Centric Wealth Management Sells 60,100 Shares of Marathon Digital Holdings, Inc. $MARA

Key Points

• Centric Wealth Management reduced its stake in Marathon Digital Holdings by 46.2%, holding a total of 70,001 shares valued at approximately $805,000 after selling 60,100 shares in the first quarter.
• Equities research analysts have raised their price targets for Marathon Digital, with Macquarie setting a target of $26 and Cantor Fitzgerald increasing theirs to $39, contributing to a consensus rating of "Moderate Buy."
• Marathon Digital reported earnings per share of $1.84 for the most recent quarter, significantly beating estimates and showing a year-over-year revenue increase of 64.0%, reaching $238.50 million.

Centric Wealth Management reduced its stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 46.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,001 shares of the business services provider's stock after selling 60,100 shares during the period. Centric Wealth Management's holdings in Marathon Digital were worth $805,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Janney Montgomery Scott LLC raised its holdings in shares of Marathon Digital by 307.7% during the first 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 during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Marathon Digital by 1,521.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,823 shares of the business services provider's stock valued at $147,000 after purchasing an additional 12,032 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Marathon Digital by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 207,839 shares of the business services provider's stock valued at $3,485,000 after purchasing an additional 3,998 shares during the last quarter. Stifel Financial Corp increased its position in shares of Marathon Digital by 59.3% in the fourth quarter. Stifel Financial Corp now owns 41,497 shares of the business services provider's stock worth $696,000 after acquiring an additional 15,447 shares in the last quarter. Finally, Yousif Capital Management LLC grew its position in Marathon Digital by 3.5% during 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. 44.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Marathon Digital news, CFO Salman Hassan Khan sold 34,732 shares of Marathon Digital 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 sale, the chief financial officer directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value 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. The trade was a 0.72% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 189,712 shares of company stock worth $3,186,128. 0.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MARA. Rosenblatt Securities reiterated a "buy" rating and issued a $20.00 target price on shares of Marathon Digital in a report on Wednesday, July 30th. Cantor Fitzgerald boosted their price objective on shares of Marathon Digital from $34.00 to $39.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. JPMorgan Chase & Co. upgraded Marathon Digital from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $19.00 to $22.00 in a report on Monday, July 28th. Piper Sandler boosted their target price on shares of Marathon Digital from $23.00 to $26.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Finally, Compass Point upgraded shares of Marathon Digital from a "sell" rating to a "neutral" rating and lifted their target price for the company from $9.50 to $18.00 in a research report on Friday, July 25th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $24.22.

Marathon Digital Trading Up 0.1%

Shares of Marathon Digital stock traded up $0.02 during trading on Monday, hitting $15.98. 66,767,967 shares of the company were exchanged, compared to its average volume of 43,002,644. Marathon Digital Holdings, Inc. has a 1-year low of $9.81 and a 1-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 firm has a market capitalization of $5.92 billion, a P/E ratio of 14.40 and a beta of 6.36. The firm's fifty day moving average price is $16.69 and its 200 day moving average price is $14.97.

Marathon Digital (NASDAQ:MARA - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.84 EPS 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%.Marathon Digital's revenue was up 64.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.72) earnings per share. As a group, sell-side analysts expect that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

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.