29,269 Shares in Marathon Digital Holdings, Inc. $MARA Acquired by Journey Strategic Wealth LLC

Key Points

• Journey Strategic Wealth LLC acquired 29,269 shares of Marathon Digital (≈$459,000) in Q2 per its 13F filing, while total institutional ownership stands at about 44.53% and several other funds also increased positions.
• Marathon Digital missed quarterly estimates (EPS -$0.32 vs. -$0.26 expected; revenue $252.4M vs. $254.6M expected), though analysts maintain a consensus of "Moderate Buy" with an average target price of $23.00.
• Significant insider activity: the CEO and general counsel recently sold shares and insiders sold a total of 234,598 shares (~$3.88M) over the last quarter, with corporate insiders now owning about 0.80% of the stock.

Journey Strategic Wealth LLC acquired a new stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 29,269 shares of the business services provider's stock, valued at approximately $459,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fifth Third Bancorp increased its stake in shares of Marathon Digital by 59.9% in the 2nd quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider's stock valued at $29,000 after purchasing an additional 683 shares during the last quarter. IFP Advisors Inc boosted its stake in Marathon Digital by 375.4% in the second quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider's stock valued at $40,000 after buying an additional 2,001 shares in the last quarter. Allworth Financial LP grew its position in Marathon Digital by 555.0% in the second quarter. Allworth Financial LP now owns 5,417 shares of the business services provider's stock valued at $85,000 after acquiring an additional 4,590 shares during the last quarter. NewEdge Advisors LLC grew its position in Marathon Digital by 65.3% in the first quarter. NewEdge Advisors LLC now owns 7,672 shares of the business services provider's stock valued at $88,000 after acquiring an additional 3,032 shares during the last quarter. Finally, CX Institutional raised its stake in Marathon Digital by 12.6% during the second quarter. CX Institutional now owns 6,698 shares of the business services provider's stock worth $105,000 after acquiring an additional 749 shares in the last quarter. 44.53% of the stock is currently owned by institutional investors.

Marathon Digital Trading Down 1.7%

Shares of NASDAQ MARA opened at $10.07 on Friday. The firm has a 50 day moving average price of $17.43 and a two-hundred day moving average price of $16.57. The stock has a market cap of $3.81 billion, a P/E ratio of 9.07 and a beta of 6.40. Marathon Digital Holdings, Inc. has a 52-week low of $9.71 and a 52-week high of $30.28. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 0.54.

Marathon Digital (NASDAQ:MARA - Get Free Report) last issued its quarterly earnings data on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.06). The business had revenue of $252.41 million during the quarter, compared to the consensus estimate of $254.58 million. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%. As a group, equities analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Insider Buying and Selling

In other news, General Counsel Zabi Nowaid sold 25,113 shares of the stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $15.87, for a total value of $398,543.31. Following the completion of the sale, the general counsel owned 723,136 shares of the company's stock, valued at approximately $11,476,168.32. This represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $11.99, for a total value of $329,784.95. Following the completion of the transaction, the chief executive officer directly owned 3,582,994 shares in the company, valued at approximately $42,960,098.06. This represents a 0.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 234,598 shares of company stock worth $3,876,481. Corporate insiders own 0.80% of the company's stock.

Analyst Ratings Changes

MARA has been the topic of several research reports. BTIG Research reaffirmed a "buy" rating and set a $27.00 price target on shares of Marathon Digital in a report on Friday, September 5th. Rosenblatt Securities cut their target price on shares of Marathon Digital from $25.00 to $22.00 and set a "buy" rating on the stock in a research report on Wednesday, November 5th. Guggenheim began coverage on shares of Marathon Digital in a report on Tuesday, October 21st. They set a "neutral" rating for the company. Cantor Fitzgerald dropped their price target on Marathon Digital from $30.00 to $21.00 and set an "overweight" rating for the company in a research note on Wednesday, November 5th. Finally, Macquarie boosted their price objective on Marathon Digital from $26.00 to $29.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 22nd. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Marathon Digital currently has an average rating of "Moderate Buy" and an average target price of $23.00.

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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