Marathon Digital Holdings, Inc. $MARA Stake Lifted 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 grew its holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 10.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 917,299 shares of the business services provider's stock after purchasing an additional 83,242 shares during the quarter. Rhumbline Advisers owned approximately 0.26% of Marathon Digital worth $10,549,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of MARA. Park Square Financial Group LLC acquired a new stake in Marathon Digital during the fourth quarter worth approximately $27,000. CX Institutional acquired a new stake in Marathon Digital during the first quarter worth approximately $68,000. Archer Investment Corp boosted its position in 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 acquiring an additional 6,800 shares during the last quarter. NewEdge Advisors LLC raised its stake in 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 purchasing an additional 3,032 shares during the period. Finally, Mirador Capital Partners LP purchased a new position in Marathon Digital during the first quarter worth approximately $117,000. 44.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on MARA shares. Compass Point started coverage on shares of Marathon Digital in a research note on Monday. They set a "neutral" rating and a $18.00 price target on the stock. Macquarie increased their price target on shares of Marathon Digital from $19.00 to $26.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. BTIG Research reissued a "buy" rating and issued a $27.00 target price on shares of Marathon Digital in a research note on Friday, September 5th. JPMorgan Chase & Co. raised shares of Marathon Digital from a "neutral" rating to an "overweight" rating and raised their target price for the company from $19.00 to $22.00 in a research note on Monday, July 28th. Finally, Cantor Fitzgerald raised their target price 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. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $24.50.

Insiders Place Their Bets

In other news, CFO Salman Hassan Khan sold 34,732 shares of Marathon Digital stock in a transaction dated 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 directly owned 353,160 shares of the company's stock, valued at approximately $5,555,206.80. The trade was a 8.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Frederick G. Thiel sold 27,505 shares of Marathon Digital stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $15.28, for a total transaction of $420,276.40. Following the completion of the sale, the chief executive officer owned 3,810,799 shares in the company, 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. Insiders sold a total of 142,361 shares of company stock valued at $2,441,463 in the last ninety days. Corporate insiders own 0.80% of the company's stock.

Marathon Digital Stock Down 3.5%

MARA stock traded down $0.57 during mid-day trading on Monday, hitting $15.75. 38,860,571 shares of the company were exchanged, compared to its average volume of 43,701,801. The company has a market capitalization of $5.83 billion, a PE ratio of 14.25 and a beta of 6.36. 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 Holdings, Inc. has a twelve month low of $9.81 and a twelve month high of $30.28. The firm has a fifty day simple moving average of $16.65 and a 200 day simple moving average of $15.04.

Marathon Digital (NASDAQ:MARA - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The business services provider reported $1.84 earnings per share for the quarter, topping the consensus estimate of ($0.29) by $2.13. The company had revenue of $238.50 million during the quarter, compared to analyst estimates of $212.25 million. Marathon Digital had a net margin of 85.02% and a negative return on equity of 2.11%. The firm's revenue for the quarter was up 64.0% compared to the same quarter last year. During the same period last year, the business earned ($0.72) EPS. 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.