Kingstone Capital Partners Texas LLC Purchases Shares of 13,800 Marathon Digital Holdings, Inc. $MARA

Key Points

• Kingstone Capital Partners Texas LLC acquired a new position in Marathon Digital Holdings, purchasing 13,800 shares valued at approximately $225,000 in the second quarter.
• Insider trading activities were noted, with CEO Frederick G. Thiel selling 27,505 shares for about $478,036, which decreased his position by 0.73%.
• Analysts have recently increased their price targets for Marathon Digital, with Cantor Fitzgerald raising their target from $34.00 to $39.00 and JPMorgan upgrading their rating to "overweight".

Kingstone Capital Partners Texas LLC bought a new stake in Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 13,800 shares of the business services provider's stock, valued at approximately $225,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. American Century Companies Inc. increased its holdings in Marathon Digital by 55.7% in the 1st quarter. American Century Companies Inc. now owns 6,289,953 shares of the business services provider's stock valued at $72,334,000 after buying an additional 2,250,082 shares during the period. Westfield Capital Management Co. LP acquired a new position in Marathon Digital in the first quarter worth about $14,810,000. Vanguard Group Inc. lifted its stake in Marathon Digital by 2.7% during the first quarter. Vanguard Group Inc. now owns 39,811,453 shares of the business services provider's stock worth $457,832,000 after purchasing an additional 1,028,512 shares during the period. Nuveen LLC bought a new position in Marathon Digital during the first quarter worth about $11,514,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Marathon Digital in the 4th quarter valued at approximately $13,416,000. 44.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. Macquarie boosted their price target on Marathon Digital from $19.00 to $26.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Compass Point assumed coverage on shares of Marathon Digital in a research note on Monday, September 15th. They issued a "neutral" rating and a $18.00 target price on the stock. 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 research report on Monday, July 21st. JPMorgan Chase & Co. upgraded shares of Marathon Digital from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $19.00 to $22.00 in a research report on Monday, July 28th. Finally, Cantor Fitzgerald increased their price target on Marathon Digital from $34.00 to $39.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Seven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $24.50.

Insider Buying and Selling at Marathon Digital

In other Marathon Digital news, Director Vicki Mealer-Burke sold 14,887 shares of the business's stock in a transaction 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 owned 58,103 shares of the company's stock, valued at $884,327.66. The trade was a 20.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Salman Hassan Khan sold 34,732 shares of the company's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $16.24, for a total transaction of $564,047.68. Following the completion of the transaction, the chief financial officer owned 318,428 shares of the company's stock, valued at $5,171,270.72. This trade represents a 9.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 204,598 shares of company stock valued at $3,483,548. 0.80% of the stock is currently owned by insiders.

Marathon Digital Trading Up 0.3%

NASDAQ MARA traded up $0.06 during trading on Monday, reaching $18.35. 84,740,442 shares of the stock traded hands, compared to its average volume of 61,973,300. 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 quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.47. The firm has a market cap of $6.80 billion, a price-to-earnings ratio of 16.53 and a beta of 6.36. The stock's 50-day moving average price is $16.58 and its 200 day moving average price is $15.16.

Marathon Digital (NASDAQ:MARA - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.84 EPS for the quarter, beating analysts' consensus estimates of ($0.29) by $2.13. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. The firm had revenue of $238.50 million during the quarter, compared to analysts' expectations of $212.25 million. During the same quarter last year, the company posted ($0.72) earnings per share. The company's revenue for the quarter was up 64.0% compared to the same quarter last year. Analysts predict that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

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.