Emerald Advisers LLC Buys New Stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Emerald Advisers LLC bought a new position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 326,707 shares of the business services provider's stock, valued at approximately $3,757,000. Emerald Advisers LLC owned 0.09% of Marathon Digital as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. US Bancorp DE grew its position in Marathon Digital by 73.3% in the fourth quarter. US Bancorp DE now owns 3,559 shares of the business services provider's stock valued at $60,000 after acquiring an additional 1,505 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Marathon Digital by 16.5% in the fourth quarter. Victory Capital Management Inc. now owns 67,654 shares of the business services provider's stock valued at $1,135,000 after purchasing an additional 9,562 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Marathon Digital in the fourth quarter valued at $1,408,000. PNC Financial Services Group Inc. grew its holdings in Marathon Digital by 62.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 15,561 shares of the business services provider's stock valued at $261,000 after purchasing an additional 5,962 shares in the last quarter. Finally, Amundi increased its stake in Marathon Digital by 4.8% during the 4th quarter. Amundi now owns 210,979 shares of the business services provider's stock worth $3,869,000 after buying an additional 9,749 shares during the period. 44.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Marathon Digital

In related news, CFO Salman Hassan Khan sold 34,733 shares of the stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $15.85, for a total value of $550,518.05. Following the sale, the chief financial officer owned 1,413,298 shares of the company's stock, valued at $22,400,773.30. This trade represents a 2.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frederick G. Thiel sold 55,010 shares of Marathon Digital stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $15.00, for a total transaction of $825,150.00. Following the completion of the sale, the chief executive officer owned 4,146,804 shares in the company, valued at approximately $62,202,060. This represents a 1.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 199,853 shares of company stock worth $3,072,049 in the last 90 days. 0.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MARA. HC Wainwright reissued a "buy" rating and issued a $28.00 price objective on shares of Marathon Digital in a research report on Thursday, April 24th. Piper Sandler lowered their price objective on Marathon Digital from $30.00 to $23.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Barclays lifted their price objective on Marathon Digital from $14.00 to $16.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. JPMorgan Chase & Co. raised their price target on shares of Marathon Digital from $18.00 to $19.00 and gave the stock a "neutral" rating in a research report on Friday, June 13th. Finally, Rosenblatt Securities upped their price target on shares of Marathon Digital from $17.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $20.94.

Marathon Digital Stock Performance

Marathon Digital stock traded up $0.07 during mid-day trading on Monday, reaching $19.21. The company's stock had a trading volume of 86,662,618 shares, compared to its average volume of 41,988,582. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.62. Marathon Digital Holdings, Inc. has a twelve month low of $9.81 and a twelve month high of $30.28. The business has a 50 day moving average price of $15.65 and a 200-day moving average price of $15.32. The firm has a market cap of $6.76 billion, a price-to-earnings ratio of -13.25 and a beta of 6.53.

Marathon Digital (NASDAQ:MARA - Get Free Report) last issued its earnings results on Thursday, May 8th. The business services provider reported ($0.40) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.06). The business had revenue of $213.88 million during the quarter, compared to the consensus estimate of $234.19 million. Marathon Digital had a positive return on equity of 6.33% and a negative net margin of 46.68%. The business's revenue was up 29.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.26 EPS. Sell-side analysts predict 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.