Exchange Traded Concepts LLC Grows 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 Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 7.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,173,211 shares of the business services provider's stock after buying an additional 83,649 shares during the period. Exchange Traded Concepts LLC owned approximately 0.33% of Marathon Digital worth $18,396,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Fiduciary Alliance LLC increased its holdings in shares of Marathon Digital by 26.9% in the second quarter. Fiduciary Alliance LLC now owns 72,735 shares of the business services provider's stock worth $1,140,000 after buying an additional 15,426 shares during the period. Strategic Advocates LLC increased its holdings in shares of Marathon Digital by 7.8% in the second quarter. Strategic Advocates LLC now owns 16,025 shares of the business services provider's stock worth $251,000 after buying an additional 1,163 shares during the period. Rhumbline Advisers increased its holdings in shares of Marathon Digital by 10.0% in the first quarter. Rhumbline Advisers now owns 917,299 shares of the business services provider's stock worth $10,549,000 after buying an additional 83,242 shares during the period. Strs Ohio purchased a new position in shares of Marathon Digital in the first quarter worth about $363,000. Finally, Intech Investment Management LLC increased its holdings in shares of Marathon Digital by 14.5% in the first quarter. Intech Investment Management LLC now owns 160,717 shares of the business services provider's stock worth $1,848,000 after buying an additional 20,413 shares during the period. Hedge funds and other institutional investors own 44.53% of the company's stock.

Wall Street Analyst Weigh In

MARA has been the subject of a number of analyst reports. Compass Point initiated coverage on shares of Marathon Digital in a report on Monday. They set a "neutral" rating and a $18.00 target price for the company. Cantor Fitzgerald increased their target price on shares of Marathon Digital from $34.00 to $39.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Rosenblatt Securities reiterated a "buy" rating and set a $20.00 target price on shares of Marathon Digital in a report on Wednesday, July 30th. JPMorgan Chase & Co. upgraded shares of Marathon Digital from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $19.00 to $22.00 in a report on Monday, July 28th. Finally, Piper Sandler increased their target price on shares of Marathon Digital from $23.00 to $26.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.50.

Marathon Digital Price Performance

Shares of NASDAQ MARA opened at $17.34 on Thursday. 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 50 day simple moving average of $16.62 and a two-hundred day simple moving average of $15.09. The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of 15.62 and a beta of 6.35. 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 announced 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 business had revenue of $238.50 million during the quarter, compared to the consensus estimate of $212.25 million. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. The business's revenue for the quarter was up 64.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.72) earnings per share. Analysts expect that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Insider Activity at Marathon Digital

In related news, CEO Frederick G. Thiel sold 27,505 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $15.28, for a total transaction of $420,276.40. Following the completion of the sale, the chief executive officer owned 3,810,799 shares of the company's stock, valued at $58,229,008.72. This trade represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vicki Mealer-Burke sold 14,887 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $15.22, for a total transaction of $226,580.14. Following the sale, the director directly owned 58,103 shares of the company's stock, valued at $884,327.66. This trade represents a 20.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold 177,093 shares of company stock valued at $3,005,511 over the last 90 days. Corporate insiders own 0.80% of the company's stock.

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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