Marathon Digital Holdings, Inc. $MARA Shares Acquired by Cresset Asset Management LLC

Cresset Asset Management LLC grew its holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 37.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,847 shares of the business services provider's stock after buying an additional 17,512 shares during the quarter. Cresset Asset Management LLC's holdings in Marathon Digital were worth $734,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Park Square Financial Group LLC acquired a new stake in shares of Marathon Digital in the 4th quarter valued at approximately $27,000. Sterling Capital Management LLC lifted its holdings in shares of 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 valued at $31,000 after buying an additional 1,426 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Marathon Digital by 28.9% in the 4th quarter. NewEdge Advisors LLC now owns 4,640 shares of the business services provider's stock valued at $78,000 after buying an additional 1,040 shares during the period. CX Institutional acquired a new stake in shares of Marathon Digital in the 1st quarter valued at approximately $68,000. Finally, Archer Investment Corp increased its stake in Marathon Digital by 6,800.0% in the 1st quarter. Archer Investment Corp now owns 6,900 shares of the business services provider's stock valued at $79,000 after purchasing an additional 6,800 shares in the last quarter. 44.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on MARA shares. Cantor Fitzgerald raised their price objective on Marathon Digital from $34.00 to $39.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Piper Sandler increased their target price on Marathon Digital from $23.00 to $26.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Barclays increased their target price on Marathon Digital from $14.00 to $16.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Macquarie increased their target price on Marathon Digital from $19.00 to $26.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $20.00 target price on shares of Marathon Digital in a report on Wednesday, July 30th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Marathon Digital presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.22.

Marathon Digital Trading Up 5.0%

Shares of Marathon Digital stock opened at $16.29 on Friday. Marathon Digital Holdings, Inc. has a fifty-two week low of $9.81 and a fifty-two week high of $30.28. The firm has a market cap of $6.03 billion, a PE ratio of 14.68 and a beta of 6.24. The business's fifty day moving average is $16.57 and its two-hundred day moving average is $15.02. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.47.

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

Insiders Place Their Bets

In other news, CFO Salman Hassan Khan sold 34,732 shares of the company's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $15.73, for a total transaction of $546,334.36. Following the completion of the sale, the chief financial officer directly owned 353,160 shares in the company, valued at $5,555,206.80. This represents a 8.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Frederick G. Thiel sold 27,505 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $15.28, for a total value of $420,276.40. Following the sale, the chief executive officer owned 3,810,799 shares of the company's stock, valued at approximately $58,229,008.72. The trade was a 0.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 189,712 shares of company stock valued at $3,186,128. 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.

Want to see what other hedge funds are holding MARA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.