Hound Partners LLC Makes New $31.40 Million Investment in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Hound Partners LLC bought a new position in Marathon Digital Holdings, Inc. (NASDAQ:MARA) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 653,882 shares of the business services provider’s stock, valued at approximately $31,399,000. Marathon Digital accounts for approximately 1.5% of Hound Partners LLC’s holdings, making the stock its 24th biggest position.

Several other institutional investors and hedge funds have also recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in shares of Marathon Digital by 267,807.0% during the fourth quarter. BlackRock Inc. now owns 809,079 shares of the business services provider’s stock worth $8,446,000 after purchasing an additional 808,777 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Marathon Digital during the fourth quarter worth approximately $318,000. Citigroup Inc. acquired a new stake in shares of Marathon Digital during the fourth quarter worth approximately $405,000. Northern Trust Corp boosted its holdings in shares of Marathon Digital by 148.5% during the fourth quarter. Northern Trust Corp now owns 83,620 shares of the business services provider’s stock worth $873,000 after purchasing an additional 49,971 shares during the period. Finally, LPL Financial LLC acquired a new stake in shares of Marathon Digital during the fourth quarter worth approximately $602,000. Institutional investors own 24.69% of the company’s stock.

Several analysts recently commented on the stock. B. Riley raised their price target on shares of Marathon Digital from $47.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, July 1st. Compass Point began coverage on shares of Marathon Digital in a report on Monday, June 21st. They set a “buy” rating and a $40.00 price target for the company. Finally, Zacks Investment Research lowered shares of Marathon Digital from a “strong-buy” rating to a “strong sell” rating in a research report on Tuesday, May 18th.

MARA traded up $0.40 during midday trading on Thursday, hitting $25.46. 294,855 shares of the company’s stock traded hands, compared to its average volume of 7,189,999. The company’s fifty day moving average price is $26.18. Marathon Digital Holdings, Inc. has a one year low of $0.91 and a one year high of $57.75.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings data on Monday, May 10th. The business services provider reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.22). The business had revenue of $9.15 million for the quarter, compared to the consensus estimate of $11.30 million. Marathon Digital had a net margin of 572.60% and a negative return on equity of 10.66%. As a group, research analysts expect that Marathon Digital Holdings, Inc. will post 1.21 EPS for the current year.

Marathon Digital Profile

Marathon Digital Holdings, Inc operates as a digital asset technology company that mines cryptocurrencies with a focus on the blockchain ecosystem and the generation of digital assets 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.

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Institutional Ownership by Quarter for Marathon Digital (NASDAQ:MARA)

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