Maridea Wealth Management LLC Has $1.23 Million Stock Holdings in Marathon Digital Holdings, Inc. (NASDAQ:MARA)

Key Points

• Maridea Wealth Management LLC increased its stake in Marathon Digital Holdings by 94.3% during the first quarter, owning 107,244 shares valued at $1.23 million.
• Several institutional investors made significant adjustments to their holdings in Marathon Digital, with 44.53% of the stock currently owned by institutional investors.
• Equities analysts have varied expectations for Marathon Digital, with recent price target increases from firms like Piper Sandler and JPMorgan Chase, positioning the stock with a moderate buy rating and an average target of $22.22.

Maridea Wealth Management LLC boosted its stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 94.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 107,244 shares of the business services provider's stock after acquiring an additional 52,057 shares during the period. Maridea Wealth Management LLC's holdings in Marathon Digital were worth $1,233,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MARA. Park Square Financial Group LLC bought a new position in Marathon Digital during the 4th quarter worth $27,000. Sterling Capital Management LLC increased its stake in Marathon Digital by 358.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,824 shares of the business services provider's stock worth $31,000 after acquiring an additional 1,426 shares during the period. Brown Brothers Harriman & Co. bought a new position in Marathon Digital during the 4th quarter worth $50,000. CIBC Private Wealth Group LLC increased its stake in shares of Marathon Digital by 211.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 3,500 shares of the business services provider's stock valued at $64,000 after purchasing an additional 2,375 shares during the last quarter. Finally, CX Institutional bought a new position in shares of Marathon Digital in the 1st quarter valued at $68,000. Institutional investors own 44.53% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MARA shares. Barclays lifted their price target on Marathon Digital from $14.00 to $16.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Rosenblatt Securities reiterated a "buy" rating and issued a $20.00 price target on shares of Marathon Digital in a research note on Wednesday. JPMorgan Chase & Co. upgraded Marathon Digital from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $19.00 to $22.00 in a research note on Monday. Macquarie lifted their price target on Marathon Digital from $19.00 to $26.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, Compass Point upgraded Marathon Digital from a "sell" rating to a "neutral" rating and lifted their price target for the company from $9.50 to $18.00 in a research note on Friday, July 25th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $24.22.

Marathon Digital Price Performance

Shares of NASDAQ MARA traded up $0.01 during mid-day trading on Thursday, hitting $16.56. 28,379,027 shares of the stock traded hands, compared to its average volume of 42,716,520. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.79 and a quick ratio of 0.79. Marathon Digital Holdings, Inc. has a twelve month low of $9.81 and a twelve month high of $30.28. The company has a market cap of $5.83 billion, a PE ratio of 14.92 and a beta of 6.53. The firm has a 50 day simple moving average of $16.43 and a two-hundred day simple moving average of $15.36.

Marathon Digital (NASDAQ:MARA - Get Free Report) last announced its earnings results on Thursday, May 8th. The business services provider reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.06). The company had revenue of $213.88 million for the quarter, compared to analyst estimates of $234.19 million. Marathon Digital had a negative return on equity of 2.29% and a net margin of 85.02%. The firm's quarterly revenue was up 29.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.26 earnings per share. As a group, equities research analysts forecast that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other Marathon Digital news, CEO Frederick G. Thiel sold 55,010 shares of Marathon Digital stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $15.00, for a total transaction of $825,150.00. Following the transaction, the chief executive officer directly owned 4,146,804 shares of the company's stock, valued at approximately $62,202,060. The trade was a 1.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Douglas K. Mellinger sold 3,000 shares of Marathon Digital stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $16.00, for a total value of $48,000.00. Following the transaction, the director directly owned 176,859 shares in the company, valued at $2,829,744. The trade was a 1.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 262,090 shares of company stock valued at $4,270,591. 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.