1,001,177 Shares in Marathon Digital Holdings, Inc. $MARA Bought 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 bought a new position in Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 1,001,177 shares of the business services provider's stock, valued at approximately $11,514,000. Nuveen LLC owned approximately 0.28% of Marathon Digital as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Janney Montgomery Scott LLC increased its holdings in Marathon Digital by 307.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 63,371 shares of the business services provider's stock worth $729,000 after purchasing an additional 47,826 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Marathon Digital by 1,521.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,823 shares of the business services provider's stock worth $147,000 after purchasing an additional 12,032 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Marathon Digital by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 207,839 shares of the business services provider's stock worth $3,485,000 after purchasing an additional 3,998 shares in the last quarter. Stifel Financial Corp increased its holdings in Marathon Digital by 59.3% in the 4th quarter. Stifel Financial Corp now owns 41,497 shares of the business services provider's stock worth $696,000 after purchasing an additional 15,447 shares in the last quarter. Finally, Yousif Capital Management LLC increased its holdings in Marathon Digital by 3.5% in the 1st quarter. Yousif Capital Management LLC now owns 125,578 shares of the business services provider's stock worth $1,444,000 after purchasing an additional 4,297 shares in the last quarter. Institutional investors and hedge funds own 44.53% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on MARA. Barclays upped their target price on Marathon Digital from $14.00 to $16.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Compass Point raised Marathon Digital from a "sell" rating to a "neutral" rating and increased their price target for the company from $9.50 to $18.00 in a research note on Friday, July 25th. Cantor Fitzgerald increased their price target on Marathon Digital from $34.00 to $39.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Rosenblatt Securities reissued a "buy" rating and issued a $20.00 price target on shares of Marathon Digital in a research note on Wednesday, July 30th. Finally, Piper Sandler increased their price target on Marathon Digital from $23.00 to $26.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $24.22.

Marathon Digital Stock Up 5.0%

Shares of Marathon Digital stock opened at $16.29 on Friday. Marathon Digital Holdings, Inc. has a one year low of $9.81 and a one year high of $30.28. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.54 and a quick ratio of 0.54. The stock's 50-day moving average is $16.57 and its 200 day moving average is $15.02. The firm has a market cap of $6.03 billion, a price-to-earnings ratio of 14.68 and a beta of 6.24.

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

Insider Activity

In related news, CEO Frederick G. Thiel sold 27,505 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $15.28, for a total transaction of $420,276.40. Following the sale, the chief executive officer owned 3,810,799 shares in the company, valued at $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 available at the SEC website. Also, CFO Salman Hassan Khan sold 34,732 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $15.73, for a total value of $546,334.36. Following the sale, the chief financial officer owned 353,160 shares in the company, valued at approximately $5,555,206.80. The trade was a 8.95% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 189,712 shares of company stock worth $3,186,128. 0.80% of the stock is owned by corporate insiders.

Marathon Digital Company Profile

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.

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