Maridea Wealth Management LLC Has $268,000 Holdings in Marathon Digital Holdings, Inc. $MARA

Key Points

• Maridea Wealth Management LLC reduced its stake in Marathon Digital Holdings by 84.1%, selling 90,172 shares and holding 17,072 shares valued at $268,000 as per its latest SEC filing.
• Several other hedge funds have increased their holdings in Marathon Digital, with Rhumbline Advisers raising theirs by 10% and Mirae Asset Global Investments Co. Ltd. increasing by a staggering 1,521.1% in the first quarter.
• Marathon Digital reported a net margin of 85.02% for its latest quarter, with $1.84 earnings per share, significantly beating the consensus estimate of a loss of $0.29.

Maridea Wealth Management LLC lessened its holdings in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 84.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,072 shares of the business services provider's stock after selling 90,172 shares during the period. Maridea Wealth Management LLC's holdings in Marathon Digital were worth $268,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Rhumbline Advisers lifted its holdings in Marathon Digital by 10.0% in the first quarter. Rhumbline Advisers now owns 917,299 shares of the business services provider's stock valued at $10,549,000 after buying an additional 83,242 shares during the period. Intech Investment Management LLC lifted its holdings in Marathon Digital by 14.5% in the first quarter. Intech Investment Management LLC now owns 160,717 shares of the business services provider's stock valued at $1,848,000 after buying an additional 20,413 shares during the period. Exchange Traded Concepts LLC lifted its holdings in Marathon Digital by 7.7% in the second quarter. Exchange Traded Concepts LLC now owns 1,173,211 shares of the business services provider's stock valued at $18,396,000 after buying an additional 83,649 shares during the period. Janney Montgomery Scott LLC lifted its holdings in 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 valued at $729,000 after buying an additional 47,826 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted 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 period. Institutional investors and hedge funds own 44.53% of the company's stock.

Marathon Digital Trading Down 8.9%

MARA opened at $16.07 on Friday. Marathon Digital Holdings, Inc. has a 1-year low of $9.81 and a 1-year 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. The company has a market cap of $5.95 billion, a P/E ratio of 14.48 and a beta of 6.35. The company has a fifty day moving average price of $16.44 and a two-hundred day moving average price of $15.22.

Marathon Digital (NASDAQ:MARA - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The business services provider reported $1.84 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $238.50 million during the quarter, compared to the consensus estimate of $212.25 million. During the same period in the previous year, the firm posted ($0.72) earnings per share. The business's revenue was up 64.0% compared to the same quarter last year. Analysts predict that Marathon Digital Holdings, Inc. will post -1.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MARA has been the topic of several recent analyst reports. Compass Point initiated coverage on shares of Marathon Digital in a report on Monday, September 15th. They issued a "neutral" rating and a $18.00 target price on the stock. JPMorgan Chase & Co. upgraded shares of Marathon Digital from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $19.00 to $22.00 in a report on Monday, July 28th. Rosenblatt Securities restated a "buy" rating and issued a $20.00 target price on shares of Marathon Digital in a report on Wednesday, July 30th. Cantor Fitzgerald boosted their target price on shares of Marathon Digital from $34.00 to $39.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Finally, BTIG Research reaffirmed a "buy" rating and issued a $27.00 price target on shares of Marathon Digital in a research note on Friday, September 5th. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently 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 business's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $16.24, for a total transaction of $564,047.68. Following the completion of the sale, the chief financial officer directly owned 318,428 shares of the company's stock, valued at $5,171,270.72. The trade was a 9.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Vicki Mealer-Burke sold 14,887 shares of the business's 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 sale, the director directly owned 58,103 shares of the company's stock, valued at approximately $884,327.66. The trade was a 20.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 204,598 shares of company stock valued at $3,483,548 over the last three months. Corporate insiders own 0.80% of the company's stock.

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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