Exchange Traded Concepts LLC Acquires 190,558 Shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Exchange Traded Concepts LLC increased its holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 21.2% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,089,562 shares of the business services provider's stock after purchasing an additional 190,558 shares during the period. Exchange Traded Concepts LLC owned approximately 0.32% of Marathon Digital worth $12,530,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MARA. Beacon Capital Management LLC purchased a new stake in Marathon Digital during the 4th quarter valued at $26,000. Park Square Financial Group LLC bought a new position in Marathon Digital during the 4th quarter valued at approximately $27,000. Sterling Capital Management LLC lifted its holdings in Marathon Digital by 358.3% in the 4th quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider's stock worth $31,000 after buying an additional 1,426 shares during the period. Brown Brothers Harriman & Co. bought a new stake in shares of Marathon Digital in the 4th quarter worth approximately $50,000. Finally, Blue Trust Inc. grew its position in shares of Marathon Digital by 415.6% in the 4th quarter. Blue Trust Inc. now owns 3,341 shares of the business services provider's stock worth $56,000 after buying an additional 2,693 shares during the last quarter. 44.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Frederick G. Thiel sold 55,010 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $15.00, for a total value of $825,150.00. Following the sale, the chief executive officer now owns 4,146,804 shares in the company, valued at approximately $62,202,060. This trade represents a 1.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Douglas K. Mellinger sold 3,000 shares of the business's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $16.00, for a total transaction of $48,000.00. Following the sale, the director now owns 176,859 shares of the company's stock, valued at approximately $2,829,744. This represents a 1.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 171,348 shares of company stock worth $2,633,802 in the last three months. Insiders own 0.80% of the company's stock.

Marathon Digital Stock Down 1.2%

Shares of NASDAQ MARA traded down $0.18 during trading on Wednesday, reaching $14.49. The company had a trading volume of 37,149,924 shares, compared to its average volume of 45,144,348. Marathon Digital Holdings, Inc. has a 12-month low of $9.81 and a 12-month high of $30.28. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.62. The business's 50-day moving average is $14.56 and its 200 day moving average is $16.19. The stock has a market cap of $5.10 billion, a PE ratio of -9.99 and a beta of 6.61.

Marathon Digital (NASDAQ:MARA - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The business services provider reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.06). The firm had revenue of $213.88 million for the quarter, compared to analysts' expectations of $234.19 million. Marathon Digital had a negative net margin of 46.68% and a positive return on equity of 6.33%. The business's revenue for the quarter was up 29.5% compared to the same quarter last year. During the same period last year, the company posted $1.26 earnings per share. As a group, equities analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MARA has been the topic of several research analyst reports. Rosenblatt Securities boosted their target price on Marathon Digital from $17.00 to $20.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. HC Wainwright reiterated a "buy" rating and issued a $28.00 price target on shares of Marathon Digital in a report on Thursday, April 24th. Needham & Company LLC restated a "hold" rating on shares of Marathon Digital in a report on Thursday, February 27th. Barclays raised their target price on shares of Marathon Digital from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Marathon Digital from $18.00 to $19.00 and gave the company a "neutral" rating in a research note on Friday, June 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Marathon Digital presently has a consensus rating of "Hold" and a consensus target price of $20.94.

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.