Exchange Traded Concepts LLC Sells 128,162 Shares of Marathon Digital Holdings, Inc. $MARA

Key Points

• Exchange Traded Concepts sold 128,162 shares, trimming its stake in Marathon Digital by 10.9 to 1,045,049 shares (about $19.08M); institutional investors now own roughly 44.53% of the company.
• Marathon reported an earnings miss for the quarter (EPS -$0.32 vs. -$0.26 expected) with revenue of $252.4M vs. $254.6M consensus; the stock trades at a $3.85B market cap, PE 5.66 and a high beta of 5.42.
• Insiders have been selling (218,711 shares in the last three months, including sales by the CEO and general counsel), while analysts maintain a consensus "Moderate Buy" rating with an average price target of $23.56.

Exchange Traded Concepts LLC trimmed its position in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 10.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,045,049 shares of the business services provider's stock after selling 128,162 shares during the period. Exchange Traded Concepts LLC owned approximately 0.28% of Marathon Digital worth $19,083,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of MARA. Fifth Third Bancorp raised its stake in shares of Marathon Digital by 59.9% in the second quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider's stock valued at $29,000 after purchasing an additional 683 shares in the last quarter. Estabrook Capital Management acquired a new stake in Marathon Digital during the second quarter worth $31,000. IFP Advisors Inc increased its holdings in Marathon Digital by 375.4% in the 2nd quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider's stock valued at $40,000 after buying an additional 2,001 shares during the period. Osaic Holdings Inc. raised its stake in shares of Marathon Digital by 38.6% in the 2nd quarter. Osaic Holdings Inc. now owns 4,816 shares of the business services provider's stock valued at $76,000 after buying an additional 1,340 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of Marathon Digital by 303.6% in the 2nd quarter. Smartleaf Asset Management LLC now owns 5,013 shares of the business services provider's stock valued at $75,000 after buying an additional 3,771 shares in the last quarter. Institutional investors and hedge funds own 44.53% of the company's stock.

Marathon Digital Price Performance

NASDAQ:MARA opened at $10.18 on Monday. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.63. The firm has a market cap of $3.85 billion, a PE ratio of 5.66 and a beta of 5.42. Marathon Digital Holdings, Inc. has a 12 month low of $9.61 and a 12 month high of $23.45. The company's 50-day moving average price is $14.64 and its two-hundred day moving average price is $16.02.

Marathon Digital (NASDAQ:MARA - Get Free Report) last posted its earnings results on Tuesday, November 4th. The business services provider reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.06). The firm had revenue of $252.41 million during the quarter, compared to the consensus estimate of $254.58 million. Marathon Digital had a net margin of 100.82% and a negative return on equity of 2.59%. On average, equities analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MARA has been the topic of several recent research reports. Weiss Ratings reiterated a "hold (c-)" rating on shares of Marathon Digital in a research report on Monday, December 15th. JPMorgan Chase & Co. cut their price target on shares of Marathon Digital from $20.00 to $13.00 and set an "overweight" rating for the company in a research note on Monday, November 24th. Compass Point raised Marathon Digital from a "neutral" rating to a "buy" rating and set a $30.00 price objective on the stock in a report on Monday, November 24th. Guggenheim initiated coverage on Marathon Digital in a report on Tuesday, October 21st. They issued a "neutral" rating for the company. Finally, Cantor Fitzgerald cut their target price on Marathon Digital from $30.00 to $21.00 and set an "overweight" rating for the company in a research report on Wednesday, November 5th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $23.56.

Insider Activity at Marathon Digital

In other Marathon Digital news, General Counsel Zabi Nowaid sold 25,113 shares of Marathon Digital stock in a transaction on Monday, November 10th. The stock was sold at an average price of $15.87, for a total value of $398,543.31. Following the completion of the transaction, the general counsel owned 723,136 shares in the company, valued at approximately $11,476,168.32. The trade was a 3.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the business's stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $10.77, for a total value of $296,228.85. Following the completion of the transaction, the chief executive officer directly owned 3,555,489 shares in the company, valued at approximately $38,292,616.53. This represents a 0.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 218,711 shares of company stock valued at $3,286,669 in the last three months. Corporate insiders own 0.80% of the company's stock.

About Marathon Digital

Marathon Digital Holdings, Inc is a digital asset technology company specializing in the mining and acquisition of bitcoin. Headquartered in Las Vegas, Nevada, the firm employs high-performance application-specific integrated circuit (ASIC) miners and proprietary software to secure the Bitcoin network and expand its crypto-mining footprint. Marathon Digital focuses on operational efficiency and scalability, while maintaining rigorous standards for regulatory compliance and corporate governance.

The company operates multiple large-scale mining facilities throughout North America, including sites in Texas, Montana and New York.

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