Invesco Ltd. Lowers Position in Marathon Digital Holdings, Inc. $MARA

Invesco Ltd. lessened its stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 16.8% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 3,028,231 shares of the business services provider's stock after selling 612,022 shares during the period. Invesco Ltd. owned 0.86% of Marathon Digital worth $34,825,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MARA. Swiss National Bank lifted its position in shares of Marathon Digital by 13.5% during the 1st quarter. Swiss National Bank now owns 657,500 shares of the business services provider's stock valued at $7,561,000 after buying an additional 78,300 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Marathon Digital by 17.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 12,558 shares of the business services provider's stock valued at $144,000 after purchasing an additional 1,894 shares in the last quarter. Deutsche Bank AG grew its position in shares of Marathon Digital by 14.3% during the first quarter. Deutsche Bank AG now owns 1,120,035 shares of the business services provider's stock valued at $12,880,000 after purchasing an additional 140,273 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Marathon Digital by 9.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,322,618 shares of the business services provider's stock worth $38,210,000 after purchasing an additional 294,161 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Marathon Digital by 2.7% in the first quarter. Vanguard Group Inc. now owns 39,811,453 shares of the business services provider's stock worth $457,832,000 after buying an additional 1,028,512 shares in the last quarter. Hedge funds and other institutional investors own 44.53% of the company's stock.

Marathon Digital Trading Up 2.7%

Shares of MARA opened at $16.09 on Tuesday. The company's fifty day simple moving average is $16.60 and its 200-day simple moving average is $15.05. The company has a market cap of $5.96 billion, a P/E ratio of 14.50 and a beta of 6.24. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.47. Marathon Digital Holdings, Inc. has a twelve month low of $9.81 and a twelve month high of $30.28.

Marathon Digital (NASDAQ:MARA - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.84 EPS for the quarter, beating the consensus estimate of ($0.29) by $2.13. The company had revenue of $238.50 million for 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 firm's revenue was up 64.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.72) EPS. As a group, analysts expect that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Analysts Set New Price Targets

MARA has been the subject of several research analyst reports. Rosenblatt Securities restated a "buy" rating and set a $20.00 price target on shares of Marathon Digital in a report on Wednesday, July 30th. HC Wainwright reissued a "buy" rating and issued a $28.00 target price on shares of Marathon Digital in a report on Thursday, April 24th. Compass Point upgraded shares of Marathon Digital from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $9.50 to $18.00 in a research report on Friday, July 25th. Barclays upped their price target on shares of Marathon Digital from $14.00 to $16.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Finally, Cantor Fitzgerald boosted 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. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Marathon Digital presently has a consensus rating of "Moderate Buy" and an average target price of $24.22.

Insider Buying and Selling

In other Marathon Digital news, CEO Frederick G. Thiel sold 27,505 shares of the company's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $19.52, for a total value of $536,897.60. Following the transaction, the chief executive officer owned 3,946,504 shares of the company's stock, valued at $77,035,758.08. This represents a 0.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Salman Hassan Khan sold 34,733 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $15.85, for a total value of $550,518.05. Following the completion of the sale, the chief financial officer owned 1,413,298 shares in the company, valued at approximately $22,400,773.30. The trade was a 2.40% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 127,475 shares of company stock worth $2,219,517. Insiders own 0.80% of the company's stock.

Marathon Digital Company 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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