Dimensional Fund Advisors LP Has $64.25 Million Stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Dimensional Fund Advisors LP grew its stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 261.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,236,920 shares of the business services provider’s stock after purchasing an additional 2,340,472 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.14% of Marathon Digital worth $64,249,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Marathon Digital by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 23,915,042 shares of the business services provider’s stock worth $540,002,000 after purchasing an additional 441,455 shares during the period. Bank of New York Mellon Corp raised its position in Marathon Digital by 186.6% during the second quarter. Bank of New York Mellon Corp now owns 2,039,569 shares of the business services provider’s stock valued at $40,485,000 after purchasing an additional 1,327,969 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Marathon Digital by 4,394.8% during the second quarter. Principal Financial Group Inc. now owns 1,354,766 shares of the business services provider’s stock worth $26,892,000 after acquiring an additional 1,324,625 shares in the last quarter. Van ECK Associates Corp boosted its position in Marathon Digital by 54.7% during the second quarter. Van ECK Associates Corp now owns 980,320 shares of the business services provider’s stock valued at $19,459,000 after buying an additional 346,637 shares during the period. Finally, Rhumbline Advisers lifted its position in Marathon Digital by 126.5% in the second quarter. Rhumbline Advisers now owns 786,643 shares of the business services provider’s stock valued at $15,615,000 after purchasing an additional 439,309 shares during the last quarter. Hedge funds and other institutional investors own 44.53% of the company’s stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

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

Marathon Digital Stock Down 1.3 %

Shares of NASDAQ:MARA opened at $17.29 on Friday. The company has a market cap of $4.89 billion, a price-to-earnings ratio of 8.04 and a beta of 5.51. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $17.04 and a 200 day moving average price of $18.81. Marathon Digital Holdings, Inc. has a 12 month low of $7.16 and a 12 month high of $34.09.

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

Marathon Digital Profile

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.