Marathon Digital Holdings, Inc. $MARA Shares Sold by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC has significantly reduced its stake in Marathon Digital Holdings, cutting its holdings by 74.8% to 184,172 shares, worth approximately $2.1 million.
• Several hedge funds have adjusted their positions in shares of Marathon Digital, with some buying new stakes or increasing their holdings, indicating heightened interest from institutional investors.
• Wall Street analysts have a generally positive outlook on the company, with a consensus rating of "Moderate Buy" and an average price target of $24.50 per share.

Voya Investment Management LLC lowered its stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 74.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 184,172 shares of the business services provider's stock after selling 545,722 shares during the period. Voya Investment Management LLC owned 0.05% of Marathon Digital worth $2,118,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Rhumbline Advisers grew its stake in Marathon Digital by 10.0% during the 1st quarter. Rhumbline Advisers now owns 917,299 shares of the business services provider's stock worth $10,549,000 after buying an additional 83,242 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of Marathon Digital by 14.5% during the first quarter. Intech Investment Management LLC now owns 160,717 shares of the business services provider's stock worth $1,848,000 after purchasing an additional 20,413 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Marathon Digital by 307.7% in the first quarter. Janney Montgomery Scott LLC now owns 63,371 shares of the business services provider's stock worth $729,000 after acquiring an additional 47,826 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Marathon Digital by 1,521.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,823 shares of the business services provider's stock valued at $147,000 after buying an additional 12,032 shares during the last quarter. Finally, Caxton Associates LLP acquired a new position in shares of Marathon Digital during the first quarter worth approximately $1,530,000. Hedge funds and other institutional investors own 44.53% of the company's stock.

Insider Transactions at Marathon Digital

In related news, Director Vicki Mealer-Burke sold 14,887 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $15.22, for a total transaction of $226,580.14. Following the sale, the director directly owned 58,103 shares of the company's stock, valued at approximately $884,327.66. This represents a 20.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Salman Hassan Khan sold 34,732 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $16.24, for a total transaction of $564,047.68. Following the completion of the transaction, the chief financial officer owned 318,428 shares in the company, valued at $5,171,270.72. This trade represents a 9.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 204,598 shares of company stock valued at $3,483,548 in the last three months. 0.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Compass Point initiated coverage on Marathon Digital in a research report on Monday, September 15th. They set a "neutral" rating and a $18.00 price objective for the company. Cantor Fitzgerald raised their price target on Marathon Digital from $34.00 to $39.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Piper Sandler raised their price target on shares of Marathon Digital from $23.00 to $26.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. JPMorgan Chase & Co. raised shares of Marathon Digital from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $19.00 to $22.00 in a report on Monday, July 28th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $20.00 target price on shares of Marathon Digital in a report on Wednesday, July 30th. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Marathon Digital has a consensus rating of "Moderate Buy" and a consensus target price of $24.50.

Marathon Digital Trading Up 0.3%

Shares of MARA traded up $0.06 during trading hours on Monday, hitting $18.35. 84,740,442 shares of the stock were exchanged, compared to its average volume of 61,973,300. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a market capitalization of $6.80 billion, a P/E ratio of 16.53 and a beta of 6.36. The business has a 50-day moving average of $16.58 and a 200-day moving average of $15.16. Marathon Digital Holdings, Inc. has a fifty-two week low of $9.81 and a fifty-two week high of $30.28.

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

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.