Marathon Digital Holdings, Inc. $MARA Shares Purchased by Rhumbline Advisers

Key Points

• Rhumbline Advisers increased its stake in Marathon Digital Holdings by 10% in Q1, now owning 917,299 shares valued at approximately $10.55 million.
• Marathon Digital reported a quarterly earnings per share (EPS) of $1.84, significantly beating estimates, with revenues increasing by 64% year-over-year.
• Analysts have generally issued positive ratings on Marathon Digital, with price targets ranging from $20 to $39, leading to a consensus rating of "Moderate Buy."

Rhumbline Advisers increased its holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 10.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 917,299 shares of the business services provider's stock after purchasing an additional 83,242 shares during the period. Rhumbline Advisers owned 0.26% of Marathon Digital worth $10,549,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Park Square Financial Group LLC acquired a new position in Marathon Digital in the fourth quarter valued at $27,000. CX Institutional acquired a new position in shares of Marathon Digital during the first quarter worth $68,000. Archer Investment Corp boosted its position 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 buying an additional 6,800 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in Marathon Digital by 65.3% in the first quarter. NewEdge Advisors LLC now owns 7,672 shares of the business services provider's stock valued at $88,000 after purchasing an additional 3,032 shares during the last quarter. Finally, Mirador Capital Partners LP purchased a new position in shares of Marathon Digital during the 1st quarter valued at approximately $117,000. Institutional investors and hedge funds own 44.53% of the company's stock.

Marathon Digital Stock Performance

Shares of NASDAQ MARA opened at $15.86 on Thursday. The business's 50-day simple moving average is $16.72 and its 200-day simple moving average is $14.97. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 0.54. Marathon Digital Holdings, Inc. has a 52 week low of $9.81 and a 52 week high of $30.28. The firm has a market cap of $5.88 billion, a price-to-earnings ratio of 14.29 and a beta of 6.35.

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 (EPS) for the quarter, beating the consensus estimate of ($0.29) by $2.13. The company had revenue of $238.50 million for the quarter, compared to the consensus estimate of $212.25 million. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%.The firm'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. As a group, equities research analysts expect that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MARA shares. Rosenblatt Securities reissued a "buy" rating and issued a $20.00 price objective on shares of Marathon Digital in a report on Wednesday, July 30th. Cantor Fitzgerald raised their price target on shares of Marathon Digital from $34.00 to $39.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. BTIG Research reaffirmed a "buy" rating and issued a $27.00 price objective on shares of Marathon Digital in a report on Friday, September 5th. Piper Sandler lifted their price target on Marathon Digital from $23.00 to $26.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Finally, JPMorgan Chase & Co. upgraded shares of Marathon Digital from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $19.00 to $22.00 in a report on Monday, July 28th. Seven equities research 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 has a consensus rating of "Moderate Buy" and a consensus price target of $24.50.

Insider Transactions at Marathon Digital

In other news, CFO Salman Hassan Khan sold 34,732 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $15.73, for a total value of $546,334.36. Following the completion of the transaction, the chief financial officer owned 353,160 shares in the company, valued at approximately $5,555,206.80. This represents a 8.95% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Vicki Mealer-Burke sold 14,887 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $15.22, for a total transaction of $226,580.14. Following the completion of the transaction, the director directly owned 58,103 shares of the company's stock, valued at $884,327.66. This trade represents a 20.40% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 168,866 shares of company stock valued at $2,846,190. 0.80% of the stock is owned by corporate insiders.

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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