Clear Street Group Inc. Purchases New Position in Marathon Digital Holdings, Inc. $MARA

Clear Street Group Inc. purchased a new stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) in the third quarter, Holdings Channel.com reports. The firm purchased 1,880,100 shares of the business services provider’s stock, valued at approximately $34,331,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Hollencrest Capital Management raised its stake in shares of Marathon Digital by 2,407.4% in the third quarter. Hollencrest Capital Management now owns 1,354 shares of the business services provider’s stock worth $25,000 after purchasing an additional 1,300 shares during the last quarter. Estabrook Capital Management bought a new position in Marathon Digital during the 2nd quarter valued at $31,000. Bessemer Group Inc. boosted its holdings in Marathon Digital by 56.8% during the 3rd quarter. Bessemer Group Inc. now owns 1,819 shares of the business services provider’s stock worth $33,000 after acquiring an additional 659 shares during the last quarter. Salomon & Ludwin LLC purchased a new position in Marathon Digital during the 3rd quarter worth $47,000. Finally, Smartleaf Asset Management LLC grew its stake in shares of Marathon Digital by 303.6% in the 2nd quarter. Smartleaf Asset Management LLC now owns 5,013 shares of the business services provider’s stock worth $75,000 after acquiring an additional 3,771 shares in the last quarter. 44.53% of the stock is owned by institutional investors.

Marathon Digital Trading Up 6.4%

NASDAQ MARA opened at $9.32 on Friday. The business’s fifty day moving average is $9.17 and its 200-day moving average is $13.00. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.27 and a quick ratio of 1.27. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of -2.35 and a beta of 5.51. Marathon Digital Holdings, Inc. has a one year low of $6.66 and a one year high of $23.45.

Marathon Digital (NASDAQ:MARA) last posted its quarterly earnings results on Thursday, February 26th. The business services provider reported ($4.52) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($4.29). Marathon Digital had a negative net margin of 144.58% and a negative return on equity of 19.01%. The company had revenue of $202.31 million for the quarter, compared to the consensus estimate of $250.74 million. During the same quarter in the previous year, the company posted $1.24 EPS. Marathon Digital’s quarterly revenue was down 5.6% compared to the same quarter last year. Equities research analysts predict that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MARA shares. Cantor Fitzgerald dropped their price target on shares of Marathon Digital from $21.00 to $11.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. HC Wainwright reaffirmed a “neutral” rating on shares of Marathon Digital in a research report on Friday, February 27th. Piper Sandler decreased their price objective on shares of Marathon Digital from $26.00 to $16.00 and set an “overweight” rating for the company in a research note on Wednesday, January 14th. Compass Point raised shares of Marathon Digital from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Monday, November 24th. Finally, Weiss Ratings downgraded Marathon Digital from a “hold (c-)” rating to a “sell (d)” rating in a research note on Friday, March 6th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $20.00.

Insider Buying and Selling

In other news, CFO Salman Hassan Khan sold 34,732 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $11.48, for a total transaction of $398,723.36. Following the completion of the sale, the chief financial officer owned 248,566 shares in the company, valued at $2,853,537.68. This trade represents a 12.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $10.80, for a total value of $297,054.00. Following the completion of the transaction, the chief executive officer owned 3,517,566 shares in the company, valued at approximately $37,989,712.80. The trade was a 0.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 133,247 shares of company stock valued at $1,325,255 over the last three months. Insiders own 0.80% of the company’s stock.

Marathon Digital 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.