Fifth Third Bancorp Buys 93,086 Shares of Marathon Digital Holdings, Inc. $MARA

Key Points

• Fifth Third Bancorp increased its Marathon Digital stake by 9,020% in the first quarter, purchasing 93,086 additional shares for a total of 94,118 shares valued at approximately $768,000. Institutional investors collectively own 44.53% of MARA.
• Analysts maintain a generally positive outlook, with eight Buy, two Hold, and two Sell ratings producing a consensus “Moderate Buy” rating and an average price target of $18.50.
• MARA shares opened at $11.77, down 2.9%, while company insiders sold 109,260 shares worth approximately $1.45 million during the last quarter, including sales by the CEO and general counsel under pre-arranged trading plans.

Fifth Third Bancorp boosted its stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 9,020.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,118 shares of the business services provider's stock after buying an additional 93,086 shares during the period. Fifth Third Bancorp's holdings in Marathon Digital were worth $768,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Integrated Wealth Concepts LLC boosted its holdings in Marathon Digital by 9.8% in the first quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider's stock worth $127,000 after acquiring an additional 991 shares in the last quarter. Evexia Wealth LLC increased its holdings in shares of Marathon Digital by 9.2% during the first quarter. Evexia Wealth LLC now owns 12,937 shares of the business services provider's stock valued at $106,000 after acquiring an additional 1,090 shares in the last quarter. Sigma Planning Corp raised its position in shares of Marathon Digital by 12.4% in the 4th quarter. Sigma Planning Corp now owns 11,924 shares of the business services provider's stock worth $107,000 after purchasing an additional 1,320 shares during the last quarter. Osaic Holdings Inc. boosted its stake in Marathon Digital by 38.6% in the 2nd quarter. Osaic Holdings Inc. now owns 4,816 shares of the business services provider's stock worth $76,000 after purchasing an additional 1,340 shares in the last quarter. Finally, United Services Automobile Association grew its position 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 during the last quarter. Hedge funds and other institutional investors own 44.53% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on MARA shares. Weiss Ratings lowered shares of Marathon Digital from a "sell (d)" rating to a "sell (d-)" rating in a research note on Tuesday, May 12th. Cantor Fitzgerald reduced their price target on shares of Marathon Digital from $11.00 to $10.00 and set an "overweight" rating for the company in a research report on Thursday, April 9th. Piper Sandler decreased their price objective on shares of Marathon Digital from $16.00 to $13.00 and set an "overweight" rating for the company in a report on Friday, July 17th. BTIG Research reiterated a "buy" rating and set a $27.00 target price on shares of Marathon Digital in a research note on Monday, June 1st. Finally, Rosenblatt Securities boosted their price target on Marathon Digital from $11.00 to $15.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $18.50.

Marathon Digital Stock Down 2.9%

Shares of Marathon Digital stock opened at $11.77 on Tuesday. The company has a market cap of $4.49 billion, a price-to-earnings ratio of -2.06 and a beta of 5.36. The company's 50 day moving average is $13.29 and its 200 day moving average is $11.00. Marathon Digital Holdings, Inc. has a twelve month low of $6.66 and a twelve month high of $23.45. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.99.

Insider Activity at Marathon Digital

In other Marathon Digital news, CEO Frederick G. Thiel sold 27,505 shares of the business's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $14.25, for a total transaction of $391,946.25. Following the completion of the sale, the chief executive officer directly owned 4,562,009 shares in the company, valued at approximately $65,008,628.25. The trade was a 0.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Zabi Nowaid sold 7,000 shares of the firm's stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $14.25, for a total value of $99,750.00. Following the completion of the transaction, the general counsel owned 963,768 shares in the company, valued at approximately $13,733,694. This trade represents a 0.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 109,260 shares of company stock valued at $1,452,756 in the last quarter. 0.97% of the stock is currently owned by corporate insiders.

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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