Compass Rose Asset Management LP Makes New $4.24 Million Investment in Marathon Digital Holdings, Inc. $MARA

Compass Rose Asset Management LP purchased a new stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA) during the 1st quarter, HoldingsChannel reports. The firm purchased 520,000 shares of the business services provider’s stock, valued at approximately $4,243,000. Marathon Digital accounts for about 0.3% of Compass Rose Asset Management LP’s holdings, making the stock its 15th biggest holding.

A number of other hedge funds have also modified their holdings of MARA. Ascentis Independent Advisors purchased a new position in shares of Marathon Digital in the first quarter worth about $28,000. Bogart Wealth LLC boosted its position in Marathon Digital by 4,345.1% in the first quarter. Bogart Wealth LLC now owns 4,045 shares of the business services provider’s stock valued at $33,000 after buying an additional 3,954 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in Marathon Digital in the fourth quarter valued at approximately $36,000. Hantz Financial Services Inc. boosted its position in Marathon Digital by 344.8% in the fourth quarter. Hantz Financial Services Inc. now owns 5,022 shares of the business services provider’s stock valued at $45,000 after buying an additional 3,893 shares during the last quarter. Finally, Danske Bank A S increased its holdings in Marathon Digital by 93.3% in the 4th quarter. Danske Bank A S now owns 5,800 shares of the business services provider’s stock worth $52,000 after buying an additional 2,800 shares during the period. 44.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MARA. BTIG Research reissued a “buy” rating and set a $27.00 price target on shares of Marathon Digital in a research report on Monday, June 1st. Cantor Fitzgerald dropped their price objective on shares of Marathon Digital from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Morgan Stanley cut their price objective on shares of Marathon Digital from $7.00 to $5.50 and set an “underweight” rating on the stock in a research note on Wednesday, July 8th. Piper Sandler reduced their target price on shares of Marathon Digital from $16.00 to $13.00 and set an “overweight” rating for the company in a report on Friday, July 17th. Finally, Weiss Ratings downgraded shares of Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, May 12th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $18.50.

Marathon Digital Stock Up 2.9%

Marathon Digital stock opened at $12.77 on Friday. The firm has a market cap of $4.87 billion, a price-to-earnings ratio of -2.23 and a beta of 5.36. Marathon Digital Holdings, Inc. has a 52 week low of $6.66 and a 52 week high of $23.45. The business’s 50-day moving average price is $13.30 and its 200 day moving average price is $10.98. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.99.

Insider Buying and Selling

In other Marathon Digital news, CEO Frederick G. Thiel sold 27,505 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $14.25, for a total value of $391,946.25. Following the sale, the chief executive officer owned 4,562,009 shares in the company, valued at approximately $65,008,628.25. This represents a 0.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Douglas K. Mellinger sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $16.00, for a total transaction of $112,000.00. Following the sale, the director directly owned 231,618 shares in the company, valued at $3,705,888. The trade was a 2.93% decrease in their position. 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 three months, insiders sold 109,260 shares of company stock valued at $1,452,756. Insiders own 0.97% 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.