Amalgamated Bank Grows Stock Holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Amalgamated Bank increased its holdings in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 1,000.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,275 shares of the business services provider’s stock after purchasing an additional 75,706 shares during the period. Amalgamated Bank’s holdings in Marathon Digital were worth $1,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Rhumbline Advisers raised its stake in shares of Marathon Digital by 126.5% during the 2nd quarter. Rhumbline Advisers now owns 786,643 shares of the business services provider’s stock valued at $15,615,000 after buying an additional 439,309 shares during the last quarter. Vima LLC purchased a new stake in Marathon Digital in the 4th quarter worth approximately $949,000. Virtu Financial LLC acquired a new stake in shares of Marathon Digital during the 4th quarter worth approximately $1,629,000. American International Group Inc. increased its holdings in shares of Marathon Digital by 4.3% during the 1st quarter. American International Group Inc. now owns 110,489 shares of the business services provider’s stock valued at $2,495,000 after purchasing an additional 4,593 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Marathon Digital by 22.5% in 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 period. 44.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Marathon Digital

In other Marathon Digital news, CFO Salman Hassan Khan sold 16,700 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $15.70, for a total value of $262,190.00. Following the transaction, the chief financial officer now directly owns 2,103,347 shares of the company’s stock, valued at approximately $33,022,547.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Frederick G. Thiel sold 27,512 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $15.70, for a total transaction of $431,938.40. Following the completion of the sale, the chief executive officer now directly owns 4,278,309 shares in the company, valued at $67,169,451.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Salman Hassan Khan sold 16,700 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $15.70, for a total transaction of $262,190.00. Following the completion of the transaction, the chief financial officer now owns 2,103,347 shares in the company, valued at $33,022,547.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,212 shares of company stock valued at $726,178. Corporate insiders own 1.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. HC Wainwright restated a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a research report on Thursday, June 20th. Macquarie started coverage on Marathon Digital in a research note on Tuesday. They issued an “outperform” rating and a $22.00 price target for the company. B. Riley increased their price target on Marathon Digital from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, July 12th. Finally, JPMorgan Chase & Co. cut their price objective on Marathon Digital from $14.00 to $12.00 and set an “underweight” rating for the company in a research report on Friday, August 23rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $19.61.

Marathon Digital Stock Performance

NASDAQ MARA opened at $16.14 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.75 and a quick ratio of 3.75. Marathon Digital Holdings, Inc. has a 1-year low of $7.16 and a 1-year high of $34.09. The company has a market cap of $4.75 billion, a PE ratio of 7.51 and a beta of 5.51. The stock’s 50 day simple moving average is $17.32 and its 200-day simple moving average is $18.85.

Marathon Digital (NASDAQ:MARA) last announced its earnings results on Thursday, August 1st. The business services provider reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.49). The business had revenue of $145.14 million for the quarter, compared to analyst estimates of $157.86 million. Marathon Digital had a negative return on equity of 5.15% and a net margin of 62.57%. The company’s revenue for the quarter was up 77.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.13) EPS. As a group, equities research analysts anticipate that Marathon Digital Holdings, Inc. will post -1.06 EPS for the current fiscal year.

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.