathon Digital worth $40,485,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MARA. International Assets Investment Management LLC purchased a new position in Marathon Digital in the fourth quarter valued at about $930,000. CWM LLC grew its stake in shares of Marathon Digital by 62.5% in the 4th quarter. CWM LLC now owns 4,560 shares of the business services provider’s stock valued at $107,000 after buying an additional 1,754 shares in the last quarter. New York State Common Retirement Fund increased its holdings in Marathon Digital by 26.6% in the fourth quarter. New York State Common Retirement Fund now owns 89,887 shares of the business services provider’s stock worth $2,111,000 after buying an additional 18,890 shares during the last quarter. Victory Capital Management Inc. raised its position in Marathon Digital by 57.2% during the fourth quarter. Victory Capital Management Inc. now owns 29,204 shares of the business services provider’s stock valued at $686,000 after acquiring an additional 10,627 shares in the last quarter. Finally, Swiss National Bank lifted its stake in Marathon Digital by 11.6% in the fourth quarter. Swiss National Bank now owns 417,000 shares of the business services provider’s stock valued at $9,795,000 after acquiring an additional 43,300 shares during the last quarter. 44.53% of the stock is owned by institutional investors and hedge funds.

Marathon Digital Price Performance

Shares of NASDAQ:MARA opened at $16.70 on Monday. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average price of $19.29 and a 200 day moving average price of $20.08. The company has a market cap of $4.92 billion, a price-to-earnings ratio of 7.77 and a beta of 5.56. Marathon Digital Holdings, Inc. has a twelve month low of $7.16 and a twelve month high of $34.09.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings data on Thursday, August 1st. The business services provider reported ($0.72) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $145.14 million during the quarter, compared to the consensus estimate of $157.86 million. During the same period in the prior year, the company posted ($0.13) earnings per share. The firm’s revenue was up 77.5% compared to the same quarter last year. Research analysts predict that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current year.

Analysts Set New Price Targets

MARA has been the topic of a number of recent research reports. StockNews.com downgraded shares of Marathon Digital from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price target on shares of Marathon Digital in a research report on Thursday, June 20th. Chardan Capital decreased their price target on Marathon Digital from $30.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, May 8th. JPMorgan Chase & Co. cut their price objective on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Friday, August 23rd. Finally, B. Riley upped their target price on Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, July 12th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $19.22.

Insiders Place Their Bets

In other news, Director Said Ouissal sold 10,217 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $20.50, for a total transaction of $209,448.50. Following the completion of the transaction, the director now owns 60,046 shares of the company’s stock, valued at $1,230,943. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.11% of the company’s stock.

About Marathon Digital

Marathon Digital 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 Patent Group, Inc and changed its name to Marathon Digital Holdings, Inc in February 2021. Marathon Digital Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.