GAMMA Investing LLC Grows Stock Holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

GAMMA Investing LLC grew its position in Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 708.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 103,776 shares of the business services provider's stock after purchasing an additional 90,932 shares during the quarter. GAMMA Investing LLC's holdings in Marathon Digital were worth $1,193,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

MARA has been the topic of a number of research analyst reports. HC Wainwright reissued a "buy" rating and set a $28.00 price objective on shares of Marathon Digital in a report on Thursday, April 24th. Needham & Company LLC reiterated a "hold" rating on shares of Marathon Digital in a research note on Thursday, February 27th. Rosenblatt Securities upped their price objective on shares of Marathon Digital from $17.00 to $20.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Compass Point reaffirmed a "sell" rating and set a $9.50 price objective (down previously from $25.00) on shares of Marathon Digital in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. boosted their target price on Marathon Digital from $18.00 to $19.00 and gave the company a "neutral" rating in a report on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Marathon Digital presently has an average rating of "Hold" and a consensus target price of $20.94.

Insider Activity at Marathon Digital

In related news, Director Douglas K. Mellinger sold 3,000 shares of the firm's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $16.00, for a total value of $48,000.00. Following the completion of the sale, the director now owns 176,859 shares in the company, valued at $2,829,744. This trade represents a 1.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Salman Hassan Khan sold 33,400 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $15.00, for a total value of $501,000.00. Following the transaction, the chief financial officer now directly owns 1,680,971 shares of the company's stock, valued at approximately $25,214,565. This trade represents a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 198,853 shares of company stock worth $3,054,629 in the last three months. Insiders own 0.80% of the company's stock.

Marathon Digital Stock Performance

Shares of NASDAQ MARA traded down $0.18 during midday trading on Thursday, reaching $14.49. 37,343,354 shares of the company were exchanged, compared to its average volume of 45,181,756. The stock has a market cap of $5.10 billion, a P/E ratio of -9.99 and a beta of 6.61. Marathon Digital Holdings, Inc. has a 1 year low of $9.81 and a 1 year high of $30.28. The stock has a fifty day simple moving average of $14.60 and a 200 day simple moving average of $16.18. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.62.

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

Marathon Digital 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.