1,001,177 Shares in Marathon Digital Holdings, Inc. $MARA Purchased by Nuveen LLC

Key Points

• Nuveen LLC acquired over 1 million shares of Marathon Digital Holdings, valued at approximately $11.5 million, representing a 0.28% ownership stake in the company.
• Marathon Digital's stock is currently rated as a "Moderate Buy" by analysts, with an average target price set at $24.22 after several brokerages raised their price targets recently.
• The company reported a significant quarterly revenue increase of 64.0% year-over-year, reaching $238.5 million, with an EPS of $1.84 that beat analysts' estimates by $2.13.

Nuveen LLC purchased a new stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,001,177 shares of the business services provider's stock, valued at approximately $11,514,000. Nuveen LLC owned 0.28% of Marathon Digital at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of MARA. Raymond James Financial Inc. acquired a new stake in shares of Marathon Digital in the 4th quarter valued at approximately $1,408,000. Sterling Capital Management LLC lifted its holdings in shares of Marathon Digital by 358.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider's stock valued at $31,000 after buying an additional 1,426 shares during the period. Rockefeller Capital Management L.P. acquired a new stake in shares of Marathon Digital in the 4th quarter valued at approximately $311,000. NewEdge Advisors LLC lifted its holdings in shares of Marathon Digital by 28.9% in the 4th quarter. NewEdge Advisors LLC now owns 4,640 shares of the business services provider's stock valued at $78,000 after buying an additional 1,040 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of Marathon Digital in the 4th quarter valued at approximately $4,209,000. 44.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on MARA. JPMorgan Chase & Co. raised Marathon Digital from a "neutral" rating to an "overweight" rating and raised their price target for the company from $19.00 to $22.00 in a report on Monday, July 28th. Macquarie upped their price target on Marathon Digital from $19.00 to $26.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Compass Point upgraded Marathon Digital from a "sell" rating to a "neutral" rating and upped their price target for the stock from $9.50 to $18.00 in a report on Friday, July 25th. Cantor Fitzgerald upped their price target on Marathon Digital from $34.00 to $39.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Finally, Barclays upped their price target on Marathon Digital from $14.00 to $16.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.22.

Insider Buying and Selling at Marathon Digital

In related news, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $15.28, for a total value of $420,276.40. Following the completion of the sale, the chief executive officer directly owned 3,810,799 shares in the company, valued at approximately $58,229,008.72. This represents a 0.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Salman Hassan Khan sold 34,732 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $15.73, for a total value of $546,334.36. Following the completion of the sale, the chief financial officer owned 353,160 shares of the company's stock, valued at approximately $5,555,206.80. This represents a 8.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 189,712 shares of company stock valued at $3,186,128. 0.80% of the stock is owned by insiders.

Marathon Digital Trading Up 2.9%

Shares of Marathon Digital stock traded up $0.44 during trading hours on Tuesday, reaching $15.84. 50,703,529 shares of the company's stock were exchanged, compared to its average volume of 41,924,396. Marathon Digital Holdings, Inc. has a 52-week low of $9.81 and a 52-week high of $30.28. The firm has a market capitalization of $5.87 billion, a price-to-earnings ratio of 14.27 and a beta of 6.24. The company has a fifty day moving average of $16.60 and a 200-day moving average of $14.99. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.47.

Marathon Digital (NASDAQ:MARA - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.84 earnings per share for the quarter, topping analysts' consensus estimates of ($0.29) by $2.13. The company had revenue of $238.50 million for the quarter, compared to analyst estimates of $212.25 million. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%.The business's revenue for the quarter was up 64.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.72) EPS. Sell-side analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

About Marathon Digital

MARA Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.