The Vanguard Group, Inc. recently announced the acquisition of new stake in Marathon Digital Holdings Inc (NASDAQ:MARA). The institutional investor has increased its shareholding in the Financial company by 5.79% to 18.05 million shares with purchase of 0.99 million shares. This fresh investment now brings its stake to 8.11% valued currently at $216.11 million. In addition, BlackRock Fund Advisors raised its holdings by 0.27 million to 11.21 million shares. And Morgan Stanley & Co. LLC has lifted its position by 237.41% or 4.74 million shares – to 6.73 million shares.
With over 53.7 million Marathon Digital Holdings Inc (MARA) shares trading Friday and a closing price of $18.29 on the day, the dollar volume was approximately $982.18 million. The shares have shown a positive half year performance of 83.27% and its price on 12/15/23 gained nearly 2.64%. Currently, there are 222.62M common shares owned by the public and among those 216.69M shares have been available to trade.
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Insiders at the company have transacted a total of 16 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 12 of these insider trades were purchases, accounting for 222,386 shares. Insider sales of the common stock occurred on 4 occasions, with total insider shares sold totaling 31,000 shares.
The top 3 mutual fund holders in Marathon Digital Holdings Inc are Vanguard Total Stock Market ETF, Vanguard Small Cap Index Fund, and iShares Russell 2000 ETF. Vanguard Total Stock Market ETF owns 5.2 million shares of the company’s stock, all valued at over $62.28 million. The company bought an additional 88947.0 shares recently to bring their total holdings to about 2.34% of the shares outstanding. Vanguard Small Cap Index Fund bought 19970.0 shares to see its total holdings expand to 4.27 million shares valued at over $51.14 million and representing 1.92% of the shares outstanding. iShares Russell 2000 ETF bought 2043.0 shares to bring its total holdings to over 4.16 million shares at a value of $49.76 million. iShares Russell 2000 ETF now owns shares totaling to 1.87% of the shares outstanding.
Shares of Marathon Digital Holdings Inc (NASDAQ: MARA) opened at $17.35, down -$0.47 from a prior closing price of $17.82. However, the script later moved the day high at 18.32, up 2.64%. The company’s stock has a 5-day price change of 9.00% and 86.82% over the past three months. MARA shares are trading 434.80% year to date (YTD), with the 12-month market performance up to 287.50% higher. It has a 12-month low price of $3.11 and touched a high of $19.88 over the same period. MARA has an average intraday trading volume of 39.36 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 37.08%, 73.07%, and 67.82% respectively.
Institutional ownership of Marathon Digital Holdings Inc (NASDAQ: MARA) shares accounts for 37.38% of the company’s 222.62M shares outstanding. Mutual fund holders own 19.68%, while other institutional holders and individual stakeholders account for 2.91% and 18.04% respectively.
It has a market capitalization of $4.07B and a beta (3y monthly) value of 5.14. The earnings-per-share (ttm) stands at -$2.97. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.65% over the week and 8.09% over the month.
Analysts forecast that Marathon Digital Holdings Inc (MARA) will achieve an EPS of -$0.05 for the current quarter, $0.04 for the next quarter and $0.17 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.16 while analysts give the company a high EPS estimate of $0.11. Comparatively, EPS for the current quarter was -$0.53 a year ago. Earnings per share for the fiscal year are expected to increase by 99.95%, and -9623.25% over the next financial year. EPS should grow at an annualized rate of 50.00% over the next five years, compared to 20.62% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate Marathon Digital Holdings Inc (MARA) as a “Moderate Buy” at a consensus score of 2.56. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 5 of the 9 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the MARA, a number of firms have released research notes about the stock. Bernstein stated their Mkt Perform rating for the stock in a research note on October 31, 2023, with the firm’s price target at $8.30.
