BI Asset Management Fondsmaeglerselskab A S Sells 251,199 Shares of Marathon Digital Holdings, Inc. $MARA

BI Asset Management Fondsmaeglerselskab A S lessened its stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA) by 84.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,191 shares of the business services provider’s stock after selling 251,199 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Marathon Digital were worth $406,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MARA. Vanguard Group Inc. grew its stake in Marathon Digital by 9.8% in the third quarter. Vanguard Group Inc. now owns 45,311,718 shares of the business services provider’s stock valued at $827,392,000 after acquiring an additional 4,049,979 shares during the period. WINTON GROUP Ltd acquired a new position in Marathon Digital in the third quarter valued at about $4,643,000. Farallon Capital Management LLC grew its stake in Marathon Digital by 338.3% in the third quarter. Farallon Capital Management LLC now owns 3,660,000 shares of the business services provider’s stock valued at $66,832,000 after acquiring an additional 2,825,000 shares during the period. Stevens Capital Management LP grew its stake in Marathon Digital by 446.6% in the third quarter. Stevens Capital Management LP now owns 319,549 shares of the business services provider’s stock valued at $5,835,000 after acquiring an additional 261,085 shares during the period. Finally, Public Sector Pension Investment Board grew its stake in Marathon Digital by 20.4% in the third quarter. Public Sector Pension Investment Board now owns 1,445,051 shares of the business services provider’s stock valued at $26,387,000 after acquiring an additional 245,222 shares during the period. Institutional investors own 44.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MARA. Cantor Fitzgerald reduced their price objective on Marathon Digital from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. BTIG Research reaffirmed a “buy” rating and set a $27.00 price objective on shares of Marathon Digital in a research report on Monday, June 1st. HC Wainwright reaffirmed a “neutral” rating on shares of Marathon Digital in a research report on Friday, February 27th. Weiss Ratings cut Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, May 12th. Finally, Rosenblatt Securities increased their price target on Marathon Digital from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $18.38.

Insider Transactions at Marathon Digital

In related news, General Counsel Zabi Nowaid sold 42,090 shares of the stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $12.00, for a total transaction of $505,080.00. Following the sale, the general counsel owned 1,007,047 shares of the company’s stock, valued at $12,084,564. This represents a 4.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $9.18, for a total value of $252,495.90. Following the sale, the chief executive officer directly owned 4,788,954 shares in the company, valued at $43,962,597.72. This represents a 0.57% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 180,855 shares of company stock worth $2,033,654. Company insiders own 0.80% of the company’s stock.

Marathon Digital Price Performance

Shares of NASDAQ MARA opened at $12.62 on Thursday. The firm has a market cap of $4.81 billion, a P/E ratio of -2.21 and a beta of 5.38. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.99. Marathon Digital Holdings, Inc. has a 1-year low of $6.66 and a 1-year high of $23.45. The business’s 50 day moving average is $11.96 and its 200-day moving average is $10.46.

Marathon Digital Company Profile

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.