Louisiana State Employees Retirement System Acquires New Shares in Marathon Digital Holdings, Inc. $MARA

Louisiana State Employees Retirement System bought a new stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 167,700 shares of the business services provider’s stock, valued at approximately $1,368,000.

Several other hedge funds also recently bought and sold shares of the company. WINTON GROUP Ltd bought a new stake in shares of Marathon Digital in the 3rd quarter valued at approximately $4,643,000. Farallon Capital Management LLC raised its position in Marathon Digital by 338.3% during 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 in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Marathon Digital in the fourth quarter valued at approximately $10,201,000. Brevan Howard Capital Management LP lifted its stake in Marathon Digital by 238.7% in the third quarter. Brevan Howard Capital Management LP now owns 195,260 shares of the business services provider’s stock valued at $3,565,000 after acquiring an additional 137,606 shares during the last quarter. Finally, Clear Street Group Inc. acquired a new stake in Marathon Digital in the third quarter valued at approximately $34,331,000. 44.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Marathon Digital news, Director Douglas K. Mellinger sold 7,000 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $16.00, for a total transaction of $112,000.00. Following the completion of the sale, the director directly owned 231,618 shares in the company, valued at $3,705,888. This represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Zabi Nowaid sold 42,090 shares of the firm’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $12.00, for a total value of $505,080.00. Following the completion of the sale, the general counsel directly owned 1,007,047 shares in the company, valued at approximately $12,084,564. This represents a 4.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 194,855 shares of company stock valued at $2,465,975. 0.97% of the stock is owned by corporate insiders.

Marathon Digital Trading Down 7.3%

Shares of MARA stock opened at $12.40 on Friday. Marathon Digital Holdings, Inc. has a 12 month low of $6.66 and a 12 month high of $23.45. The company has a market cap of $4.73 billion, a PE ratio of -2.17 and a beta of 5.36. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.99. The business’s 50 day moving average is $13.31 and its two-hundred day moving average is $10.73.

Analyst Ratings Changes

Several research analysts have recently commented on MARA shares. Rosenblatt Securities increased their price target on shares of Marathon Digital from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Weiss Ratings cut shares of Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, May 12th. Morgan Stanley decreased their price objective on shares of Marathon Digital from $8.50 to $7.00 and set an “underweight” rating for the company in a report on Tuesday, May 19th. BTIG Research reissued a “buy” rating and set a $27.00 target price on shares of Marathon Digital in a research report on Monday, June 1st. Finally, Citizens Jmp assumed coverage on Marathon Digital in a report on Wednesday, June 24th. They set a “market outperform” rating and a $24.00 target price on the stock. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

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.