Cetera Investment Advisers Sells 122,427 Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Key Points

• Cetera Investment Advisers reduced its holdings in Marathon Digital Holdings by 50.1%, selling 122,427 shares and bringing its total ownership down to 122,023 shares valued at approximately $1.4 million.
• In the last quarter, several institutional investors, including Park Square Financial Group and Sterling Capital Management, made significant investments and changes to their positions in Marathon Digital.
• Marathon Digital reported impressive earnings with $1.84 EPS, exceeding analysts' expectations, and a substantial year-over-year revenue increase of 64%.

Cetera Investment Advisers lowered its position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 50.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 122,023 shares of the business services provider's stock after selling 122,427 shares during the period. Cetera Investment Advisers' holdings in Marathon Digital were worth $1,403,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in MARA. Park Square Financial Group LLC bought a new position in shares of Marathon Digital during the fourth quarter worth approximately $27,000. Sterling Capital Management LLC increased its stake in shares of Marathon Digital by 358.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider's stock worth $31,000 after purchasing an additional 1,426 shares during the period. CX Institutional bought a new position in shares of Marathon Digital during the first quarter worth approximately $68,000. NewEdge Advisors LLC increased its stake in shares of Marathon Digital by 28.9% during the fourth quarter. NewEdge Advisors LLC now owns 4,640 shares of the business services provider's stock worth $78,000 after purchasing an additional 1,040 shares during the period. Finally, Archer Investment Corp increased its stake in shares of Marathon Digital by 6,800.0% during the first quarter. Archer Investment Corp now owns 6,900 shares of the business services provider's stock worth $79,000 after purchasing an additional 6,800 shares during the period. Institutional investors own 44.53% of the company's stock.

Marathon Digital Trading Down 3.6%

Shares of MARA stock opened at $15.38 on Monday. The stock's fifty day moving average price is $16.55 and its two-hundred day moving average price is $15.17. The company has a market cap of $5.70 billion, a PE ratio of 13.86 and a beta of 6.24. Marathon Digital Holdings, Inc. has a fifty-two week low of $9.81 and a fifty-two 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 earnings results on Tuesday, July 29th. The business services provider reported $1.84 earnings per share for the quarter, beating analysts' consensus estimates of ($0.29) by $2.13. The firm had revenue of $238.50 million for the quarter, compared to the consensus estimate of $212.25 million. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%. The company's revenue was up 64.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.72) EPS. Equities analysts predict that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Salman Hassan Khan sold 34,732 shares of the firm's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $19.05, for a total transaction of $661,644.60. Following the sale, the chief financial officer owned 324,572 shares of the company's stock, valued at $6,183,096.60. This trade represents a 9.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the firm's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $19.52, for a total value of $536,897.60. Following the sale, the chief executive officer directly owned 3,946,504 shares in the company, valued at approximately $77,035,758.08. This trade represents a 0.69% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 171,680 shares of company stock worth $2,912,651. Company insiders own 0.80% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. HC Wainwright reissued a "buy" rating and set a $28.00 price target on shares of Marathon Digital in a research report on Thursday, April 24th. Piper Sandler increased their price target on Marathon Digital from $23.00 to $26.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. JPMorgan Chase & Co. raised Marathon Digital from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $19.00 to $22.00 in a research report on Monday, July 28th. Cantor Fitzgerald increased their price target on Marathon Digital from $34.00 to $39.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Finally, Barclays increased their price target on Marathon Digital from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, Marathon Digital currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.22.

Marathon Digital 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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