Marathon Digital Holdings, Inc. $MARA Shares Bought by Emerald Mutual Fund Advisers Trust

Key Points

• Emerald Mutual Fund Advisers Trust increased its holdings in Marathon Digital by 91.3% in Q2, now owning approximately 347,214 shares valued at $5.44 million.
• Institutional investors collectively hold 44.53% of Marathon Digital's shares, with significant increases from various funds, such as Fifth Third Bancorp and IFP Advisors Inc..
• Marathon Digital reported an earnings per share (EPS) of $1.84 for the last quarter, significantly exceeding analyst expectations who predicted an EPS of ($0.29), with revenue up 64% year-over-year.

Emerald Mutual Fund Advisers Trust boosted its holdings in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 91.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 347,214 shares of the business services provider's stock after acquiring an additional 165,688 shares during the quarter. Emerald Mutual Fund Advisers Trust owned about 0.09% of Marathon Digital worth $5,444,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its position in shares of Marathon Digital by 59.9% during the second quarter. Fifth Third Bancorp now owns 1,824 shares of the business services provider's stock worth $29,000 after buying an additional 683 shares during the period. IFP Advisors Inc boosted its position in shares of Marathon Digital by 375.4% during the second quarter. IFP Advisors Inc now owns 2,534 shares of the business services provider's stock worth $40,000 after buying an additional 2,001 shares during the period. CX Institutional boosted its position in shares of Marathon Digital by 12.6% during the second quarter. CX Institutional now owns 6,698 shares of the business services provider's stock worth $105,000 after buying an additional 749 shares during the period. Archer Investment Corp boosted its position in shares of Marathon Digital by 6,800.0% during the first quarter. Archer Investment Corp now owns 6,900 shares of the business services provider's stock worth $79,000 after buying an additional 6,800 shares during the period. Finally, NewEdge Advisors LLC boosted its position in shares of Marathon Digital by 65.3% during the first quarter. NewEdge Advisors LLC now owns 7,672 shares of the business services provider's stock worth $88,000 after buying an additional 3,032 shares during the period. Institutional investors and hedge funds own 44.53% of the company's stock.

Insider Activity at Marathon Digital

In related news, CFO Salman Hassan Khan sold 34,732 shares of Marathon Digital stock in a transaction on Monday, September 15th. The stock was sold at an average price of $16.24, for a total value of $564,047.68. Following the completion of the transaction, the chief financial officer directly owned 318,428 shares in the company, valued at approximately $5,171,270.72. This trade represents a 9.83% 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, Director Vicki Mealer-Burke sold 14,887 shares of the firm's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $15.22, for a total value of $226,580.14. Following the completion of the sale, the director owned 58,103 shares in the company, valued at approximately $884,327.66. This represents a 20.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 204,598 shares of company stock worth $3,616,374. Company insiders own 0.80% of the company's stock.

Marathon Digital Stock Performance

NASDAQ:MARA opened at $18.88 on Thursday. The firm has a market cap of $6.99 billion, a PE ratio of 17.01 and a beta of 6.33. The stock has a fifty day moving average price of $17.92 and a 200 day moving average price of $16.46. Marathon Digital Holdings, Inc. has a 12-month low of $9.81 and a 12-month high of $30.28. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.47.

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

Analyst Ratings Changes

Several research analysts have recently commented on the company. Guggenheim assumed coverage on Marathon Digital in a research report on Tuesday, October 21st. They set a "neutral" rating for the company. JPMorgan Chase & Co. lowered their price target on Marathon Digital from $22.00 to $20.00 and set an "overweight" rating for the company in a research report on Friday, September 26th. Rosenblatt Securities raised their price target on Marathon Digital from $20.00 to $25.00 and gave the stock a "buy" rating in a research report on Thursday, October 16th. Weiss Ratings restated a "hold (c)" rating on shares of Marathon Digital in a research report on Wednesday, October 8th. Finally, Cantor Fitzgerald raised their price target on Marathon Digital from $28.00 to $30.00 and gave the stock an "overweight" rating in a research report on Monday, October 6th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $24.20.

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.

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