Northern Trust Corp Has $40.59 Million Position in Marathon Digital Holdings, Inc. $MARA

Key Points

• Northern Trust Corp increased its stake in Marathon Digital Holdings, Inc. by 7.2%, acquiring over 236,000 shares, now owning approximately 1.00% of the company valued at $40.6 million.
• Marathon Digital recently reported earnings of $1.84 EPS for the last quarter, significantly exceeding analysts' expectations of a loss, with revenue of $238.5 million, up 64% year-over-year.
• Wall Street analysts have a consensus "Moderate Buy" rating on Marathon Digital's stock, with price targets ranging from $20 to $39, indicating positive growth expectations.

Northern Trust Corp increased its stake in shares of Marathon Digital Holdings, Inc. (NASDAQ:MARA - Free Report) by 7.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,529,782 shares of the business services provider's stock after buying an additional 236,251 shares during the quarter. Northern Trust Corp owned 1.00% of Marathon Digital worth $40,592,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Janney Montgomery Scott LLC raised its position in Marathon Digital by 307.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 63,371 shares of the business services provider's stock valued at $729,000 after purchasing an additional 47,826 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Marathon Digital by 1,521.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,823 shares of the business services provider's stock valued at $147,000 after purchasing an additional 12,032 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Marathon Digital by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 207,839 shares of the business services provider's stock valued at $3,485,000 after purchasing an additional 3,998 shares during the last quarter. Stifel Financial Corp raised its position in Marathon Digital by 59.3% in the 4th quarter. Stifel Financial Corp now owns 41,497 shares of the business services provider's stock valued at $696,000 after purchasing an additional 15,447 shares during the last quarter. Finally, Yousif Capital Management LLC raised its position in Marathon Digital by 3.5% in the 1st quarter. Yousif Capital Management LLC now owns 125,578 shares of the business services provider's stock valued at $1,444,000 after purchasing an additional 4,297 shares during the last quarter. Institutional investors own 44.53% of the company's stock.

Marathon Digital Trading Up 0.1%

NASDAQ:MARA traded up $0.02 on Friday, reaching $15.98. The company's stock had a trading volume of 66,767,967 shares, compared to its average volume of 41,823,888. Marathon Digital Holdings, Inc. has a 1-year low of $9.81 and a 1-year high of $30.28. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.54 and a current ratio of 0.54. The firm has a market cap of $5.92 billion, a PE ratio of 14.40 and a beta of 6.24. The business's 50-day moving average price is $16.69 and its two-hundred day moving average price is $14.99.

Marathon Digital (NASDAQ:MARA - Get Free Report) last posted its earnings results on Tuesday, July 29th. The business services provider reported $1.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.29) by $2.13. Marathon Digital had a negative return on equity of 2.11% and a net margin of 85.02%.The firm had revenue of $238.50 million during the quarter, compared to analysts' expectations of $212.25 million. During the same period in the previous year, the firm earned ($0.72) earnings per share. The company's revenue was up 64.0% on a year-over-year basis. Equities research analysts anticipate that Marathon Digital Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on MARA. JPMorgan Chase & Co. upgraded Marathon Digital from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $19.00 to $22.00 in a research report on Monday, July 28th. Macquarie boosted their target price on Marathon Digital from $19.00 to $26.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Piper Sandler boosted their target price on Marathon Digital from $23.00 to $26.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Rosenblatt Securities restated a "buy" rating and set a $20.00 target price on shares of Marathon Digital in a research report on Wednesday, July 30th. Finally, Cantor Fitzgerald boosted their target price on Marathon Digital from $34.00 to $39.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $24.22.

Insider Transactions at Marathon Digital

In other Marathon Digital news, CFO Salman Hassan Khan sold 34,733 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $15.85, for a total value of $550,518.05. Following the completion of the transaction, the chief financial officer directly owned 1,413,298 shares of the company's stock, valued at approximately $22,400,773.30. The trade was a 2.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Frederick G. Thiel sold 27,505 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $15.28, for a total value of $420,276.40. Following the completion of the transaction, the chief executive officer directly owned 3,810,799 shares of the company's stock, valued at approximately $58,229,008.72. The trade was a 0.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 189,712 shares of company stock valued at $3,186,128. Insiders own 0.80% of the company's stock.

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.