Fiduciary Alliance LLC Buys 15,426 Shares of Marathon Digital Holdings, Inc. $MARA

Key Points

• Fiduciary Alliance LLC increased its stake in Marathon Digital Holdings, acquiring an additional 15,426 shares, bringing its total to 72,735 shares worth approximately $1.14 million.
• Multiple hedge funds have invested in Marathon Digital, with notable stakes increasing by 6,800% and 65.3% by different firms, highlighting a growing interest from institutional investors.
• Wall Street analysts have set an average price target of $24.50 for Marathon Digital, with most analysts rating the stock as a Moderate Buy.

Fiduciary Alliance LLC grew its stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 26.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,735 shares of the business services provider's stock after acquiring an additional 15,426 shares during the period. Fiduciary Alliance LLC's holdings in Marathon Digital were worth $1,140,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Park Square Financial Group LLC bought a new position in Marathon Digital in the 4th quarter worth about $27,000. CX Institutional bought a new position in Marathon Digital in the 1st quarter worth about $68,000. Archer Investment Corp grew its stake in Marathon Digital by 6,800.0% in the 1st quarter. Archer Investment Corp now owns 6,900 shares of the business services provider's stock worth $79,000 after acquiring an additional 6,800 shares in the last quarter. NewEdge Advisors LLC grew its stake in Marathon Digital by 65.3% in the 1st quarter. NewEdge Advisors LLC now owns 7,672 shares of the business services provider's stock worth $88,000 after acquiring an additional 3,032 shares in the last quarter. Finally, Mirador Capital Partners LP purchased a new stake in shares of Marathon Digital in the 1st quarter worth approximately $117,000. 44.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MARA has been the subject of several research reports. Cantor Fitzgerald upped their price target on shares of Marathon Digital from $34.00 to $39.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $20.00 price target on shares of Marathon Digital in a research report on Wednesday, July 30th. JPMorgan Chase & Co. raised shares of Marathon Digital from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $19.00 to $22.00 in a research report on Monday, July 28th. Piper Sandler upped their price target on shares of Marathon Digital from $23.00 to $26.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Finally, BTIG Research reaffirmed a "buy" rating and issued a $27.00 price target on shares of Marathon Digital in a research report on Friday, September 5th. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $24.50.

Marathon Digital Stock Up 7.9%

NASDAQ:MARA opened at $17.53 on Wednesday. The firm has a market capitalization of $6.49 billion, a P/E ratio of 15.79 and a beta of 6.35. Marathon Digital Holdings, Inc. has a 1-year low of $9.81 and a 1-year high of $30.28. The company's fifty day moving average price is $16.64 and its 200-day moving average price is $15.07. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.54 and a quick ratio of 0.54.

Marathon Digital (NASDAQ:MARA - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.84 earnings per share for the quarter, topping analysts' consensus estimates of ($0.29) by $2.13. The firm had revenue of $238.50 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 64.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.72) earnings per share. As a group, equities research analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current 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 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 sale, the chief executive officer owned 3,810,799 shares in the company, valued at approximately $58,229,008.72. This trade represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Salman Hassan Khan sold 34,732 shares of the firm's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $15.73, for a total transaction of $546,334.36. Following the sale, the chief financial officer owned 353,160 shares in the company, valued at approximately $5,555,206.80. This represents a 8.95% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 142,361 shares of company stock worth $2,441,463. 0.80% of the stock is owned by company insiders.

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.

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