Exchange Traded Concepts LLC Has $18.40 Million Stock Position in Marathon Digital Holdings, Inc. $MARA

Key Points

• Exchange Traded Concepts LLC has increased its stake in Marathon Digital Holdings, Inc. by 7.7%, owning approximately 1,173,211 shares valued at $18.4 million.
• Marathon Digital reported earnings of $1.84 per share, significantly exceeding analysts' expectations, alongside a revenue increase of 64% year-over-year.
• Analysts have varied target price ratings for Marathon Digital, with recent updates suggesting targets ranging from $18.00 to $39.00 and an overall consensus rating of "Moderate Buy".

Exchange Traded Concepts LLC lifted its stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 7.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,173,211 shares of the business services provider's stock after acquiring an additional 83,649 shares during the period. Exchange Traded Concepts LLC owned 0.33% of Marathon Digital worth $18,396,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Ranch Capital Advisors Inc. raised its holdings in shares of Marathon Digital by 5.8% during the 1st quarter. Ranch Capital Advisors Inc. now owns 14,632 shares of the business services provider's stock valued at $168,000 after buying an additional 805 shares during the period. Mackenzie Financial Corp grew its stake in Marathon Digital by 5.1% during the 4th quarter. Mackenzie Financial Corp now owns 18,125 shares of the business services provider's stock valued at $304,000 after purchasing an additional 878 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in Marathon Digital by 9.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider's stock valued at $127,000 after purchasing an additional 991 shares in the last quarter. Strategic Advocates LLC grew its stake in Marathon Digital by 7.8% during the 2nd quarter. Strategic Advocates LLC now owns 16,025 shares of the business services provider's stock valued at $251,000 after purchasing an additional 1,163 shares in the last quarter. Finally, United Services Automobile Association grew its stake in Marathon Digital by 8.2% during the 1st quarter. United Services Automobile Association now owns 20,634 shares of the business services provider's stock valued at $257,000 after purchasing an additional 1,569 shares in the last quarter. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Vicki Mealer-Burke sold 14,887 shares of Marathon Digital stock in a transaction on Monday, September 8th. The stock was sold at an average price of $15.22, for a total value of $226,580.14. Following the transaction, the director directly owned 58,103 shares in the company, valued at $884,327.66. The trade was a 20.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction on Monday, August 18th. The stock was sold at an average price of $15.28, for a total value of $420,276.40. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 204,598 shares of company stock worth $3,483,548 in the last three months. 0.80% of the stock is currently owned by insiders.

Marathon Digital Stock Performance

Marathon Digital stock traded down $0.21 during mid-day trading on Friday, hitting $18.29. 62,723,905 shares of the company's stock traded hands, compared to its average volume of 62,780,952. Marathon Digital Holdings, Inc. has a one year low of $9.81 and a one year high of $30.28. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average price of $16.60 and a 200 day moving average price of $15.15. The company has a market cap of $6.78 billion, a PE ratio of 16.48 and a beta of 6.35.

Marathon Digital (NASDAQ:MARA - Get Free Report) last posted its quarterly earnings data 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. 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 the consensus estimate of $212.25 million. During the same quarter in the previous year, the business earned ($0.72) EPS. The company's quarterly revenue was up 64.0% compared to the same quarter last year. On average, equities analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Wall Street Analyst Weigh In

MARA has been the subject of a number of recent analyst reports. Compass Point initiated coverage on Marathon Digital in a research note on Monday, September 15th. They set a "neutral" rating and a $18.00 price objective for the company. Cantor Fitzgerald lifted their target price on Marathon Digital from $34.00 to $39.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. BTIG Research reiterated a "buy" rating and issued a $27.00 target price on shares of Marathon Digital in a research report on Friday, September 5th. Rosenblatt Securities reiterated a "buy" rating and issued a $20.00 target price on shares of Marathon Digital in a research report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. upgraded Marathon Digital from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $19.00 to $22.00 in a research report on Monday, July 28th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $24.50.

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.