Cresset Asset Management LLC Boosts Stock Position in Marathon Digital Holdings, Inc. $MARA

Key Points

• Cresset Asset Management LLC increased its holdings in Marathon Digital Holdings by 37.8% in the 1st quarter, acquiring a total of 63,847 shares valued at $734,000.
• Analysts have updated their target prices for Marathon Digital, with Cantor Fitzgerald raising its target from $34.00 to $39.00, indicating a strong outlook for the stock.
• Marathon Digital reported earnings of $1.84 per share, significantly exceeding estimates and representing a 64% year-over-year revenue increase for the quarter.

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

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ranch Capital Advisors Inc. raised its holdings in Marathon Digital by 5.8% during the 1st quarter. Ranch Capital Advisors Inc. now owns 14,632 shares of the business services provider's stock valued at $168,000 after acquiring an additional 805 shares during the period. Mackenzie Financial Corp raised its holdings in Marathon Digital by 5.1% during the 4th quarter. Mackenzie Financial Corp now owns 18,125 shares of the business services provider's stock valued at $304,000 after acquiring an additional 878 shares during the period. CoreCap Advisors LLC raised its holdings in Marathon Digital by 7.3% during the 4th quarter. CoreCap Advisors LLC now owns 14,541 shares of the business services provider's stock valued at $244,000 after acquiring an additional 992 shares during the period. NewEdge Advisors LLC raised its holdings in Marathon Digital by 28.9% during the 4th quarter. NewEdge Advisors LLC now owns 4,640 shares of the business services provider's stock valued at $78,000 after acquiring an additional 1,040 shares during the period. Finally, Baird Financial Group Inc. raised its holdings in Marathon Digital by 13.2% during the 4th quarter. Baird Financial Group Inc. now owns 10,620 shares of the business services provider's stock valued at $178,000 after acquiring an additional 1,238 shares during the period. Institutional investors own 44.53% of the company's stock.

Marathon Digital Trading Up 2.9%

NASDAQ MARA traded up $0.44 during trading on Tuesday, hitting $15.84. 50,703,529 shares of the company's stock traded hands, compared to its average volume of 41,924,396. The stock has a fifty day moving average of $16.60 and a two-hundred day moving average of $14.99. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.54 and a quick ratio of 0.54. Marathon Digital Holdings, Inc. has a 12-month low of $9.81 and a 12-month high of $30.28. The firm has a market cap of $5.87 billion, a P/E ratio of 14.27 and a beta of 6.24.

Marathon Digital (NASDAQ:MARA - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $238.50 million during the quarter, compared to analyst estimates of $212.25 million. During the same period in the prior year, the business posted ($0.72) earnings per share. The company's revenue was up 64.0% on a year-over-year basis. As a group, sell-side analysts expect that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MARA shares. Macquarie boosted their target price on shares of Marathon Digital from $19.00 to $26.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Barclays upped their price target on shares of Marathon Digital from $14.00 to $16.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. JPMorgan Chase & Co. raised shares of Marathon Digital from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $19.00 to $22.00 in a report on Monday, July 28th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $20.00 price target on shares of Marathon Digital in a report on Wednesday, July 30th. Finally, Cantor Fitzgerald upped their price target 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. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $24.22.

Insider Transactions at Marathon Digital

In other news, CFO Salman Hassan Khan sold 34,732 shares of the stock in a transaction dated Friday, August 15th. The shares were 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 approximately $5,555,206.80. This represents a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $15.28, for a total transaction 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. This represents a 0.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 189,712 shares of company stock valued at $3,186,128. 0.80% of the stock is currently owned by company insiders.

About Marathon Digital

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.